NO NEED TO PAY TAX EVERY MONTH | 2020

 NO NEED TO PAY TAX EVERY MONTH 

The GST Council has facilitated a small number of taxpayers. Returns can be submitted on a quarterly basis rather than on a monthly basis. To this extent, the GST Council has taken a decision. 

Relevant sources claim that this is a very big hurdle for small traders. The GST Council has announced that from January 1 next year (2021), small taxpayers will no longer be required to file monthly returns.

However, Finance Secretary Ajay Bhushan Pandey said that tax payments should be made on a monthly basis through chalana. The annual turnover is Rs. Taxpayers with less than Rs 5 crore will not have to file GSTR3B and GSTR1 monthly returns from January 1, they will have to file only quarterly returns.

Overall in this order ... the burden on taxpayers has been reduced from 24 returns to 8 returns. In addition, the use of auto-generated challans for the first two months allows for the payment of 35% of the net cash tax arrears in the last quarter.