It is important to know how to change monthly to quarterly in GST . GST returns have become crucial for doing business in India. These returns serve as a record of all the taxable transactions made and help you calculate the amount of GST that you owe the government. If you don't file your GST on time, you will have to pay.
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You can easily change quarterly to monthly from your GST account. Here are the steps you need to follow:
Log in to your GST account
Go to the "Services" tab and select "Returns"
Click on "Opt-in for Monthly filing of Returns"
Select the relevant financial year and GSTIN
Choose "Yes" for the question "Do you want to change the return filing frequency from Quarterly to Monthly?"
Submit your request and this is how to change GST return quarterly to monthly.
You can switch back to quarterly filing by following the same steps given above. You will need to select "Opt-out for Monthly filing of Returns" instead of "Opt-in for Monthly filing of Returns". Just make sure to select the relevant financial year and GSTIN. The answer to the question "Do you want to change the return filing frequency from Monthly to Quarterly?" will be "Yes".
An important point about how to change gst monthly to quarterly is that the return frequency can only be changed once every financial year. I would suggest keeping records of your transactions,revenue and expenses.
This is all from my end on how to change monthly to quarterly in GST.
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If you own a business you need to pay GST on a monthly or quarterly basis. But the good news is, you can change your timing and opt for a monthly or a quarterly scheme. And changing the scheme is a pretty smooth and seamless process. I will share with you the process for how to change quarterly to monthly in GST.
To edit your preferences for GST returns filing we have the GST portal. After visiting this portal you will know how to change GST quarterly to monthly.
Not only can you change your GST returns filing from quarterly to monthly, but you can also do vice versa. So, by following the process mentioned below you can also learn how to change monthly to quarterly returns in GST.
The portal determines if you can change your scheme on the basis of two questions that you need to answer. You can only opt for anyone's answer among the two options. That is 'Yes' or 'No'.
If the taxpayer chooses 'Yes', he/she can opt for a monthly or quarterly scheme.
If the answer is 'No', he/she won't be able to opt for a monthly or quarterly scheme.
How to change from quarterly to monthly GST return?
Go to the GST portal.
https://www.gst.gov.in/
Tap on the 'File return' option, and choose the Financial year and period.
Now you can change your preference by clicking on the 'EDIT' Button.
Tap on 'Submit after making the changes.
This is the process of how to change monthly return to quarterly return in GST.
One thing we must remember is that you can opt for this preference only once.
I hope you understand how to change quarterly to monthly in GST now.
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How to change quarterly to monthly in GST?
Tulika
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2 Year
2022-04-20T17:27:17+00:00 2022-04-21T09:59:27+00:00Comment
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