CGST Rule 61A of Central Goods and Services Tax Rules, 2017 – Manner of opting for furnishing quarterly return.

The Central Goods and Services Tax Act, 2017

The Central Goods and Services Tax Rules, 2017

Chapter-VIII Returns

Rule 61A: Manner of opting for furnishing quarterly return.

¹[61A. (1) Every registered person intending to furnish return on a quarterly basis under proviso to sub-section (1) of section 39, shall in accordance with the conditions and restrictions notified in this regard, indicate his preference for furnishing of return on a quarterly basis, electronically, on the common portal, from the 1st day of the second month of the preceding quarter till the last day of the first month of the quarter for which the option is being exercised:

Provided that where such option has been exercised once, the said registered person shall continue to furnish the return on a quarterly basis for future tax periods, unless the said registered person,–

(a) becomes ineligible for furnishing the return on a quarterly basis as per the conditions and restrictions notified in this regard; or

(b) opts for furnishing of return on a monthly basis, electronically, on the common portal:

Provided further that a registered person shall not be eligible to opt for furnishing quarterly return in case the last return due on the date of exercising such option has not been furnished.

(2) A registered person, whose aggregate turnover exceeds 5 crore rupees during the current financial year, shall opt for furnishing of return on a monthly basis, electronically, on the common portal, from the first month of the quarter, succeeding the quarter during which his aggregate turnover exceeds 5 crore rupees.]

References

Amendments:

1. Inserted by Central Goods and Services Tax (Thirteenth Amendment) Rules, 2020 vide Notification No. 82/2020-Central Tax dated 10th November, 2020, w.e.f. 10.11.2020.

Notifications:

n1. Option of Quarterly Return, having specified Turnover, refer Notification No.  84/2020– Central Tax dated 10.11.2020 and for payment in case of Quarterly Return, refer Notification No. 85/2020– Central Tax dated 10.11.2020.

Circulars:

c1. Quarterly Return Monthly Payment Scheme (QRMP Scheme). [Circular No. 143/13/2020-GST dated 10.11.2020]