Key features of the new GST Quarterly Returns

Quarterly filing and monthly payments:  It is proposed to provide facility for filing of quarterly return to small taxpayers, who had a turnover upto Rs. 5 Cr. in the last financial year. The turnover shall be calculated in the manner explained in para 1 of Part A above. However, they would still need to pay their taxes on monthly basis and avail input tax credit on self-declaration basis to…