|
Quarterly Returns |
Monthly Returns |
| Frequency |
Quarterly – 4 times a year |
Monthly – 12 times a year |
| Forms to be filed |
Depending on the information to be declared, quarterly filers may choose between Sahaj, Sugam, and Normal (Quarterly) types of returns. |
Only one type of return is available – Normal (Monthly) |
| Days during which no upload of documents is allowed |
23rd to 25th of the month following the relevant quarter |
18th to 20th of the next month |
| Time available to take credit |
As a recipient of supply, credit can be taken on documents uploaded by the supplier until the 10th of the month following the relevant quarter.
This gives a supplier more time comparatively, to file any missing invoices for the first two months of the quarter. |
As a recipient of supply, credit can be taken on documents uploaded by a supplier till the 10th of the following month. |
| Editing of documents uploaded |
All documents uploaded by a supplier can be accepted or rejected by the recipient by the 10th of the month following the relevant quarter.
Once accepted, a recipient will need to reset/unlock the document before a supplier can edit the same. Quarterly returns filers will get comparatively more time for the editing and finalising of documents. |
All documents uploaded by a supplier can be accepted or rejected by the recipient by the 10th of the following month.
Once accepted, a recipient will need to reset/unlock the document before a supplier can edit the same. Monthly return filers will get less time for the editing and finalising of documents, as the supplier gets time only till the 10th of the following month once a document has been reset/unlocked. |
| Editing of documents after the 10th of the following month |
In case a document is rejected after the 10th of the month following the concerned quarter, the same shall be available for correction to the supplier only after the recipient files his return for that quarter. |
In case a document is rejected after the 10th of the following month, the same shall be available for correction to the supplier only after the recipient files his return for that month. |
| Availability of credit in respect of edited documents |
Credit will be available to the recipient in the quarter in which the supplier files the edited document. |
Credit will be available to the recipient in the month in which the supplier files the edited document. |
| Unavailability of credit |
Where the supplier fails to file his return for a particular quarter, the recipient will not be able to claim credit on the invoices declared in the following quarter. |
Where the supplier fails to file his return for two consecutive months, the recipient will not be able to claim credit on the invoices declared in the next month. |
