Rule
61A. Manner of opting for furnishing quarterly return .-
(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.
