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of <h1>GST Circular: Monthly GSTR-3B, Quarterly GSTR-1 for Small Businesses, Reduced Late Fees, and Error Rectification Rules.</h1> The circular addresses the filing of GST returns, following decisions made by the GST Council in November 2017. It clarifies return filing dates for different turnover brackets, emphasizing monthly filing of FORM GSTR-3B and the option for quarterly filing of FORM GSTR-1 for businesses with turnover up to Rs. 1.5 Crore. Late fees for GSTR-3B filing are reduced for October 2017 onwards. Errors in GSTR-3B can be rectified in subsequent filings, but adjustments cannot include negative entries. Editing of GSTR-3B is allowed before offsetting liabilities. The circular also calls for trade notices to disseminate this information.
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