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<h1>Jammu & Kashmir GST Act: Small Businesses Can Opt for Quarterly Returns if Turnover is Under Rs. 5 Crore.</h1> The Government of Jammu and Kashmir, under the Jammu and Kashmir Goods and Services Tax Act, 2017, allows registered persons with an aggregate turnover of up to five crore rupees to file quarterly returns starting January 2021. Conditions include filing the previous month's return before opting and maintaining the chosen option unless revised. Those exceeding five crore rupees during a quarter must switch to monthly returns from the next quarter. Registered persons can change their filing preference electronically from December 5, 2020, to January 31, 2021. This notification is effective from November 10, 2020.