Payment and return filing frequency depend on your taxable period. Your taxable period is mentioned in the letter issued to you with your GST Registration Certificate.
- If your average taxable sales exceed MVR 1 million per month, your taxable period is each calendar month.
- If your taxable sales do not exceed MVR 1 million per month, your taxable period is three calendar months. In this case you must file your returns quarterly (based on calendar quarters, i.e. Jan-Mar, Apr-Jun, Jul-Sep, Oct-Dec). However, you have the option to request to change your taxable period to “ 1 calendar month”.
Taxable sales include sale of goods and services at standard rate and zero rate.