GST Quarterly Return Monthly Payment (QRMP) scheme: Quarterly return filing option for taxpayers having Turnover upto 5 Crore

CBIC has launched GST Quarterly Return filing & Monthly Payment (QRMP) scheme. In order to give relief to small taxpayers and ease of doing business, the GST Council in its 42nd meeting held on 5th October 2020, had recommended that
registered taxable person having aggregate turnover up to 5 crore to be allowed to
furnish GST return (GSTR-1 and GSTR-3B) on quarterly basis along with monthly payment of tax, with effect from 1st Jan 2021.

Taxpayers have started getting intimation on their registered mobile number for by default conversion into QRMP Scheme. The intimation is having content as follows: “As per QRMP scheme you are defaulted to file your GSTR-1 and 3B on Quarterly basis from Jan-Mar 21. To change Please visit services.gst.gov.in”

GST Quarterly Return filing & Monthly Payment (QRMP) scheme: Notification

The CBIC has issued the following notifications to implement the Scheme of quarterly return filing along with monthly payment of GST, which will be called Quarterly Return filing & Monthly Payment of GST Scheme “QRMP Scheme”:

SI.
No.
Read NotificationRemarks
1Notification No. 81/2020 –
Central Tax, dated
10.11.2020.
Notifies amendment carried out in sub-section (1), (2)
and (7) of section 39 of the CGST Act vide Finance
(No.2) Act, 2019
2Notification No. 82/2020 –
Central Tax, dated
10.11.2020.
Makes the Thirteenth amendment (2020) to the CGST
Rules 2017
3Notification No. 84/2020 –
Central Tax, dated
10.11.2020
Notifies class of persons under proviso to section
39(1) of the CGST Ac
4Notification No. 85/2020 –
Central Tax dated
10.11.2020.
Notifies special procedure for making payment of tax
liability in the first two months of a quarter

Who is Eligible for Quarterly Return filing & Monthly Payment of Taxes (QRMP) Scheme: Eligibility

Following class of registered person can file quarterly returns for GSTR-1 and GSTR-3B and pay tax on monthly basis w.e.f. 01st Jan 2021:

  1. All Registered Persons required to file Form GSTR 3B with Aggregate Annual Turnover of up to Rs 5 Crore in the previous financial year is eligible for Quarterly Return filing & Monthly Payment of Taxes (QRMP) Scheme. However If Aggregate Annual Turnover exceeds Rs 5 Crore during a Quarter, Registered Persons will become in-eligible for the Scheme from next quarter.
  2. Any person obtaining a Fresh registration or converting to normal scheme from Composition Scheme are also eligible for this Scheme.
  3. The option to avail this Quarterly Return filing Scheme can be availed GSTIN wise. Therefore, few GSTINs for that PAN can opt for the Scheme and the remaining GSTINs can remain out of the Scheme

Changes effected on the GST Portal for Quarterly Return Monthly Payment (QRMP) Scheme

For Quarter January 2021 to March 2021, all Registered Persons whose Aggregate Turnover for the FY 2019-20 is upto Rs 5 Crore and have furnished the return in Form GSTR-3B for the month of October 2020 by 30th November 2020, will be migrated by default in the GST system as follows:

GST QUATERLY RETURN FILING SCHEME
Source: GSTN Portal

When to opt for the Quarterly Return filing & Monthly Payment of Taxes (QRMP) Scheme

  1. The facility to opt for Quarterly Return Monthly Payment (QRMP) Scheme can be availed throughout the year, in any quarter. There is no restriction as to time period for opting for this scheme
  2. Option for QRMP Scheme, once exercised, will continue till Registered Person revises the option to choose monthly filing of GST return or his Aggregate Turnover exceeds Rs 5 Crore.
  3. Registered Persons migrated by default can choose to remain out of the scheme by exercising their option from 5th December 2020 till 31st January 2021.
  4. Taxpayers have already started getting intimation for by default migration into QRMP scheme. Communication on taxpayers registered mobile number is As per QRMP scheme you are defaulted to file your GSTR-1 and 3B on Quarterly basis from Jan-Mar 21. To change Please visit services.gst.gov.in”

The Registered Persons opting for the Quarterly Return filing & Monthly Payment of Taxes (QRMP) Scheme can avail the facility of Invoice Furnishing Facility (IFF), so that the outward supplies to registered person is reflected in their buyer’s Form GSTR 2A & 2B. The facility of Invoice Furnishing Facility (IFF) is optional in nature.

Monthly Payment of GST under the Quarterly Return filing & Monthly Payment of Taxes (QRMP) Scheme

  1. Registered Persons opting Quarterly Return filing & Monthly Payment (QRMP) Scheme need to pay GST Due in each of the first two months by 25th of next month in the Qtr, by selecting “Monthly payment for quarterly taxpayer” as reason for generating Challan.
  2. Registered Persons can either use the Fixed Sum Method (pre-filled challan) or Self-Assessment Method (actual tax due), for monthly payment of tax for first two months, after adjusting Input Tax Credit.
  3. No deposit of GST is required for the month, if there is NIL tax liability.
  4. Tax deposited for first Two months can be used for adjusting liability for the Quarter in Form GSTR-3B and can’t be used for any other purpose till the filing of return for the Quarter.

Tweet for Quarterly Return Monthly Payment (QRMP) scheme launched.

Also Read: E-Invoicing under GST: Detailed Guide to Notification No. 61/2020

You can also watch this video for more understanding of Quarterly Return Filing and Monthly Payment (QRMP) Scheme:

If you have any query, please ask in comment section bellow.

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