Quarterly Return Filing and Monthly Payment of Taxes (QRMP) Scheme under GST

GST 

CBIC introduced Quarterly Return Filing and Monthly Payment of Taxes (QRMP) scheme under GST for small taxpayers with effective from 1st January 2021. Any registered Taxpayer who is having aggregate turnover up to 5 crore rupees to opt this scheme. It is an optional scheme.

Eligible criteria for this QRMP Scheme

An Registered Person is required to file Form GSTR 3B with Aggregate turnover up to 5 crore rupees in the preceding financial year.

An person obtaining a new registration or opting out of Compostion scheme can also opt for this scheme.

The option to avail this Scheme can be availed GSTIN wise. Therefore, few GSTINs for PAN can opt for the scheme and remaining GSTIN can remain out of the scheme.

For Example

FY 2019-20 Eligible for QRMP(FY 2020-21)
AATO 5.05 crore NO
AATO 4.89 crore YES

In case the aggregate turnover exceeds 5 crore rupees during any quarter in the current financial year, the registered person shall not be eligible for the scheme from the next quarter.

For example

Q1 Q2 Q3
QRMP opt Turnover 5.01 crore Not eligible

Multiple GSTINs on the same PAN

The multiple GSTINs on the same PAN can opt for the QRMP Scheme. The option to avail of the QRMP Scheme is GSTIN wise and therefore, different GSTINs on same PAN have the option to avail the QRMP Scheme for one or more GSTINs.

Filing of GSTR 1

The registered taxpayer opting for the Scheme would be required to furnish the details of outward supply in GSTR-1 quarterly. The Outward supplies should not exceed the value of fifty lakh rupees in any month. If exceeds the value of fifty lakh rupees, the taxpayer shall not eligible for QRMP scheme.

Invoice Furnishing Facility (IFF) is facility for registered taxpayer who will have to furnish the details for each of first and second month of outward supplies to a registered person between the 1st day of the month till the 13th day of the succeeding month. This facility for furnishing IFF for previous month would not be available after 13th of the month. This facility is not mandatory and is only an optional facility made available to the registered taxpayers under the QRMP scheme.

Tax Payments under the QRMP scheme

The registered taxpayer has to pay the tax using form GST PMT-06 by the 25th of the following month, for the first and second months of the quarter. The taxpayers can pay their monthly tax liability either in the Fixed Sum Method or Self Assessment Method.

Fixed Sum Method:  In this method, the registered taxpayer has to pay 35% of the tax paid in cash in the preceding quarter.

Tax Paid in cash in Quarter (October – December) Tax required to pay in each months (January – March)
CGST 100 CGST 35
SGST 100 SGST 35
IGST 200 IGST 70
CESS 60 CESS 21

 

Self Assessment Method: In this method, the registered taxpayer has to the pay the tax considering the tax liability and input credit available. The registered taxpayer has to manually arrive at the tax liability for the month and has to pay the same in form GST PMT-06.

The late fee should be paid if the registered taxpayer is not filed before the due date, 18% of interest has to pay with late fee.

Name of the Act Late fee for every day Late fee for every day (in case of NIL tax liability)
CGST 25 10
SGST 25 10
IGST 50 20

 

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