In order to provide relief to small scale business of GST taxpayers, the Central Board of Central Excise has published the Quarterly Return Monthly Payment (QRMP) Scheme. This scheme of return filing quarterly returns refers to the quarterly filing of GSTR-3B and is effective from January 1, 2021. By availing the QRMP Scheme, the taxpayers will now have to file quarterly returns instead of monthly returns. Therefore, the persons will not have to 4 GST returns in place of 12 GST returns.
Who can avail QRMP or return filing Scheme?
QRMP scheme can be availed by
– Taxpayer who has to furnish a return in FORM GSTR-3B, and who has an aggregate turnover of up to Rs. 5 crores in the preceding financial year.
– Any taxpayer who get new GST registration can also avail this scheme.
– Some GST Identification Numbers (GSTIN) to the PAN can also choose for this scheme and the other GSTINs can be out of the scheme.
From where can I opt in or opt out from the QRMP scheme?
You can opt out from the GST portal > Services > Returns > Opt-in for Quarterly Return option to opt in or opt out of the QRMP scheme.
What is GSTR-3B deemed Monthly/Quarterly filing?
The date of availing QRMP Scheme began from 1st January, 2021 and therefore, for January, to March quarter filing period of return, the taxpayers whose aggregate annual turnover for the Financial Year is up to Rs 5 Crore and has filed a return in form GSTR-3B shall be relocated by default in the GST system as written below:
| Type of Taxpayer as per Aggregate Annual Turnover | Default Return Option |
|---|---|
| Up to Rs 1.5 Cr., who have furnished Form GSTR-1 on a quarterly basis in current FY | Quarterly |
| Up to Rs 1.5 Cr., who have furnished Form GSTR-1 on monthly basis in current FY | Monthly |
| More than Rs 1.5 Cr. and up to Rs 5 Cr. in preceding FY | Quarterly |
Also Read: Reverse Charge Mechanism Under GST
How to avail the option of QRMP Scheme?
Any GST taxpayer who wishes to furnish return in FORM GSTR-3B quarterly, must indicate the same on the GST Portal. This can be done so from the 1st of the second month of the preceding quarter until the last day of the first month of the quarter for which such option is being exercised.
For instance, if the taxpayer person wishes to file his GSTR-3B for second quarter, then he should opt for this option on the GST Portal between 1st February, 2021 and 30th April, 2021.
Note for GST registered taxpayers for availing QRMP Scheme
– They must have furnished the last return, as due on the date of exercising such option, and
– They don’t require to exercise this option every quarter, shall furnish return unless they revise the said option.
-If they don’t file their GSTR-3B for October, 2020 by 30th November, 2020, then they shall not migrate on common portal.
What are the due dates of all the quarters to opt QRMP Scheme?
| S No | Quarter of a particular year | QRMP Scheme can be opted in or opted out during |
|---|---|---|
| 1. | Q1 (April – May – June) | 1st February’ to 30th April’ |
| 2. | Q2 (July – August – September) | 1st May’ to 31st July’ |
| 3. | Q3 (October – November – December) | 1st August’ to 31st October’ |
| 4. | Q4 (January – February – March) | 1st November’ to 31st January of next year |
When does GST registered taxpayer becomes ineligible for QRMP Scheme?
– The aggregate annual turnover of the GST registered taxpayer exceeds Rs. 5 crores during a quarter
– A person opts for monthly filing of returns
– Registered taxpayer who has opted out of composition scheme
– Taxpayer failed to exercise the option of QRMP scheme within the due dates.
What is the process of making monthly payments of taxes under the QRMP Scheme?
To make the monthly payment of taxes, the taxpayer has to deposit the tax using FORM GST PMT-06 by 25th of the following month, for the first and the second month of the quarter. This payment can be done either through Fixed Sum Method (FSM) or Self Assessment Method.
Fixed Sum Method (FSM)
Fixed Sum Method, popularly known as 35% challan method is a pre filled challan in the FORM GST PMT-06. The amount of the tax to be paid is equal to 35% of the tax paid in cash.
| S No | Type of Taxpayer | Tax to be paid |
|---|---|---|
| 1 | Who furnished GSTR-3B quarterly for the last quarter | 35% of tax paid in cash in the preceding quarter |
| 2 | Who furnished GSTR-3B monthly during the last quarter | 100% of tax paid in cash in the last month of the immediately preceding quarter |
For instance, if GSTR-3B for quarter period January, 2023 to March, 2023 was filed on a quarterly basis
Tax paid in cash during January, 2023 to March, 2023 quarter
| GST | Amount |
|---|---|
| CGST | 20,000 |
| SGST | 20,000 |
| IGST | 30,000 |
| Cess | 5,000 |
Tax required to be paid in cash during January, 2023 to March, 2023 quarter
| GST | Amount |
|---|---|
| CGST | 7,000 |
| SGST | 7,500 |
| IGST | 10,500 |
| Cess | 1,750 |
Self Assessment Method
Self Assessment Method is a method where the GST registered person asseses his tax liability on its own. Moreover, the tax liability is evaluated by ascertaining the inward and outward supplies and the input tax credit available. The tax liability so ascertained is to be paid through FORM GST PMT-06. For this purpose, GSTR-2A view will be provided every month and GSTR-2B view will be provided both monthly and quarterly.
What are the due dates for filing GST Returns under QRMP Scheme?
| Quarter | Months Covered | Due Date for GSTR-1 | Due Date for GSTR-3B |
|---|---|---|---|
| April to June | April, May, June | 13th of the following month | 22nd/24th of the following month |
| July to September | July, August, September | 13th of the following month | 22nd/24th of the following month |
| October to December | October, November, December | 13th of the following month | 22nd/24th of the following month |
| January to March | January, February, March | 13th of the following month | 22nd/24th of the following month |
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