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

Quarterly Return Filing and Monthly Payment of Taxes

(QRMP) in GST

To assist small taxpayers with a turnover of less than Rs. 5 crores, the Central Board of Indirect Taxes and Customs (CBIC) introduced the Quarterly Return Filing and Monthly Payment of Taxes (QRMP) scheme under the GST.

This scheme allows registered individuals who need to furnish Form GSTR-1 & GSTR-3B and have an aggregate turnover of up to Rupees 5 crores to file GSTR-3B on a quarterly basis and pay tax on a monthly basis. They can do so by using a simple challan in FORM GST PMT-06.


The government is empowered under the Central Goods and Services Tax (CGST) Act of 2017 to notify a specific group of registered individuals who must file a return every quarter or part thereof as prescribed in the CGST Rules, 2017.

 According to the CGST Act, 2017, notified individuals must pay the tax due to the government within a prescribed time frame, taking into account particulars such as inward and outward supplies, input tax credit availed, and so on, during a given month.

Benefits

  • Compliances for taxpayers are reduced
  • Taxpayers are required to file Only Four GSTR-3B returns instead of Twelve (12) GSTR-3B returns in a year.
  • Taxpayers will be required to file only Four GSTR-1 returns as Invoice Filing Facility (IFF) is provided under this scheme.
  • Flexible Invoice Filing Feature

Eligibility

  • The QRMP Scheme is open to any registered person who is required to file a GSTR-3B return
  • It has an aggregate turnover of up to Rs.5 crore in the previous financial year.
  • In case the registered person's aggregate turnover exceeds Rs. 5 crores during any quarter of the current financial year, they will become ineligible for the scheme from the following quarter onwards

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