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Quarterly Return Monthly Payment Scheme under GST

Online Legal India LogoBy Online Legal India Published On 09 Jan 2021 Updated On 06 Jan 2023 Category GST

The GST council introduced the QRMP scheme in 42nd Council meeting to ease of doing business and to provide relief to small taxpayers. It is a scheme to file a return every quarter but making a payment every month, which will reduce the burden of return filing.

What is the QRMP Scheme?

The QRMP scheme under GST is brought into effect by CBIC keeping in mind to help small taxpayers whose turnover is less than Rs5 crore. The QRMP scheme allows the taxpayers to file GSTR-3B every quarter and pay tax every month beginning from January-March,2021 period.

Who is eligible for the Scheme?

1. Taxpayer having taxable turnover up to Rs. 5 Crore in preceding and current financial year.

2. Taxpayers who are liable for filing of GSTR-3B return.

3. All the returns on the date of opting for the scheme has been furnished.

4. When annual aggregated turnover crosses INR 5 Crores during a quarter, the taxpayer will become ineligible for the Scheme from next quarter.

5. Any person obtaining a new GST registration or opting out of the Composition Scheme.

 

Monthly/Quarterly filing of GSTR-3B

 The GSTN case of registered persons falling in the categories specified in the table below, who have furnished their GSTR-3B return for October 2020 by 30th November 2020, it shall be considered that they have opted for monthly or quarterly filing as detailed below-

 

No.

Class of Registered Persons

Option

1

Registered individuals with an aggregate turnover of up to Rs.1.5 crore, who have furnished Form GSTR-1 quarterly in the current financial year

Quarterly GSTR-3B

2

Registered persons with an aggregate turnover of up to Rs.1.5 crore, who have furnished Form GSTR-1 monthly in the current financial year

Monthly GSTR-3B

3

Registered persons having an aggregate turnover exceeding Rs.1.5 crore and up to Rs.5 crore in the preceding financial year 

Quarterly GSTR-3B

The taxpayers referred to in the No. 2 in the above table can change the default option and opt for quarterly GSTR-3B filing between 5th December 2020 and 31st January 2021.

 Due dates for filing quarterly GSTR-3B

 

 No

GST Registration in States and Union Territories

Due Date

1

Chhattisgarh, Madhya Pradesh, Gujarat, Dadra and Nagar Haveli, Daman and Diu, Maharashtra, Karnataka, Goa, Lakshadweep, Kerala, Tamil Nadu, Puducherry, Andaman and Nicobar Islands, Telangana and Andhra Pradesh

22nd of the month succeeding such quarter

2

Jammu and Kashmir, Ladakh, Himachal Pradesh, Punjab, Chandigarh, Uttarakhand, Haryana, Delhi, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Mizoram, Manipur, Tripura, Meghalaya, Assam, West Bengal, Jharkhand and Odisha

24th of the month succeeding such quarter

 Late fine under QRMP scheme

The late fee should be paid as follows if the quarterly GSTR-3B is not filed within due date, subject to a maximum late fees of Rs 5,000:

 

Name of the Act

Late fee for delay

Per day

Late fee for every day of delay

(in case of ‘Nil’ tax liability)

CGST Act

Rs.25

Rs.10

SGST Act

Rs.25

Rs.10

IGST Act

Rs.50

Rs.20

However, it is clarified that no late fee is levied for delay in payment of tax in the first two months of the quarter in form GST PMT-06.


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