Some common questions on QRMP – Answers in simple words

Q.1 What is the key difference between QRMP scheme and regular scheme?

Ans. Key difference between QRMP scheme and regular scheme is as follows:

GSTR-3B Return filing GSTR-1 Return Filing Tax Payment
Regular Scheme Turnover <= 1.50 crores MONTHLY QUARTERLY MONTHLY
1.50 crore < Turnover <= 5 crore MONTHLY MONTHLY MONTHLY
Turnover > 5 crore MONTHLY MONTHLY MONTHLY
 
QRMP Scheme Turnover <= 1.50 crores Both Returns Quarterly
OR
Both Returns Monthly
MONTHLY
1.50 crore < Turnover <= 5 crore MONTHLY
Turnover > 5 crore MONTHLY MONTHLY MONTHLY

Q.2 Which scheme is beneficial – QRMP Scheme or Regular Scheme?

Ans. For small taxpayers having annual turnover upto Rs.5 Crores, QRMP scheme is beneficial as they are required to file only 8 returns in a year in said scheme as compared to 16 or 24 (if turnover between 1.50 crores to 5 crores) returns in a year in regular scheme.

Q.3 After 01.01.2021, can taxpayers, having turnover less than 1.50 crores, continue with regular scheme of monthly GSTR-3B and quarterly GSTR-1?

Ans.  No, option for monthly GSTR-3B & quarterly GSTR-1 is not available after 01.01.2021.

Q.4 Is QRMP scheme applicable for Dec-20 GST returns which are to be filed after 01.01.2021?

Ans. No, QRMP scheme is not applicable for Dec-20 returns. It is applicable for Jan-20 returns onwards.

Q.5 Is QRMP scheme optional or mandatory?

Ans.  This scheme is not mandatory. It is optional for taxpayers having turnover upto Rs.5 Crores. For higher turnover, this scheme is not available.

Q.6 How much tax is to be paid in QRMP scheme and how to pay it?

Ans. In QRMP Scheme, the taxpayer would be required to pay the tax in each of the first two months of the quarter in FORM GST PMT-06. Amount of tax to be paid will be calculated as mentioned below:

Tax required to be paid in each of
the Ist & IInd Month of Quarter
Fixed Sum Method Self-Assessment Method
If last return filed was on quarterly basis 35% of tax paid in cash in the preceding quarter An amount calculated by considering the tax liability on inward and outward supplies and the input tax credit available
If last return filed was monthly An amount equal to the tax paid in cash in the last month of the immediately preceding quarter

Q.7 Which type of registered persons are eligible for QRMP scheme?

Ans. In terms of notification No. 84/2020- Central Tax, dated 10.11.2020, a registered person who is required to furnish a return in FORM GSTR-3B, and who has an aggregate turnover of up to 5 crore rupees in the preceding financial year, is eligible for the QRMP Scheme.

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