On 16th January Twitter user Sudhir Parmar has asked CBIC two question related to claim of ITC in case of filing of Quarterly Return by Supplier. Question asked were as follows:-
1. Will the Buyer of QRMP opter get ITC each month if the tax payer files R1 at quarter end, instead of uploading invoices monthly thru IFF ?
2. Will there be waiver of Interest incase tax payers pays tax in Quarterly 3B?
In response to Question CBIC has responded as follows:-
1. The credit will be reflected in GSTR2B of the buyer for M1 and M2 of the quarter, if the supplier, filing quarterly returns, uploads details of the invoices through optional IFF for the said months.
2. However, if the supplier furnishes details of the invoices only in his quarterly GSTR-1, the same will be reflected in GSTR 2B of the buyer for M3 of the quarter.
3. The taxpayer is required to pay tax during M1 and M2 also. In case of failure or delay in paying due tax as per self assessment or as per auto- generated challan for M1 and M2, the interest on the same will be payable.
4. For further clarifications relating to QRMP Scheme, please refer to Circular No. 143/13/2020- GST, dated 10th November, 2020.
