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Attention GST Taxpayers who have opted for QRMP Scheme!
Deposit due tax liability for January, 2021 by using Form/Challan PMT-06 before the due date February 25, 2021 as Latyye Payment will attract Interest.
Please note that registered persons, opting to file quarterly GSTR-3B return under QRMP scheme, are required to pay tax due in M1 & M2 of the quarter by depositing the due amount in FORM GST PMT-06, by 25th of the succeeding month.(Refer Circular 143/13/2020-GST dated 10.11.2020 and Notification No. 82/2020-Central Tax dated 10/11/2020)
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under qrmp how is the challan paid in the third month of the quarter
Under QRMP Scheme there Monthly tax can be paid in any one of the two methods. 1) Fixed 35% for first two months and balance in the third month of the quarter. 35% of the tax paid through cash in the earlier quarter (if previous in quarterly return option). Or 100% of the tax paid in the earlier month if earlier under monthly return option.OR 2) Self assessment method, where in exact tax payable for each month is worked out and paid. If any shortage in the quarterly return tax and monthly paid tax, then interest payable.
Having ‘tried to create a challan, it is asked to provide Reason for Challan with two options:
1) Monthly Payment for Quarterly Return; and
2) Any other payment
When I selected, “Monthly Payment for Quarterly Return”, again two options of Challan Type popped up as shown below:
1)35% Challan; and
2) Challan on self-assessment basis
On selection of “Challan on Self-assessment basis, a message pops up that interest will be levied if payment is made with this option.
Can you please throw light, how to choose these options and the underlying reasons of such option. What is 35% challan? As each month’s billing differs, how to pay the exact amount of GST collected? please clarify.
Do we need to pay 35% of net Gst of dec20 or 100% of net due or whichever is higher
Hello,
our monthly filling automatically generated as quarterly filling and we have also uploaded B2B. our query is asper new rules we have to pay 35% tax but we have excess input in our GST portal.is it adjusted with old input or we have to pay any tax this time