Now taxpayers up to Rs. 5 Cr turnover have the option to file their GSTR-1 and GSTR-3B returns quarterly.
Introducing Quarterly Return Monthly Payment (QRMP) Scheme
The scheme will be made available from January 1st 2021
You can opt-in to the scheme from 5th December 2020
- Now, small taxpayers with Aggregate turnover up to Rs. 5 cr may file their FORM GSTR-1 and FORM GSTR-3B Quarterly
- And make monthly payment through a simple challan
To opt in for the scheme —> Login —> Services —> Returns —> Opt-in for quarterly return
Now, small taxpayers with aggregate turnover up to Rs 5 Cr may file their FORM GSTR-1 and FORM GSTR-3B quarterly
No Interest applicable if 35% challan is paid by 25th of the succeeding month
Invoice Furnishing Facility (IFF): An optional facility for Furnishing B2B invoices and passing Input Tax Credit in month 2 of a quarter
GSTR-2A view to be provided every month
quarterly GSTR-1 and GSTR-3B may be filed through simple SMS also
monthly payment to be done by a simple challan either
- By self assessment of monthly liability or
- 35% of net cash liability of previous filed GSTR-3B of the quarter
No Payment required if you have no liability for the month or your balance in electronic cash or credit ledger is more than your liability
Different GSTINs on same PAN may file monthly or quarterly in different States
GSTR-2B view to be provided both monthly and quarterly
Scheme opens on 5th December 2020
If I have opted in for quarterly returns, how will I make monthly payments?
You may exercise any of the two options to make payment in the first two months of the quarter:
Self – Assessment : You may self-assess your your current month’s liability (net of Input Tax Credit) and generate a challan for the same
OR
Pay 35% : You may file a system generated challan of 35% of your net cash liability filed in your last filed Quarterly FORM GSTR-3B.
No calculation / assessment has to Lbe done by you
However, you don’t need to pay anything if you have no liability in M1 or M2 of the quarter or aggregate balance in your electronic cash and credit ledger is greater than your liability
Who all are eligible for the scheme?
All registered taxpayers are eligible to avail the benefit of the scheme if:
i) Their aggregate annual turnover (PAN based) in the preceding financial year and current financial year is up to Rs. 5 cr
And
ii) Their last FORM GSTR-3B is duly filed
How can I opt-in or opt-out for quarterly Return Monthly Payment (QRMP) Scheme?
You can opt-in or opt-out of the Scheme by navigating to Login -> Services -> Returns -> Opt-in for quarterly return
You can opt-in to the scheme from 5th December 2020
For Jan-March 2021 Quarter you can opt-in to the scheme from 5th December 2020 to 31st January 2021
When can I opt-in for quarterly filing?
Normally you can opt-in to the Scheme in every Quarter as the following dates.
| Quarter | Between |
| Q1 (April – May – June) | 1st February to 30th April |
| Q2 (July – August – September) | 1st May to 31st July |
| Q3 (October – November- December) | 1st August to 31st October |
| Q4 (January – February – March) | 1st November to 31st January |
Remember, once opted-in, the same option will continue for all Quarters, unless you opt-out.
If I am Quarterly taxpayer when do I see my GSTR-2A and GSTR-2B?
You will be able to see GSTR-2A and GSTR-2B for every month.
You will also be able to see a GSTR-2B Quarterly view under the return tab for the third month of the Quarter.
What action do I need to take in the third month of the Quarter?
You need to file your FORM GSTR-1 (Quarterly) and FORM GSTR-3B (Quarterly).
| FORM GSTR-1 (Quarterly) | FORM GSTR-3B (Quarterly) |
Introducing Invoice Furnishing Facility (IFF)
As a Quarterly filer can I pass credit on monthly basis?
Yes! You may use IFF which has the following features:
- It is an Optional facility for Quarterly filers
- It has all B2B tables of GSTR-1
- Invoices declared in filed IFF will reflect in GSTR-2A and GSTR-2B of buyers
- IFF will expire on the 13th of next month
Can Quarterly filers file Nil return through SMS?
Yes, Quarterly taxpayers may send the following SMS to 14409 to file a Nil GSTR-1 or Nil FORM GSTR-3B
MM should be the last month of the Quarter for which the return is being filed.
For example, for the month of June 2020, taxpayer shall send NIL 3B XXXXXXXXXXXXXXX062020 to 14409
For smooth transition to the QRMP scheme, the system has already assigned monthly and Quarterly return filing frequencies to 1.09 crore registered taxpayers depending on their previous year annual aggregate turnover and filing of OCT-20 form GSTR-3B
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What do I need to Check?
Please check your registered email address (including spam) for more details.
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What can I do?
- You may also change your frequency by navigating to Log in > Services > Opt in for QRMP scheme.
- Remember the last date for opting in / opting out is 31.01.2021 for the quarter Jan-Mar 2021.
