Goods and Services Tax : Optimize GST compliance with the QRMP scheme for small taxpayers. Eligibility up to ₹5 crore turnover. Quarterly returns, monthl...
Goods and Services Tax : Learn about new QRMP Scheme under GST with tax payment, eligibility, return filing, and late fees. Get all the details of the GST ...
Goods and Services Tax : Quarterly Return and Monthly Payment Scheme (w.e.f. 01.01.2021) The scheme is GSTIN wise. It means that having different GSTIN und...
Goods and Services Tax : GST Returns: Monthly vs Quarterly Point of difference Monthly Quarterly (QRMP) Applicability Mandatory if Annual Aggregate Turnove...
Goods and Services Tax : How to match the books of accounts input tax credit balance with GST Credit ledger who opts QRMP scheme. (Assumption that the tax ...
Goods and Services Tax : Few important changes related to QRMP Scheme have been implemented on the GSTN Portal for the taxpayers on 06/07/2021 which includ...
Goods and Services Tax : New Features of Form GSTR-2B & GSTR-3B Made Available To Taxpayers Under QRMP Scheme 1. The new features related to filing of ...
Goods and Services Tax : Updates In Forms GSTR-1, GSTR-3B And Matching Offline Tool For Taxpayers In QRMP Scheme With effect from 1st January, 2021, all ta...
Goods and Services Tax : 1. All taxpayers having aggregate turnover up to Rs 5 crores, under QRMP Scheme (w.e.f. 01.01.2021 onwards), are required to furni...
Goods and Services Tax : Attention GST Taxpayers who have opted for QRMP Scheme! Enjoy the convenience of Invoice Furnishing Facility (IFF) to enable the f...
Goods and Services Tax : The Calcutta High Court directed GSTN authorities to carry out backend changes after the GST portal failed to process the taxpayer...
Goods and Services Tax : As a trade facilitation measure and in order to further ease the process of doing business, the GST Council in its 42nd meeting he...
Goods and Services Tax : 1. An Invoice Furnishing Facility (IFF) facility has been provided to taxpayers under QRMP Scheme (Quarterly filers of Form GSTR-1...
Income Tax : Who can opt for the scheme: Following registered person (hereinafter RP) can file quarterly returns and pay tax on monthly basis w...
Goods and Services Tax : Government has issued following notifications to implement the Scheme of quarterly return filing along with monthly payment of tax...
Waiver of interest and late fee to normal taxpayers (filing return on monthly or quarterly basis) and composition taxpayers, for the tax periods of March and April, 2021 Government has granted waiver from payment of interest and/or late fee to normal (Monthly / Quarterly) & composition taxpayers for the tax periods of March and April, […]
From 1st January 2021 QRMP (Quarterly return monthly payment) scheme came into existence, which allowed to registered person having aggregate turnover upto Rs.5 crore in preceding financial year to opt for QRMP scheme. Therefore this scheme is not available to registered having aggregate turnover of Rs.5 crore in preceding financial year. This Scheme is optional […]
Article explains Reasons why you should select Monthly GST Return & Payment System Frequency instead of Quarterly GST Return & Payment System QRMP and Standard procedure for or QRMP Frequency Selection for those who are having Average Annual Turnover (AATO) below Rs. 5 crore in FY 2020-21. Logical Reasons why to select ‘Monthly’ even if […]
New Features of Form GSTR-2B & GSTR-3B Made Available To Taxpayers Under QRMP Scheme 1. The new features related to filing of Statement/ Returns by taxpayers under QRMP Scheme, for the quarter Jan-Mar., 2021, which has been made available to them are summarized below. Also Read:Updates in Forms GSTR-1, GSTR-3B & Matching Offline Tool for […]
Updates In Forms GSTR-1, GSTR-3B And Matching Offline Tool For Taxpayers In QRMP Scheme With effect from 1st January, 2021, all taxpayers with Annual Aggregate Turnover up to Rs 5 Crore have been given an option to file their Form GSTR-1 Statement and Form GSTR-3B return on a quarterly basis. They also have an option […]
1. All taxpayers having aggregate turnover up to Rs 5 crores, under QRMP Scheme (w.e.f. 01.01.2021 onwards), are required to furnish return on quarterly basis, along with payment of tax on monthly basis.
I have made an attempt to compile the following information in respect of QRMP Returns schema as I find lot of members have lot of questions in respect of same. It is just an attempt by me to address some aspects of scheme for the benefits of all. Points to be considered while filing GSTR […]
Eligibility: a) Effective from 01st Jan,21 b) Registered Person with Aggregate Turnover (PAN wise) upto Rs 5 Crores c) Option can be availed GSTIN wise d) Return for Preceding Month as on date of exercising option has been furnished New Monthly Compliance/Payment *: a) IFF : 1st/2nd Month of Quarter (Upload B2B Invoices upto Rs […]
As a trade facilitation measure and in order to further ease the process of doing business, the GST Council in its 42nd meeting held on 05.10.2020, had recommended that registered person having aggregate turnover up to five (5) crore rupees may be allowed to furnish return on quarterly basis along with monthly payment of tax, with effect from 01.01.2021. Government has issued following notifications to implement the Scheme of quarterly return filing along with monthly payment of taxes
Attention GST Taxpayers who have opted for QRMP Scheme! Enjoy the convenience of Invoice Furnishing Facility (IFF) to enable the flow of ITC to the recipients by furnishing B2B invoices for February 2021 by March 13, 2021.
