QRMP challan payment

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This query is : Resolved

Quick Summary

If you're on the QRMP scheme and have credit balances in your CGST and SGST electronic ledgers, you can use these to offset your tax liability for the month. This means you don't necessarily need to pay a new challan if your credit balance covers the amount due. The process involves self-assessment, and no specific calculation form needs to be submitted to the GST portal for this adjustment.

Shikha gupta

Shikha gupta (Querist)

20 February 2021 In case there is Credit balance in Electronic Ledger Say 15000/- in CGST and 10000 in SGST then also one has to pay challan either 35% of last challan or self assessment process? Can we adjust the tax liability for Jan month with amount stands in credit balance in electronic ledger?

what is the exact procedure of calculation and making challan payment in GST if one by default opted QRMP scheme

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

20 February 2021 You can adjust the credit balance in electronic ledger go for self assessment process.

Message likes : 2 times

Shikha gupta

Shikha gupta (Querist)

20 February 2021 Sir, is there any calculation to be submitted in any form with GST Portal? for example if the tax liability for Jan month is Rs 24000.00 and there is credit balance in Electronic Ledger is Rs 25000.00 ( in CGST rs 15000 and SGST 5000) so can i adjust the tax and pay SGST Rs 7000.00

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

20 February 2021 Yes, you can do so. . No need for any calculation submission.

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