Still filed GSTR1 under QRMP scheme but this year turnover cross Rs 2 Cr

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This query is : Resolved

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If your business turnover has exceeded ₹2 crore this year, you may need to change your GSTR1 filing frequency from quarterly under the QRMP scheme to monthly. While the QRMP scheme allows filing quarterly for turnovers up to ₹5 crore, exceeding the ₹2 crore threshold might necessitate a switch to monthly filings to ensure compliance with GST regulations.

VIKAS KUMAR SHARMA

VIKAS KUMAR SHARMA (Querist)

12 April 2024 Sir
we are filing GSTR1 under QRMP scheme but this year(march 2024) turnover crossed Rs 2cr
should we need to change frequency of GSTR1 quarterly to Monthly????
or can remain same with QRMP scheme
regards
vikas

CA. Bhavik P. Chudasama

CA. Bhavik P. Chudasama (Expert)

12 April 2024 Yes change to Monthly Periodicity

VIKAS KUMAR SHARMA

VIKAS KUMAR SHARMA (Querist)

12 April 2024 Sir thanks for your prompt reply
below mentioned information available on SetIndia.com
Mandatory if aggregate annual turnover is more than Rs.5 crores VS Can be opted if the aggregate annual turnover is upto Rs. 5 crores
waiting for your precious opinion

CA. Bhavik P. Chudasama

CA. Bhavik P. Chudasama (Expert)

12 April 2024 QRMP Scheme is for Turnover upto 5 Crores, so it is client's call to file Monthly or Quarterly

VIKAS KUMAR SHARMA

VIKAS KUMAR SHARMA (Querist)

13 April 2024 Sir Thanks for your prompt reply every time
I just want to reconfirm IT'S OK IF WE CONTINUE WITH PREVIOUS SCHEME QUATERLY
actually we are not interested Monthly filing
waiting your precious advise

CA. Bhavik P. Chudasama

CA. Bhavik P. Chudasama (Expert)

13 April 2024 Sure because in case if your liable, GST Portal would have selected Default Periodicity as Monthly and had not given you option for QRMP Scheme

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