TAX PAYBLE QRMP SCHEME

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This query is : Resolved

Quick Summary

If you're on the QRMP scheme and have excess input tax credit for April, meaning your tax payable is zero, you are not required to deposit any tax. The scheme offers two payment options: self-assessment or ad-hoc. Since your self-assessment tax amount is zero, no payment is necessary for that period.

Dibyendu Majumder

Dibyendu Majumder (Querist)
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28 May 2021 I Have one client filling return under QRMP Scheme, In this scheme his tax was payable from Jan 21 to March 21 is 58838/-, but now for the month of April 21 he have excess input & no tax has been payable , Is he liable to deposit tax @35% of INR 58838/- for the month of April 21 in this scheme ? as no tax is payable he cannot create challan in self assessment method . Please reply

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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28 May 2021 In such a case he is not liable to deposit tax@ 35%.

CA Dhruva Kalamanji

CA Dhruva Kalamanji (Expert)
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29 May 2021 Hi Dibiyendu

In this case not required to pay any GST, QRMP has two option either self assessment or adhoc basis, so in your case self assessment is amount is Zero so no need to pay anything

Should you have any further query kindly write to us at sthayin@gmail

Thank you