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Regarding QRMP Scheme

24 January 2021

From January onwards, small taxpayers have two options

1) File GSTR 1 & 3B Quarterly (With Monthly Tax Payment)

2) File GSTR 1 & 3B Monthly

Don't we have earlier option to file GSTR 1 Quarterly & GSTR 3B Monthly??????

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11 Replies

CA. Sourav Sarkar (Chartered Accountant ) (24578 Points)
Replied 24 January 2021

Yes you can opt for qrmp scheme if your turnover is upto 5 crores rupees by opting for monthly or quarterly payments but dept. in the portal previously selected the type of payment on its own if you want to change the type you can but they will show warning pop-up in the portal

Hardik Hindocha (93 Points)
Replied 24 January 2021

Don't we have earlier option to file GSTR 1 Quarterly & GSTR 3B Monthly??????

CA. Sourav Sarkar (Chartered Accountant ) (24578 Points)
Replied 24 January 2021

No it's not earlier available only monthly payment was available earlier , only composition dealer can pay quarterly earlier

Hardik Hindocha (93 Points)
Replied 24 January 2021

Sourav, those having turnover below 5cr. had an option to file GSTR 1 Quarterly + GSTR 3B Monthly... I'm talking about that option...

CA Rashmi Gandhi (Chartered Accountant) (86250 Points)
Replied 24 January 2021

No such option is there either Go for Quarterly Filing with monthly payment or monthly filing of GSTR-1 & GSTR-3B

2 Like

CA. Sourav Sarkar (Chartered Accountant ) (24578 Points)
Replied 24 January 2021

Yes you can choose such option by opting either fixed amount method or self assessment method of paying tax

Divyam Agarwal (Practicing Chartered Accountant) (959 Points)
Replied 26 January 2021

No such option available as was available earlier before QRMP.

1 Like

Pankaj Rawat (GST Practitioner) (55032 Points)
Replied 26 January 2021

In term of Rule 59(3) the taxpayer opted QRMP scheme can furnish the outward supply using IFF (Invoice Furnishing facility) for the first & second months of Qtr. , shall not required to in form GSTR 1 for the Qtr.
So you can furnish monthly outward supply which automatically reflected in your GSTR 1 which is going to be filed Qtly.

1 Like

Hardik Hindocha (93 Points)
Replied 26 January 2021

Irrespective of whether we choose Monthly or Quarterly returns, we will be complying with the law on monthly basis.. People will be paying their tax dues every month in some or the other way, and IFF is optional from government's viewpoint but we will make our suppliers/our customers will make us upload the bills regularly because of ITC restrictions & GSTR-2B

CA Rashmi Gandhi (Chartered Accountant) (86250 Points)
Replied 27 January 2021

Completely agree with you on this Hardik

3 Like

Abhay Gajera (23 Points)
Replied 28 January 2021

Quarterly case : only for B2B sales details in monthly GSTR-1 and B2C sales details in quarterly GSTR-1 and 35 ℅ tax pay in monthly and GSTR-3b quarterly filed.
Monthly case : fully sales details in monthly GSTR-1 and GSTR-3b monthly filed and tax pay monthly