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Tax Payment in QRMP Scheme

Analytic Business Consulting   24 February 2021

Analytic Business Consulting

 10 likes  139 points

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Sir/ Madam,

I had choosed for Self Assessment method since there is no tax payment in previous month.

Since, there is no full ITC in GSTR 2B and im forced to pay a higher Tax in cash to avoid interest liabilities for the two months( Same the case may be in the month 2 too).

And when filing the third month return there may be much ITC and the paid tax in cash in month 1 & 2 stands fully unutilised.

Can I apply for a refund of the balance cash ? Or what should I do while calculating the tax liability in 1&2 months of the quarter to avoid excess tax payments ?

Please guide me.

Kindly make a reply.
CA Altamush Zafar

CA Altamush Zafar (GST Consultant)     25 February 2021

CA Altamush Zafar
GST Consultant 
 340 likes  5816 points

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Restriction on itc will obviously cause working capital problems.
However if you will have itc as per 2b at the end of quarter and after adjusting you have excess cash in cash ledger you can claim refund.
For further query you can mail me
1 Like
Analytic Business Consulting

Analytic Business Consulting   25 February 2021

Analytic Business Consulting

 10 likes  139 points

View Profile | My Other Post
Thanks Sir

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