What is QRMP

You can refer the article in articles section for better understanding

Quarterly Returns Monthly Payment for taxpayers turnover less than 5 crores

It is not mandatory

Small Taxpayers i.e. Taxpayers having Aggregate Turnover upto Rs. 5 crores have been given the option to file Quarterly Return and Pay taxes on Monthly basis, inorder to reduce the compliance burden on small taxpayers.

It will be applicable from Q4 of FY 21 ( Jan-Feb-March ) and the timeline to opt in for the scheme is 5th December 2020 to 31st January 2021 for Q4 of FY 21.

Sir you can refer the official twitter handle of GSTN Tech to know more about the Quarterly Return and Monthly Payment of Taxes ( QRMP ) Scheme.

Moreover GSTN System by "Default" added the taxpayers having aggregate turnover upto Rs. 5 crores to the QRMP Scheme for smooth transition to the new return filing process. The same has been intimated to the registered taxpayers by sending a SMS to their registered mobile number ( sms ) or via registered email id.

Quarterly Returns with Monthly Payment (QRMP) Scheme is for eligible taxpayers to file their Form GSTR-1 and Form GSTR-3B returns

For More Details Refer Below Link

https://youtu.be/Py2A2dKce6k

 

Thanks With Regards

Ravi SADhiyan

Registered taxpayers required to file GSTR 3B & having aggregate turnover up to Rs. 5 Crores in preceding FY (from FY 20-21) may opt to furnish GST returns on a Quarterly basis with a monthly payment of tax w.e.f 1st Jan, 2021 under Quarterly Returns and Monthly Payment Scheme (QRMP).