QRMP scheme launched for GST payers with turnover up to Rs 5 Cr
PrintListen to this Article
0:00
0:00
The government has launched the Quarterly Return filing & Monthly Payment of Taxes (QRMP) scheme for small taxpayers under GST system.
Taxpayers with aggregate annual turnover of up to Rs 5 crore in the preceding financial year and have filed their October GSTR-3B (sales) return by November 30, 2020, are eligible for this scheme.
The GST Council in its meeting held on October 5, had said that registered person having aggregate turnover up to Rs 5 crore may be allowed to furnish return on quarterly basis along with monthly payment of tax, with effect from January 1, 2021.
With the launch of the QRMP scheme on December 5, taxpayers up to Rs 5 crore turnover have the option to file their GSTR-1 and GSTR-3B returns quarterly beginning January-March period.
Taxpayers can make GST payments through challan every month either by self-assessment of monthly liability or 35 per cent of net cash liability of previous filed GSTR-3B of the quarter.
Quarterly GSTR-1 and GSTR-3B can also be filed through an SMS. #casansaar (Source - PTI, EconomicTimes)
Taxpayers with aggregate annual turnover of up to Rs 5 crore in the preceding financial year and have filed their October GSTR-3B (sales) return by November 30, 2020, are eligible for this scheme.
The GST Council in its meeting held on October 5, had said that registered person having aggregate turnover up to Rs 5 crore may be allowed to furnish return on quarterly basis along with monthly payment of tax, with effect from January 1, 2021.
With the launch of the QRMP scheme on December 5, taxpayers up to Rs 5 crore turnover have the option to file their GSTR-1 and GSTR-3B returns quarterly beginning January-March period.
Taxpayers can make GST payments through challan every month either by self-assessment of monthly liability or 35 per cent of net cash liability of previous filed GSTR-3B of the quarter.
Quarterly GSTR-1 and GSTR-3B can also be filed through an SMS. #casansaar (Source - PTI, EconomicTimes)
Category : GST | Comments : 0 | Hits : 623
In a significant judgment, the Bombay High Court has clarified that summons issued under the Central Goods and Services Tax (CGST) Act are meant strictly for inquiry and recording of statements, and c...
Please click on the link below to view the gross and net GST revenue collections for the month of Jan, 2026. https://tutorial.gst.gov.in/downloads/news/final_approved_monthly_gst_data_for_pub...
Jan 23rd, 2026 An advisory on reporting of taxable value and tax liability under RSP-based valuation in e-Invoice, e-Way Bill and GSTR-1 / GSTR-1A / IFF has been issued for the information ...
Comments