Quarterly Return Monthly Payment Scheme under GST

CBIC introduced Quarterly Return Monthly Payment (QRMP) Scheme under GST for all those taxpayers whose aggregate turnover is INR 5 crores or less. QRMP scheme was introduced with the motive to reduce the burden of tax compliance on the eligible taxpayers as they can file GSTR-3B quarterly instead of monthly. 

Quarterly Return Monthly Payment (QRMP) Scheme Eligibility 

Any person who is registered under GST and whose aggregate turnover during any preceding financial year is less than INR 5 Crores is eligible to opt for this scheme and can file GSTR-3B quarterly. However, there is a certain deemed option depending on the class of registered person: 

Class of Taxpayers	Deemed Option
Taxpayers whose aggregate turnover is up to INR 1.5 crore, who have furnished GSTR-1 quarterly in the current FY.	Quarterly GSTR-3B
Taxpayers whose aggregate turnover is up to INR 1.5 crore, who have furnished GSTR-1 monthly in the current FY.	Monthly GSTR-3B
Taxpayers whose aggregate turnover is up to INR 5 crore, who have furnished GSTR-1 quarterly in the preceding FY.	Quarterly GSTR-3B

Quarterly Return Monthly Payment (QRMP) Scheme Applicability 

QRMP scheme is applicable on all the eligible taxpayers from 1st January 2021 and it will stay applicable unless the taxpayer opts out or his/her aggregate turnover exceeds INR 5 Crores. 

Period to Enable QRMP Scheme 

Refer to the table below to know when a taxpayer can enable the QRMP scheme for any period of the year. 

Quarters	Period to enable QRMP scheme
April – June	1 Feb 2021 – 30 April 2021
July – Sep	1 May 2021 – 31 July 2021
Oct – Dec	1 Aug 2021 – 31 Oct 2021
Jan – March	1 Nov 2021 – 31 Jan 2022

Interest under QRMP scheme 

Refer to the table below to know the interest payable under the QRMP scheme under GST:  

S No	Cases	Interest Under QRMP Scheme
1	Tax liability mentioned in GST PMT-06 paid by the 25th of the following month	Nil
2	Tax liability mentioned in GST PMT-06 is not paid by the 25th of the following month	18% (from 26th of the following month till the payment date)
3	Tax paid for the first 2 months is less than or equal to the amount paid through GST PMT-06	Nil
4	Tax paid for the first 2 months is higher than the amount paid through GST PMT-06, and the excess tax is paid within due date of GSTR-3B.	Nil
5	Tax paid for the first 2 months is higher than the amount paid through GST PMT-06, and the excess tax is not paid within due date of GSTR-3B.	18% (From the due date of GSTR-3B till the date of payment)

The due date to file GSTR-3B is either 22nd or 24th depending upon the state of the taxpayer. 

Fee for Late Tax Payment under QRMP scheme 

The late fee will be levied on the taxpayer if he/she fails to file GSTR-3B within the due date: 

Type of Tax	Fee for Late Tax Payment under QRMP Scheme	Fee for Late Tax Payment under QRMP Scheme in case of nil tax liability
CGST	INR 25	INR 10
SGST	INR 25	INR 10
IGST	INR 50	INR 20

Note 1: The maximum amount of late fee that can be levied on the taxpayer cannot exceed INR 5000 amount. 

Note 2: In case if the taxpayer delay tax payment for the first 2 months of the quarter no late fee is charged to him or her. 

Filing GSTR-1 under QRMP Scheme – Points to Remember

The QRMP Scheme was introduced under GST on 1st January 2021 for all those taxpayers whose aggregate turnover is less than INR 5 Crores. Under the QRMP scheme, the taxpayer can file GSTR-3B quarterly and pay tax monthly. Moreover, taxpayers who have decided on the QRMP plan can utilize the IFF to transfer their invoices each month.

Howsoever, it shall be noted that the IFF can be utilized by the taxpayer for the initial 2 months of a quarter. The invoices pertinent to the most recent month of the quarter must be transferred in the GSTR-1 itself. The due date to file the GSTR-1 under the QRMP scheme thirteenth day of the month following the 3rd quarter. For instance, for the quarter April-June 2021, taxpayers who have selected the QRMP scheme need to file the GSTR-1 by 13 July 2021. In this blog, we will try to cover all the important points that you should note at the time of filing GSTR-1 under the QRMP scheme.

Filing GSTR-1 under QRMP Scheme – Points to Remember

Here are the two points that you should remember at the time of filing GSTR-1 under the QRMP scheme:

1. If a Taxpayer neglects to file subtleties saved in the IFF (for the initial 2 months of the quarter), the equivalent can’t be recorded after the due date (13th of the month succeeding the IFF time frame). For this situation, Taxpayers need to disclose such records in the GSTR-1 of that quarter.
2. Taxpayers need to erase the saved data that is not furnished in IFF records of the initial 2 months of the quarter (month of April and May 2021) by utilizing the reset button available before furnishing GSTR-1 for the quarter. These erased records ought to be included in the GSTR-1. However, for the previous quarter (Jan – Mar 2021), the government notified that before filing GSTR-1, the taxpayer first to submit the records that were not filed in IFF.

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