GST – QRMP Scheme (Quarterly Return Monthly Payment)

Introduction

  • Quarterly Return Monthly Payment is an optional scheme, it is implemented
    from 1st January 2021.
  • In This scheme Taxpayer is required to file GSTR-3B Return Quarterly instead of
    filing Monthly GSTR-3B Return.

Applicability

  • This scheme is applicable for the Taxpayer having turnover up to 5 Crores in
    preceding Financial year.
  • Definition of Turnover is Aggregate turnover of Preceding FY Pan Wise, However, Taxpayers
    can exercise this option GSTN wise.

Opt-In
Time Limit for Exercising QRMP Option:

  • Taxpayer can opt into the scheme throughout the year.
  • Taxpayer can exercise QRMP Option from 1st Day of 2nd month of Preceding Quarter till
    last date of 1st month of Quarter.
Period Last Date for Exercise
April to June Quarter 1st Feb to 30th April
July to September Quarter 1st May to 31st July
October to December Quarter 1st August to 31st October
January to March Quarter 1st November to 31st Jan

Payment of Taxes

  • Taxpayer shall the paid tax due in 1st two months of the quarter by 25th of the Next
    month of the quarter.

For E.g. In April to June Quarter, the Taxpayer shall pay the tax due in April month by 25th May and
Tax Due in May by 25th June.

  • Taxpayer shall pay tax using PMT-06 from in 1st two months of the quarter before the 25th
    of the following month of the quarter. The taxpayer shall select “Monthly payment for the quarterly taxpayer” at the time of generating
    challan.
  • There are two methods that taxpayers can use for Making Payment and Determining liability after adjusting ITC.
    1. Fixed Sum Method
    2. Self-Assessment Method
  • However, Tax Deposited in 1st Two months can be used only for making payment of liability at the time of filing
    GSTR-3B of the quarter and can not be used for any other purpose till the GSTR-3B filed for the quarter.

Fixed Sum Method
In the Fixed sum Method following amount is required to be paid based on the Quarterly Monthly filing of return.
(It is available in Pre-filled challan)

If Taxpayer filing GSTR3B Monthly 1st Feb to 30th April
July to September Quarter 100% of Tax paid in cash in Preceding Month
If Taxpayer filing GSTR3B Quarterly 35% of Tax Paid in cash in preceding Quarter

Self-Assessment Method
In this Taxpayer needs to calculated liability manually and pay the tax.

Tax Liability on Onward Supplies+ Tax on Reverse Charge supply- Eligible Input
Tax Credit = Tax Liability

Opt-Out

  • Taxpayer can opt out from the scheme after crossing turnover of ₹5 Crore.
  • Taxpayer can opt out from QRMP Option from 1st Day of 2nd month of Preceding Quarter till
    last date of 1st month of Quarter.