As a trade facilitation measure and in order to further ease the process of doing business, the GST Council in its 42nd meeting held on 05.10.2020, had recommended that registered person having aggregate turnover up to Rs 5 crore may be allowed quarterly filing of GSTR-3B along with monthly payment of tax, with effect from 01.01.2021. In line with above, the Government has issued notifications to implement the Scheme of quarterly return filing along with monthly payment of taxes (referred to as “QRMP Scheme”).
For further details on QRMP Scheme Click Here. For Notification on QRMP Scheme click here and for Circular Click here.
GSTN has enabled option for opting quarterly filing of GST return viz GSTR-3B under Quarterly Return Monthly Payment (QRMP) scheme.
For ready reference of our readers the snaps of the relevant windows on the GST portal are given below:
Once a taxpayer opts-in he may file his FORM GSTR-1 and FORM GSTR-3B returns on a quarterly basis while paying their tax dues monthly through simple challan. This form for opting in the scheme shall be made available from the 5th of December 2020.
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Frah Saeed is a law graduate specializing in the core field of indirect taxes and is the Co-founder of taxwallah.com. She has authored many publications on GST and is into full-time consultancy on GST to big corporates. She as a part of taxwallah.com heads a team comprising of Chartered Accountants and Advocates and plays a key role in our mission to disseminate GST knowledge to all.
