The new features related to filing of Statement/ Returns by taxpayers under QRMP Scheme, for the quarter Jan-Mar., 2021, which has been made available by GSTN on the portal to the taxpayers are summarized below.
Auto Generation of Form GSTR-2B, for the QRMP taxpayers
a)Form GSTR-2B contains details of filed IFFs (for Month M1 & M2) & filed Form GSTR 1 (for Month M3).
b)Form GSTR 2B has two sections of ITC i.e. ITC available and ITC not available (which flows from the supplier’s filed IFF & Form GSTR-1, imports etc). It also contains tax liability of the taxpayer (which flows from the taxpayers own filed IFF & Form GSTR-1).
c)Taxpayers can view and download their system generated Quarterly Form GSTR-2B for Jan-March, 2021 quarter, by clicking on Auto-drafted ITC statement for the quarter on 14th April, 2021, by selecting the last month of the quarter (M3).
d)The default view of Form GSTR-2B is quarterly. However to view Form GSTR-2B of a particular month (M1, M2 or M3), taxpayer has an option to select appropriate month, from the view drop-down to view that month’s data.
e)A hyperlink ‘View advisory’ has also been provided, which on clicking displays the criteria/ cut-off dates considered for quarterly GSTR-2B as a pop-up, with details of Supplies from/type i.e. Monthly taxpayer, Taxpayer in QRMP Scheme, NRTP, ISD & Import from Overseas/SEZs, and ‘From date’ and ‘To date’ based on which Form GSTR-2B has been generated.
Auto-population of ITC in Form GSTR-3B for the QRMP taxpayers
a) Figures of ITC available and ITC to be reversed will now be auto-populated in Table 4 of Form GSTR-3B, for the QRMP taxpayers, from their system generated quarterly Form GSTR-2B.
b) On the GSTR-3B dashboard page, an additional button ‘System computed GSTR-3B’ has also been provided, by clicking which system computed Form GSTR-3B can be downloaded in PDF format.
c) Taxpayer can edit the auto-drafted values as per their records and save the updated details.
d) The system will show a warning message to taxpayers in case ITC available is increased by more than 5% or ITC to be reversed is reduced even partially, by them. However, the system will not stop the filing of Form GSTR-3B in such cases.
Also Read: FAQs on Invoice Furnishing Facility (IFF) under QRMP Scheme
Follow us for free tax updates : facebook Twitter
***
Subscribe our portal and get FREE Tax e-books , quality articles and updates on your e-mail.
Resolve your GST queries from national level experts on GST free of cost.
TW Editorial Team comprises of team of experienced Chartered Accountants and Advocates devoted to spread the knowledge of GST amongst the various stakeholders.