QRMP Scheme (Quarterly Return Monthly Payment Scheme) – New GST Return System w.e.f. 01-Jan-2021

Key Highlights of the QRMP Scheme: 

1. Eligibility for QRMP Scheme

• A registered person who is required to furnish a return in Form GSTR-3B, and who has an aggregate turnover of upto Rs. 5 crores in the preceding financial year, is eligible for the QRMP Scheme.

• Clarification 1: The aggregate annual turnover for the preceding financial year shall be calculated in the common portal considering the details furnished in the returns by the taxpayer for the tax periods in the preceding financial year. And it should be PAN wise. If a taxpayer having 2 or more GSTIN’s then the aggregate turnover of all should be taken for eligibility.

• Clarification 2: In case the aggregate turnover exceeds 5 crore rupees during any quarter in the current financial year, the registered person shall not be eligible for the Scheme from the next quarter.

• Clarification 3: The option to avail the QRMP Scheme is GSTIN wise and therefore, distinct persons as defined in Section 25 of the CGST Act (different GSTINs on same PAN) have the option to avail the QRMP Scheme for one or more GSTINs. In other words, some GSTINs for that PAN can opt for the QRMP Scheme and remaining GSTINs may not opt for the Scheme.

2. Monthly Payment

• The registered person under the QRMP Scheme would be required to pay the tax due in each of the first two months of the quarter by depositing the due amount in FORM GST PMT-06, by the twenty fifth day of the month succeeding such month.

3. Furnishing of details of Outward Supplies IFF (Invoice Furnishing facility) and Form GSTR1

• The registered persons opting for the Scheme would be required to furnish the details of outward supply in FORM GSTR-1 quarterly as per the rule 59 of the CGST Rule.

• For each of the first and second months of a quarter, such a registered person will have the facility (Invoice Furnishing Facility- IFF) to furnish the details of such outward supplies to a registered person, as he may consider necessary, between the 1st day of the succeeding month till the 13th day of the succeeding month.

• The said details of outward supplies shall, however, not exceed the Rs. 50 Lakhs in each month. It may be noted that after 13th of the month, this facility for furnishing IFF for previous month would not be available.

SOURCE : CBIC NOTIFICATIONs

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