Quarterly Returns Monthly Payment (QRMP) Scheme

• Taxpayers whose Aggregate Annual Turnover (AATO) during previous FY and current FY was up to Rs 5 Cr. would become eligible to file quarterly returns and pay tax on monthly basis w.e.f. 01.01.2021, under QRMP Scheme. A profiling option has been enabled on the GST Portal for all such taxpayers to choose between quarterly / monthly option for a quarter as per the scheme.

• For qtr. Jan., 2021 to March, 2021, all Registered Persons (RPs) whose AATO for the FY 2019-20 is up to Rs 5 Cr. and have furnished the return in Form GSTR-3B for the month of October, 2020 by 30th Nov., 2020, has been migrated by default in the GST system under the scheme as follows:

  • Up to Rs 1.5 Cr., who have furnished Form GSTR-1 on quarterly basis in current FY- Qtrly

  • Up to Rs 1.5 Cr., who have furnished Form GSTR-1 on monthly basis in current FY- Monthly

  • More than Rs 1.5 Cr. and up to Rs 5 Cr. in preceding FY-Qtrly

• The option to avail this scheme can be availed GSTIN wise by a taxpayer (if the taxpayer is otherwise eligible for the scheme). Therefore, few GSTINs for same PAN can opt for the Scheme and remaining GSTINs can remain out of the Scheme.

• Taxpayer can login to the GST portal and then navigate to Services > Returns > Opt-in for Quarterly Return option to opt in or opt out of the QRMP scheme.