Quarterly GST Return Monthly GST Payment Scheme

• January 7, 2021
• CA Chandan Agarwal's Office

Quarterly Return filing & Monthly Payment of Taxes (QRMP) scheme is been launched by Government for small taxpayers under GST system. In thie article we will discuss the Applicability of this Scheme, Salient Features of QRMP scheme, What Registered Person means for this Scheme, When to Register or Opt for this Scheme, When to file Return under QRMP scheme, When to Pay Taxes under QRMP scheme, Late Fees, Interest under QRMP scheme etc.

Applicability:-

Salient Features:-

• Aggregate Turnover <= 5 Crores during preceding Financial Year[1]
• Tax payers who are automatically migrated into QRMP scheme can opt out between 5^th December, 2020 to 31^st January, 2021.
• QRMP Scheme is GSTIN wise and not PAN Wise.

Read more on: https://taxguru.in/goods-and-service-tax/quarterly-gst-return-monthly-gst-payment-scheme.html