Salient features of Quarterly Return filing & Monthly Payment of Taxes (QRMP) Scheme
Salient features of Quarterly Return filing & Monthly Payment of Taxes (QRMP) Scheme Salient features of Quarterly Return filing & Monthly Payment of Taxes (QRMP) Scheme 20/11/2020 1. Who can opt for the scheme : Following registered person (hereinafter RP) can file quarterly returns and pay tax on a monthly basis w.e.f. 01.01.2021 : An RP who is required to file Form GSTR 3B with AATO of up to Rs 5 Cr. in the previous financial year is eligible. If AATO crosses Rs 5 Cr. during a qtr., RP will become ineligible for the Scheme from next quarter. Any person obtaining a new registration or opting out of Composition Scheme can also opt for this Scheme. The option to avail this Scheme can be availed GSTIN wise. Therefore, few GSTINs for that PAN can opt for the Scheme and remaining GSTINs can remain out of the Scheme. 2. Changes on the GST Portal: For qtr. Jan. 2021 to March 2021, all RPs whose AATO for the FY 2019-20 is up to Rs 5 Cr. and have furnished the return in Form GSTR