GST – qtly rtn filing & monthly pmt of taxes

Update from GST portal dated 20th November, 2020

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 monthly basis w.e.f. 01.01.2021 :
  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-3B for the month of October, 2020 by 30th 2020, will be migrated by default in the GST system as follows:
  3. When can a person opt for the scheme:
  4. The RPs opting for the scheme can avail the facility of Invoice Furnishing Facility (IFF), so that the outward supplies to registered person is reflected in their Form GSTR 2A & 2B.
  5. Payment of tax under the scheme:

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