GST Quaterly Filing

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    GST Quarterly Filing under QRMP

    QRMP (Quarterly Return Monthly Payment) Schemewas introduced to reduce the burden of GST returns on taxpayers. It is an optional scheme for businesses having aggregate turnover up to INR 5 Cr to file GSTR-3B and GSTR-1 on a quarterly basis along with monthly payment of tax.

    The taxpayers who opt for the QRMP scheme can use the Invoice Furnishing Facility (IFF) which allows quarterly GSTR-1 filers to upload their invoices every month.

    The IFF can be utilized only for the first two months of a quarter. The invoices relating to the last month of a quarter are to be uploaded in the GSTR-1 return only. There is no requirement to upload invoices in GSTR-1 if the same has been uploaded in the IFF.

    Who can opt for QRMP scheme?

    • Registered person who is required to file Form GSTR-3B with annual aggregated turnover up to INR 5cr in the preceding FY. Therefore if turnover in the previous year exceeds INR 5cr then you cannot opt for QRMP.
    • Any person obtaining a new GST Registration or opting out of the composition scheme.