The Quarterly Return Monthly Payment (QRMP) scheme is a significant GST compliance initiative designed to ease the burden of frequent return filings for small businesses and taxpayers in India. Understanding how the QRMP scheme works, its eligibility criteria, and its benefits is essential for small taxpayers looking to streamline their GST compliance process.
Understanding the QRMP Scheme for Small Taxpayers, Get Practical GST Course in Delhi, 110008, by SLA Consultants India, New Delhi,
What is the QRMP Scheme?
The QRMP scheme allows eligible taxpayers to file their GSTR-1 (outward supplies) and GSTR-3B (summary return) on a quarterly basis instead of monthly, while still making monthly tax payments. This scheme is especially beneficial for small businesses and startups, as it reduces the frequency of return filings and allows them to focus more on core business activities.
Eligibility for the QRMP SchemeAggregate Turnover: Taxpayers with an aggregate annual turnover (PAN-based) of up to ₹5 crore in the preceding financial year are eligible for the QRMP scheme. GST Certification in Delhi
Compliance Status: Taxpayers must have filed their last due GSTR-3B return before opting for or being assigned to the QRMP scheme.
Quarterly GSTR-1 Filers: Those who have furnished GSTR-1 on a quarterly basis in the current financial year are typically deemed to have opted for quarterly GSTR-3B filing under the QRMP scheme.
Understanding the QRMP Scheme for Small Taxpayers, Get Practical GST Course in Delhi, 110008, by SLA Consultants India, New Delhi,
Key Features and BenefitsQuarterly Returns: File GSTR-1 and GSTR-3B once every quarter instead of every month.
Monthly Tax Payment: Pay tax dues each month using Form GST PMT-06 by the 25th of the following month. Tax can be paid using the Fixed Sum Method (FSM, also known as the 35% challan method) or the Self-Assessment Method (SAM).
Invoice Furnishing Facility (IFF): Quarterly GSTR-1 filers can upload B2B invoices every month using IFF, enabling their recipients to claim Input Tax Credit (ITC) on a timely basis.
Flexibility: Taxpayers can choose to opt in or out of the QRMP scheme every quarter, providing flexibility based on their business needs.
Reduced Compliance Burden: The scheme significantly reduces the administrative workload for small taxpayers, making GST compliance more manageable.
Important Due DatesGSTR-1 (Quarterly): 13th of the month following the quarter for most taxpayers.
GSTR-3B (Quarterly): 22nd or 24th of the month following the quarter, depending on the state or union territory (Category X or Y).
Monthly Tax Payment: 25th of the following month.
Practical GST Course in Delhi by SLA Consultants India
SLA Consultants India, located in New Delhi (110008), offers a practical GST course that covers all aspects of GST return filing, including the QRMP scheme. The course provides hands-on training, real-world case studies, and step-by-step guidance, helping small taxpayers and business owners understand and manage their GST compliance with confidence.
By enrolling in this course, you will gain the knowledge and skills needed to leverage the QRMP scheme, ensure timely and accurate GST filings, and focus more on growing your business.
SLA Consultants Understanding the QRMP Scheme for Small Taxpayers, Get Practical GST Course in Delhi, 110008, by SLA Consultants India, New Delhi, details with New Year Offer 2025 are available at the link below:
https://www.slaconsultantsindia.com/certification-course-gst-training-institute.aspx
https://slaconsultantsdelhi.in/gst-course-training-institute/
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