QRMP Scheme In GST

QRMP scheme in GST 2021

Hello guys have you opted for the QRMP scheme under GST this quarter? If not, then read all the details about the QRMP payment scheme and all the essential details about the Quarterly Return Monthly Payments.

What is QRMP Scheme Under GST?

QRMP scheme or Quarterly Return Monthly Payment Scheme is a new GST scheme which is given by CBIC from the small scale business.
QRMP scheme is a good scheme of GST which gives good benefits for small taxpayers.

In this article, we have a guide about this scheme (QRMP) and the benefits of GST, and its advantages also.

So, the QRMP scheme is the GST scheme that is made up of small businesses that has a total turnover of 5 crores. They have to fill the GST on a quarterly basis, however, the tax payment will remain the same, It will go at the end of the month.

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Eligibility of QRMP Scheme in Case of New Registration

Newly registered taxpayers whose monthly turnover is above 5 crores, can take this QRMP scheme based on the following conditions:-

  • If the registered person is granted in the first month of the Quarter, then they can opt for the QRMP scheme from the beginning itself.
  • If the registered person is granted on the latter two months of the Quarter, then they can opt for the QRMP scheme only from the next quarter onwards.

Manner of Opting QRMP Scheme

  • The facility is to available the scheme on the common portal through which you can access and it is avail for throughout the year [Navigate: Services>Returns>Opt-in For Quarterly Return].
  • A registered person can be opt-in for any quarter from the day first of the second month of the preceding quarter to the last day of the first month of the Quarter.
  • There is no requirement to opt for the scheme for each quarterly separately. Once the scheme is excised. It will be valid for future taxes also.

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