The CBIC has introduced the QRMP Scheme. The QRMP scheme changes are now implemented on the GST Portal for the taxpayers. The QRMP scheme primarily focuses on helping taxpayers having a turnover of less than Rs. 5 Crores. Therefore, it is an important update for MSMEs. In this article, we will look at QRMP Scheme Changes implemented on the GST Portal for the taxpayers.
QRMP Scheme Changes implemented on GST Portal for the taxpayers
QRMP or Quarterly Return filing and Monthly Payment scheme is a scheme by the government for GST Taxation. The scheme allows taxpayers to file GSTR-3B on a quarterly basis and pay tax monthly.
Consequently, it will reduce the tax burden on taxpayers and they will be able to pay it easily. The scheme especially focuses on enterprises having a turnover of less than Rs. 5 Crores. The new important QRMP Scheme changes are explained as follows.
Auto population of GSTR-3B liability from IFF and Form GSTR 1
The newest and major update includes auto-population of GSTR-3B, It allows taxpayers to the Auto population of GSTR-3B liability from IFF and Forms GSTR 1 under QRMP Scheme. Moreover, the Declaration of liability in these forms would now be auto-populated in their Form GSTR-3B (Quarterly) for that quarter. However, it would be auto-populated on the basis of IFF and Form GSTR-1.
QRMP Scheme Changes Impact of cancellation of Registration on liability to file Form GSTR-1
In case registration of a taxpayer under QRMP Scheme is canceled, with an effective date of cancellation being any date after 1st day of Month 1 of a quarter, they would be required to file Form GSTR-1 for the complete quarter, as the last applicable return.
Let’s understand this through example. If the taxpayer’s registration is canceled w.e.f. 1st of April, it is not mandatory to file Form GSTR-1 for the Apr-June quarter, and Form GSTR-1 for Jan-Mar Quarter shall become the last applicable return.
On the other hand, if the registration gets cancellation on a later date during the quarter, the taxpayer has to file Form GSTR-1 for the Apr-June quarter. In such cases the filing will become open on the 1st of the month following the month with cancellation date i.e. if the cancellation has taken place on 20th May, Form GSTR-1 for Quarter Apr-June can be filed anytime on or after 1st of June.
Nil filing of Form GSTR-1 (Quarterly) through SMS under QRMP Scheme
The QRMP Scheme now allows Nil Filing of form GSTR-1 through SMS. The taxpayer has to send a message on 14409 for filing GSTR-1. However, these services are not applicable in the following cases.
- If IFF for Month 1 or 2 of a quarter is in the Submission stage, but not filed.
- If invoices are Saved in IFF for Month 1 or 2 of a quarter, which was not submitted or filed by the due date.
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