QRMP Scheme means quarterly return monthly payment scheme – under such scheme Monthly payment need to be done through PMT-06 and return can be filed Quarterly.
Quarterly Gstr 3b can be filed by the person whose preceding year turnover was below Rs. 5 Crores or if in this year is already crossed Rs. 5 Crore it shall not be eligible.
Person who selected the frequency quarterly may furnish the invoice through invoice furnishing facility before 11th of the month to provide the credit to other person.
This is optional facility only Assessee may submit the bill monthly through invocie furnishing facility only or may submit all bill quarterly in GSTR 1.
As we earlier mentioned payment need to be done only monthly and same can be discharged by any one method:-
Self assesseement Method:- This method is the same as we follows with the introdcution of GST, under this we have to calculate our monthly sales tax by way of availing purchase ITC and deposit the same in PMT-06 before 25th of next month.
Fixed Sum method:-
Fixed Sum Method (FSM):
The taxpayer must pay an amount of tax mentioned in a pre-filled challan in the form GST PMT-06 for an amount equal to 35% of the tax paid in cash.
|S No||Type of Taxpayer||Tax to be paid|
|1||Who furnished GSTR-3B quarterly for the last quarter||35% of tax paid in cash in the preceding quarter|
|2||Who furnished GSTR-3B monthly during the last quarter||100% of tax paid in cash in the last month of the immediately preceding quarter|
Example for understanding FSM:
Scenario 1: If GSTR-3B for January 2021 to March 2021 was filed on a quarterly basis
|Tax paid in cash during Jan’21 – Mar’21 quarter||Tax required to be paid in each of Apr’21 and May’21|
Scenario 2: If GSTR-3 was filed on a monthly basis during the quarter of January 2021 to March 2021
|Tax paid in cash during Mar’21||Tax required to be paid in each of Apr’21 and May’21|
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