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Understanding the QRMP Scheme for Small Taxpayers
The Quarterly Return Filing and Monthly Payment of Taxes (QRMP) scheme is a significant GST compliance initiative designed to ease the burden on small taxpayers. Here’s a comprehensive overview tailored for businesses and professionals in Delhi, 110078, and those considering practical GST training with SLA Consultants India.
What is the QRMP Scheme?
The QRMP scheme allows eligible GST-registered taxpayers to:
File GSTR-1 and GSTR-3B returns quarterly (instead of monthly)
Pay tax dues monthly via a simple challan system
This scheme was introduced to streamline compliance, reduce paperwork, and enhance cash flow management for small businesses.
Eligibility Criteria
Turnover Limit: Aggregate annual turnover (PAN-based) up to ₹5 crore in the preceding and current financial year. GST Course in Delhi
Return Compliance: Must have filed the last due GSTR-3B return to be eligible.
Exceeding Turnover: If turnover exceeds ₹5 crore during any quarter, the taxpayer becomes ineligible from the next quarter.
Optional Scheme: Taxpayers can opt in or out each quarter, and even select QRMP for some GSTINs while keeping monthly filing for others.
How Does the QRMP Scheme Work?
Quarterly Return Filing:
GSTR-1 (Outward Supplies): Filed quarterly, summarizing all sales for the quarter.
GSTR-3B (Summary Return): Filed quarterly, summarizing sales, purchases, and tax liabilities.
Due Dates: GSTR-1 is due by the 13th of the month after the quarter; GSTR-3B is due by the 22nd or 24th (depending on state category).
Monthly Tax Payment:
Taxes must be paid each month using Form GST PMT-06, by the 25th of the following month for the first two months of the quarter.
Payment can be made either by the “fixed sum method” (35% of last quarter’s cash tax paid) or the “self-assessment method” (actual tax due).
Invoice Furnishing Facility (IFF):
Allows QRMP taxpayers to upload B2B invoices monthly, so recipients can claim ITC without waiting for the quarterly GSTR-1.
IFF is optional and available for the first two months of the quarter.
Benefits of the QRMP Scheme
Reduced Compliance Burden: Quarterly returns mean less frequent filings for small businesses.
Improved Cash Flow: Monthly payments spread out tax liability, aiding cash management.
Flexibility: Taxpayers can opt in or out each quarter and use IFF for timely ITC flow.
Simplified Process: Less paperwork and administrative effort compared to monthly filing.
Get Practical GST Course in Delhi, 110078, by SLA Consultants India
SLA Consultants India offers a practical, industry-oriented GST course in Delhi (serving 110078), ideal for small business owners, accountants, and finance professionals.
Course Highlights:
In-depth coverage of the QRMP scheme, GSTR-1, GSTR-3B, IFF, and monthly payments
Real-world assignments and GST software training
Expert faculty with industry experience
Flexible classroom and online batches
100% job placement support
Summary:
The QRMP scheme simplifies GST compliance for small taxpayers by enabling quarterly return filing and monthly tax payments. SLA Consultants India’s practical GST course equips you with the skills to leverage QRMP and ensure error-free GST compliance in Delhi.
SLA Consultants Understanding the QRMP Scheme for Small Taxpayers, Get Practical GST Course in Delhi, 110078, 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/
E-Accounts, E-Taxation and (Goods and Services Tax) GST Training Courses
Module 1 - GST- Goods and Services Tax- By Chartered Accountant- (Indirect Tax)
Module 2 - Income Tax/TDS - By Chartered Accountant (Direct Tax)
Module 3 - Finalization of Balance sheet/ preparation of Financial Statement- By Chartered Accountant
Module 4 - Banking and Finance Instruments - By Chartered Accountant
Module 5 - Customs / Import and Export Procedures - By Chartered Accountant
Contact Us:
SLA Consultants India
82-83, 3rd Floor, Vijay Block,
Above Titan Eye Shop,
Metro Pillar No. 52,
Laxmi Nagar, New Delhi,110092
Call +91- 8700575874
E-Mail: hr@slaconsultantsindia.com
Website: https://www.slaconsultantsindia.com/
