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Mar 11, 2024 · The Central Board of Indirect Taxes & Customs introduced Quarterly Return Filing and Monthly Payment of Taxes (QRMP) scheme under Goods and Services Tax to help small taxpayers whose turnover is less than Rs.5 crores. The QRMP scheme allows the taxpayers to file GSTR-3B on a quarterly basis and pay tax every month.
Jun 22, 2021 · The Central Board of Indirect Taxes & Customs (CBIC) introduced Quarterly Return Filing and Monthly Payment of Taxes (QRMP) scheme under Goods and Services Tax (GST) to help small taxpayers whose turnover is less than Rs.5 crores. The QRMP scheme allows the taxpayers to file GSTR-3B on a quarterly basis and pay tax every month.
May 30, 2024 · Quarterly Return and Monthly Payment of Taxes (QRMP) Scheme allows eligible taxpayers, those with a turnover up to ₹5 crore in the previous year, to file their GST returns (GSTR-1 and GSTR-3B) on a quarterly basis instead of monthly.
Dec 16, 2020 · QRMP or Quarterly Return Monthly Payment Scheme is an optional scheme that CBIC has rolled out for small scale businesses having aggregate turnover up to 5 crore rupees to furnish return on a quarterly basis along with monthly payment of tax.
Feb 29, 2024 · The QRMP Scheme is the option given under the GST Act to small tax payers by The Central Board of Indirect Taxes and Customs (CBIC) to reduce the burden of compliance. This initiative is taken as part of the ease of doing business.
What is “Quarterly Returns with Monthly Payment (QRMP)” Scheme? QRMP scheme is for small taxpayers to file their FORM GSTR-1 and FORM GSTR-3B returns on quarterly basis while paying their tax dues monthly through a simple challan.
QRMP Scheme introduced by CBIC helps small taxpayers reduce compliance burden by enabling quarterly GSTR-3B filing while paying taxes monthly. Updates on scheme rules and due dates are discussed, along with methods of tax payment and interest implications.
Quarterly Returns with Monthly Payment (QRMP) Scheme is for eligible taxpayers to file their Form GSTR-1 and Form GSTR-3B returns on quarterly basis, while paying their tax dues on monthly basis through a challan. 2. Who all are eligible for the QRMP scheme?
Feb 10, 2021 · What is QRMP scheme? To reduce the compliance burden and facilitate ease of doing the business, the GST Council in its 42nd meeting held on 05.10.2020, had recommended a ‘Quarterly Return Monthly Payment Scheme’ which is referred as ‘QRMP Scheme’.
In terms of notification No. 84/2020- Central Tax, dated 10.11.2020, a registered person who is required to furnish a return in FORM GSTR-3B, and who has an aggregate turnover of up to 5 crore rupees in the preceding financial year, is eligible for the QRMP Scheme.