Understanding the QRMP Scheme for Small Taxpayers
The Quarterly Return Monthly Payment (QRMP) Scheme is a taxpayer-friendly initiative under GST, designed to simplify compliance for small businesses. It allows eligible taxpayers to file GSTR-1 and GSTR-3B quarterly while making monthly tax payments.
Eligibility for the QRMP Scheme
- Taxpayers with an aggregate turnover of up to ₹5 crores in the previous financial year.
- Must be registered as a regular taxpayer under GST.
- Can opt-in or opt-out of the scheme at the beginning of each quarter.
Key Features of QRMP
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Quarterly Return Filing:
- GSTR-1 and GSTR-3B are filed quarterly instead of monthly, reducing compliance burden.
- Invoices uploaded in the Invoice Furnishing Facility (IFF) enable seamless ITC claims for buyers.
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Monthly Tax Payment via PMT-06:
- Taxpayers must deposit tax monthly using Form PMT-06.
- Two payment methods:
- Fixed Sum Method (FSM): Pre-filled challan based on previous tax liability.
- Self-Assessment Method (SAM): Pay based on actual sales and ITC for the month.
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Late Fees and Interest:
- Interest applies if tax payment is delayed.
- Late fees apply only for delayed quarterly return filings.
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Easier Compliance for MSMEs:
- Reduces the compliance workload for small businesses.
- Ensures better cash flow management with monthly tax deposits.
Benefits of the QRMP Scheme
- Reduces filing frequency from 24 returns (12 GSTR-1 + 12 GSTR-3B) to just 8 returns per year.
- Allows small businesses to manage tax payments efficiently without impacting working capital.
- Helps taxpayers comply with GST while reducing late fees and interest liabilities.
Learn Practical GST Compliance with SLA Consultants India
To understand GST, QRMP scheme, and tax compliance in-depth, SLA Consultants India, New Delhi, offers a practical GST Course in Delhi. The training covers:
✅ GSTR-1, GSTR-3B, GSTR-9, QRMP, ITC Reconciliation
✅ E-way Bill, Reverse Charge Mechanism (RCM), GST Computation
✅ Hands-on Training on Tally, Excel & GST Portals
Join SLA Consultants India to become GST-compliant and industry-ready. Enroll now and advance your career in taxation!
For course details, visit SLA Consultants India.
SLA Consultants Understanding the QRMP Scheme for Small Taxpayers, Get Practical GST Course 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/
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 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: [email protected]
Website: https://www.slaconsultantsindia.com/
