Quarterly Return, Monthly Payment of Taxes (QRMP) Scheme is the Government’s initiative to simplify GST compliance for small Taxpayers. Under this scheme, Taxpayers having an aggregate turnover at PAN level up to INR 5 crore can opt for filing GSTR-1 and GSTR-3B quarterly. In addition to this, tax payments can be made in the first two months of the quarter through a simple challan in FORM GST PMT-06.
Note: The GST system has assigned the quarterly frequency to small Taxpayers automatically. However, Taxpayers can change or select the filing frequency of Form GSTR-1 and Form GSTR-3B through their GST dashboard. This article will illustrate the steps to be taken to change the profile under the QRMP Scheme.
Step 1: Log in to the GST Portal with valid credentials.
Step 2: Under ‘Services’, select ‘Returns’ and then ‘Opt-in for Quarterly Return’.
Step 3: In the Opt-in for Quarterly Return page, from the Financial Year drop-down list, select the year for which you want to change the filing frequency and click the ‘SEARCH’ button.
Step 4: On clicking the ‘SEARCH’ button. The following details are displayed:
Step 5: Once the frequency is selected, and you have clicked on the ‘SAVE’ button, a confirmation message is displayed on the screen. Click on ‘OK’. When ‘Quarterly’ filing is selected:
When ‘Monthly’ filing is selected:
Step 6: A success message is displayed, confirming the successful change of profile to the selected filing frequency. Click on ‘OK’.
Once this is done, the ‘Opt-in for Quarterly Return page’ is displayed. Here, the filing frequency would be frozen, and the ‘SAVE’ button will be disabled. Note: Once the Taxpayer opts in or opts out of the QRMP scheme, an Email and SMS is sent to the Primary Authorized Signatory of the Taxpayer.
Step 7: Click on ‘CONTINUE TO RETURNS DASHBOARD’ to go to the returns page.