The Quarterly Return Filing and Monthly Payment of Taxes (QRMP) Scheme under GST was introduced on 1 January 2021 for Taxpayers having an aggregate annual turnover of less than INR 5 Crores. Under this scheme, the notified Taxpayers have an option to file GSTR-3B on a quarterly basis and pay tax every month. Furthermore, Taxpayers … Read morePoints To Remember While Filing GSTR-1 For Jan-Mar 2021 Under QRMP Scheme
The Goods and Services Tax Network (GSTN) introduced e-Invoicing for certain Taxpayers with effect from 01 October 2020 and has been gradually onboarding Taxpayers on the e-Invoicing portal. Currently, e-Invoicing has been enabled for Taxpayers with turnover between INR 50-100 crores. The GSTN has also provided Taxpayers with offline tools for e-Invoicing (including bulk e-Invoicing). … Read moreHow Can You Decide Which Type Of E-Invoicing Integration To Opt For?
A GST invoice evidences the supply/sale of goods and services and is a requisite to avail the eligible Input Tax Credit (ITC), transport goods and generate IRN. However, in different scenarios, different kinds of GST invoices have to be issued/generated. In this article, we will talk about: Which Are The Different Types Of GST Invoices? … Read moreTypes of GST Invoices
Regular GST registered Taxpayers who don’t want to avail ITC facility and who have an aggregate annual domestic PAN-based turnover as per the following limits can opt for the Composition Levy under GST: Up to INR 1.5 Crores (in the previous FY), Up to INR 75 lakhs (in the previous FY) for Taxpayers who are … Read moreHow To Opt-In For Composition Scheme For The Financial Year 2021-22?
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 … Read moreHow To Change The Profile Under The QRMP Scheme?
The Quarterly Return filing & Monthly Payment of Taxes (QRMP) Scheme was launched on 1 January 2021 for GST registered persons having Annual Aggregate Turnover (AATO) less than INR 5 Crores. Under this scheme, eligible Taxpayers can file GSTR-1 and GSTR-3B quarterly and pay tax on a monthly basis. Note: This facility can be availed … Read moreHow To Make Tax Payments Under The QRMP Scheme?
As part of the Central Government’s initiative of introducing e-Invoicing under GST, a separate Portal was set up for all activities related to e-Invoicing. In this article, we will discuss in brief the e-Invoice Portal and other complementing Portals. Which Are The Different e-Invoice Portals And For What Are They Used? Trial e-Invoice Portal – … Read moreeinvoice1-gst.gov.in – First Invoice Registration Portal
The GST network is gearing up to onboard more Taxpayers on the GST e-Invoicing portal – the Invoice Registration Portal (IRP). You can read more about the IRP here. Every eligible Taxpayer has to create a user ID on the IRP to generate e-Invoices. However, it may not be possible for one user to create … Read moreUser Management On IRP For GST E-Invoicing – How To Create & Manage Users On IRP?