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 who have opted for the QRMP scheme can use the Invoice Furnishing Facility to upload their invoices every month.
However, the IFF can be used only for the first two months of a quarter. The invoices relevant to the last month of the quarter have to be uploaded in the GSTR-1 itself. The due date to file the GSTR-1 under the QRMP scheme is the 13th day of the month following the relevant quarter. For example, for the quarter – January to March 2021, Taxpayers who have opted for the QRMP scheme have to file the GSTR-1 by 13 April 2021.
In this article, we will list down the points you should consider while filing this GSTR-1:
- If a Taxpayer fails to file details saved in the IFF (for the first 2 months of the quarter), the same cannot be filed after the due date (13th of the month succeeding the IFF period). In this case, Taxpayers can declare such documents in the GSTR-1 of that quarter.
- Taxpayers are required to delete any saved but not filed/submitted IFF records of the first two months of the quarter (month of Jan-2021 or Feb-2021) by using the RESET button before filing the GSTR-1 for the quarter. These deleted records should be added in the GSTR-1.
- For this quarter, the Government has clarified that if there are any submitted but not filed IFF records (for the month of Jan-2021 or Feb-2021), Taxpayers must file the same before filing the GSTR-1 for the Jan-Mar-2021 quarter.