Brief GST QRMP vs. Non-QRMP Analysis


Brief GST QRMP vs. Non-QRMP Analysis

Below is the crisp analysis between Quarterly Return Monthly Payment [QRMP] Scheme and regular GSTR-3B presentation scheme that will help you decide when choosing the QRMP scheme in b / no without QRMP.

QRMP vs. non-QRMP
Scheme QRMP No QRMP
Month Special Expiration date Special Expiration date
M1 Invoice Supply Facility (IFF) – Optional 13 next month GSTR-1 (monthly) – Late payment fee applies if submitted after due date 11 next month
GST Form PMT-06 Challan Payment 25 of next month GSTR-3B (monthly) 20 of next month
Applicable interest if paid after due date Late fees and interest apply if filed after due date
(Select Reson as Monthly Payment for Quarterly Return and Month M1) (Select Reson like any other payment in Payment Challan GST PMT-06)
M2 Invoice Supply Facility (IFF) 13 next month GSTR-1 (monthly) 11 next month
It’s optional Late payment fee applies if submitted after due date
GST Form PMT-06 Challan Payment 25 of next month GSTR-3B (monthly) 20 of next month
Applicable interest if paid after due date Late fees and interest apply if filed after due date
(Select Reson as Monthly Payment for Quarterly Return and Month M2) (Select Reson like any other payment in Payment Challan GST PMT-06)
M3 Invoice Supply Facility (IFF) 13 next month GSTR-1 (monthly) 11 next month
It’s optional Late payment fee applies if submitted after due date
GSTR-3B (monthly) 22 or 24 of the next month GSTR-3B (monthly) 20 of next month
Late fees and interest apply if filed after due date Late fees and interest apply if filed after due date
(Select Reson like any other payment in Payment Challan GST PMT-06) (Select Reson like any other payment in Payment Challan GST PMT-06)

Brief GST QRMP vs. Non-QRMP Analysis

Grades:

  • IFFs for M1 or M2 cannot be submitted after the due date (13 of the following month) and invoices will be reported in the next IFF / GSTR-1, as the case may be.
  • Currently, the GSTN portal does not charge any fees for late submission of GSTR-1, but it is clearly prescribed by law.
  • In accordance with Section 50 of the CGST Act, the interest is @ 18% per annum for the period of delay on the part of the tax that is paid by debit to the electronic cash ledger.
  • IFF Contains data related to B2B invoices and B2B credit / debit notes only
  • The late fee is Rs 50. Per day subject to
    • Rs 500 if no external supplies in GSTR 1
    • Rs 500 if the tax liability is nil in GSTR 3B
    • Rs 2,000 if AATO in previous fiscal year up to 1.5 Cr
    • 5,000 rupees if AATO in the previous fiscal year above 1.5 Cr and up to 5 Cr
    • 10,000 rupees if AATO in the previous fiscal year above 5 Cr
  • Also note that:
    • M1 means first month of the quarter
    • M2 means second month of the quarter
    • M3 means third month of the quarter
  • If GSTR-1 is submitted after the specified due date, the invoices reported in that GSTR-1 will be reflected in the GSTR-2B of the next month of the counterparty.





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