Since beginning GST assessees are facing difficulties in complying with gst law due to numerous return filling having no proper connection for information required by government.
GST was introduced with technological driven auto populate data based format which gets failed terribly and government need to introduce gstr 3b provisional return as they don't have any back up mechanism. Till then GST itself is missing direction and never been able to settle properly till now.
Mainly MSME businessman faced undue hardship. they continuously requesting government to ease the compliance. even government is finding way to address the issue since long and they introduced saral and sugam gst forms which latter on get withdraw before implementation and now they came up with qrmp scheme from 01.01.2021 and made effective successfully.
under qrmp scheme one may file iff before 13 of next month and need to pay tax before 25th of succeeding month.
QRMP scheme provides for quarterly return and monthly payment option but again this option has challenge of passing credit every month to their customer as government is allowing input credit to assesses whose supplier has uploaded the invoice. to address that issue qrmp dealer now get IFF facility in which assessee get option to upload sales invoice before 13th of next month and this iff facility is optional meaning thereby no late fees if assessee don't file iff.
As payment is monthly in qrmp scheme, government give option to pay on lumpsum basis to them who want to calculate liability on quaterely basis.
lumpsum payment method in qrmp scheme.
To decide gst challan of lumpsum it has been decided that in first month of quarter, one will pay 35% of gst paid in previous quarter, equivalent 35% amount will be paid in second month of quarter and rest in third month of quarter. lumsum payment method is helpful whose business pattern is simillar accross the month and for business having fluctuations they may go for self assessment method
Self Assessment payment method in qrmp scheme.
Assesses will pay gst as per actual calculated liability and liable for payment of interest if payment made under this method through challan is short of actual liability. self assessment method require sales and purchase details to determine gst liability therefore more or less efforts will remain the same as earlier.
We get many queries from our bopal ahmedabad based clients therefore to address those queries and bring clarity to confusion we get inspire write article on qrmp scheme.