From January onwards, small taxpayers have two options
1) File GSTR 1 & 3B Quarterly (With Monthly Tax Payment)
2) File GSTR 1 & 3B Monthly
Don't we have earlier option to file GSTR 1 Quarterly & GSTR 3B Monthly??????
11 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 24 January 2021
Yes you can opt for qrmp scheme if your turnover is upto 5 crores rupees by opting for monthly or quarterly payments but dept. in the portal previously selected the type of payment on its own if you want to change the type you can but they will show warning pop-up in the portal
Hardik Hindocha
(93 Points)
Replied 24 January 2021
Don't we have earlier option to file GSTR 1 Quarterly & GSTR 3B Monthly??????
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 24 January 2021
No it's not earlier available only monthly payment was available earlier , only composition dealer can pay quarterly earlier
Hardik Hindocha
(93 Points)
Replied 24 January 2021
Sourav, those having turnover below 5cr. had an option to file GSTR 1 Quarterly + GSTR 3B Monthly... I'm talking about that option...
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 24 January 2021
No such option is there either Go for Quarterly Filing with monthly payment or monthly filing of GSTR-1 & GSTR-3B
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 24 January 2021
Yes you can choose such option by opting either fixed amount method or self assessment method of paying tax
Divyam Agarwal
(Practicing Chartered Accountant)
(959 Points)
Replied 26 January 2021
No such option available as was available earlier before QRMP.
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 26 January 2021
In term of Rule 59(3) the taxpayer opted QRMP scheme can furnish the outward supply using IFF (Invoice Furnishing facility) for the first & second months of Qtr. , shall not required to in form GSTR 1 for the Qtr.
So you can furnish monthly outward supply which automatically reflected in your GSTR 1 which is going to be filed Qtly.
So you can furnish monthly outward supply which automatically reflected in your GSTR 1 which is going to be filed Qtly.
Hardik Hindocha
(93 Points)
Replied 26 January 2021
Irrespective of whether we choose Monthly or Quarterly returns, we will be complying with the law on monthly basis.. People will be paying their tax dues every month in some or the other way, and IFF is optional from government's viewpoint but we will make our suppliers/our customers will make us upload the bills regularly because of ITC restrictions & GSTR-2B
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 27 January 2021
Completely agree with you on this Hardik
Abhay Gajera
(23 Points)
Replied 28 January 2021
Quarterly case : only for B2B sales details in monthly GSTR-1 and B2C sales details in quarterly GSTR-1 and 35 ℅ tax pay in monthly and GSTR-3b quarterly filed.
Monthly case : fully sales details in monthly GSTR-1 and GSTR-3b monthly filed and tax pay monthly
Monthly case : fully sales details in monthly GSTR-1 and GSTR-3b monthly filed and tax pay monthly
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