From January rather than 12 at now, the businesses whose turnover exceeds Rs 5 cr turnover will have to furnish only GST sales return or GSTR-3B. There shall be 94 lakh assessees to which the policy of Quarterly filing of Return with Monthly Payment (QRMP) 
Know the everything about QRMP (Quarterly Return Filing & Monthly Payment) Scheme under GST. Also, we have included the alternation and payment of tax under QRMP will impact and nearly 92% of the total tax base of the GST.
From January the small assessee will urge to furnish only 8 returns (four GSTR-3B and four GSTR-1 returns) in a year, said the sources. The concern to provide the input tax credit (ITC) is given by the scheme only on the given reported invoices so as to impose a barrier on the bogus invoices 
INR 1 trillion GST has been collected for the very first time in the eight months in October post unlocking from September. Any month GST collection resembles the business received in the previous month. For the small and medium assessee, QRMP policy is an optional specification of invoice furnishing facility IFF to decrease the business concerned difficulties.
In IFF the small assessee who has chosen to be quarterly return filers beneath the QRMP policy will enable to upload and furnish these invoices even in the 1st and 2nd month of the quarter as per the demand of the applicant. This will engage the buyers who had to avoid buying from the small assessee before in context to upload the invoices in the system on the monthly grounds said sources.
As per the sources, the assessee will not require to upload and furnish the invoices for the month and can upload along with filing the invoices which are needed to be furnished in IFF according to the needs of the applicant. The left invoices for the 1st and 2nd months could be uploaded for quarterly GSTR-1 return 
The complete guide for online filing GSTR 1 form in a very easy and step by step manner. We have explained its part 1 to part 13 with the original form screenshots. They said that the IFF will be present to a cut-off date and credit will move to the applicant post to the cut-off date on the furnishing of the IFF.
On Oct 5 the GST department declared that the enrolled individual who has an average turnover of Rs 5 cr might be permitted to file the return on the quarterly grounds within the monthly tax filing w.e.f 1 January 2021. The assessee who has a turnover of Rs 5 cr has the option to furnish the GSTR-1 and GSTR-3B returns on the quality grounds started from the January-March period within the launch of QRMP policy. Assessee can make GST payments 
Check out due dates of payment under GST for general and composition taxpayers in India. We have included penalty charges on late payment with interest via challan every month through self-assessment for the monthly liability or 35% of the net cash liability for furnished GSTR-3B of the quarter previously.
