GST Due Dates for QRMP & Non-QRMP Schemes with Late Fees

The Quarterly Return Filing and Monthly Payment of Taxes (QRMP) policy originated through the Central Board of Indirect Taxes & Customs (CBIC) dated 1st Jan 2021 to assist the small assessee in diminishing their burden under rules. The article covers the process of tax payment to be furnished for the initial 2 months of the quarter through these assessees furnishing quarterly GSTR-1 & GSTR-3B come under the Non-QRMP policy.

GST Last Date Insidee QRMP Scheme

Businesses that choose to opt for the QRMP scheme must provide that they file their returns by either the 22nd or 24th of the month that follows the quarter. Additionally, it is important to note that tax payments must be made every month via PMT-06, with the payment filing deadline on the 25th of the following month for the first two months of the quarter. However, verifying this information from the GSTN portal or consulting a tax professional.

GST Invoice Furnishing Facility (IFF)

The invoice furnishing facility(IFF) permits the small assesses to upload their invoices every month. An enrolled individual is required to give the details on who is opting for the scheme of the outward supply for Form GSTR-1 quarterly under rule 59 of the CGST Act. The person possesses the choice to furnish the details of the outward supplies via invoice furnishing facility(IFF) to the registered individual for dual 1st and 2nd months of the quarter. He may acknowledge it as important from the first day of the subsequent month till the 13th day of the upcoming month.

IFF shall not be furnished after the last date (13th of the subsequent month) and invoices be reported in the following IFF/GSTR-1 as per the case. IFF shall not be furnished after the last date so there is no question of the late fee. IFF includes data concerning B2B invoices and B2B credit or debit notes only.

GST Form PMT 06

The assessee is required to furnish tax through Form PMT-06 as dated on 25th of the subsequent month of the 1st and the 2nd quarter the assessee can furnish the monthly tax liability for the fixed sum method (FSM) also popular as the 35% challan system or practice the Assessment Method (SAM).

GST Return 1 (Quarterly)

The last date for GSTR-1 is upon the grounds of your turnover. Businesses whose sales have Rs 5 cr possess an option to furnish the quarterly return beneath the QRMP policy and is due through the 13th of the month next of the same quarter. If the GSTR-1 has been furnished post to the appropriate last date then the invoices reported in GSTR-1 shall be mentioned in the coming month’s GSTR-2B of the counterparty.

GST Return 3B (Quarterly)

GSTR-3B is the self-declared summary GST return furnished quarterly for QRMP policy. It shall be filed on the 22nd or 24th of the month posted to these quarters upon the grounds of the state of the assessee.

It is important that beneath section 50 of the CGST act interest is @ 18 per cent p.a. for the late portion of the tax which is paid by debiting an electronic cash ledger.

GST Last Dates Under Non-QRMP Scheme

GST has a set of due dates for filing returns that depend on the different types of returns and taxpayer’s status. Taxpayers who are not enrolled in the Quarterly Return Monthly Payment scheme have different due dates for filing such as GSTR-1, GSTR-3B, etc. Being aware of these due dates is necessary for taxpayers to avoid any late fees or penalties.

GSTR 1 (Monthly Return)

GSTR-1 is the monthly return that summarises all the sales (outward supplies) of the assessee which is to be furnished through the 11th of the subsequent month.

If the GSTR-1 is furnished post to the specified last date then the invoices reported in GSTR-1 shall be shown in the following month’s GSTR-2B of the counterparty.

GSTR 3B (Monthly Return)

GSTR-3B is the summary return that is to be furnished through all the assessees excluding those enrolled beneath the composition policy every month which is to be furnished by the 20th or the coming month.

Tax Late Fees

50 INR the ​​Late Fee per day subject to INR 500 if Nil outward supplies in GST return 1, INR 500 if Nil Tax Liability in GSTR 3B return INR 2,000 if AATO in leading Financial year up to 1.5 Cr, INR 5,000 if AATO in preceding FY over 1.5 Cr and up to 5 Cr INR 10,000 if AATO in preceding Financial year exceeding 5 Cr.