GST QRMP vs Non-QRMP Brief Analysis

GST QRMP vs Non-QRMP Brief Analysis

Below is the crisp analysis between Quarterly Return Monthly Payment [QRMP] Scheme and Regular GSTR-3B Filing Scheme which will help you in deciding while choosing b/w QRMP or Non-QRMP Scheme.

QRMP vs Non-QRMP
Scheme	QRMP		Non-QRMP
Month	Particular	Due Date	Particular	Due Date
M1	Invoice Furnishing Facility (IFF)- Optional	13th of Next Month	GSTR-1 (Monthly)- Late Fee applicable if Filed after Due Date	11th of Next Month
	Form GST PMT-06 Payment Challan	25th of Next Month	GSTR-3B (Monthly)	20th of Next Month
	Interest applicable if Paid after Due Date		Late Fee & Interest applicable if Filed after Due Date
	(Select Reson as Monthly payment for quarterly return & Month M1)		(Select Reson as Any other payment in Payment Challan GST PMT-06)
M2	Invoice Furnishing Facility (IFF)	13th of Next Month	GSTR-1 (Monthly)	11th of Next Month
	It is optional		Late Fee applicable if Filed after Due Date
	Form GST PMT-06 Payment Challan	25th of Next Month	GSTR-3B (Monthly)	20th of Next Month
	Interest applicable if Paid after Due Date		Late Fee & Interest applicable if Filed after Due Date
	(Select Reson as Monthly payment for quarterly return & Month M2)		(Select Reson as Any other payment in Payment Challan GST PMT-06)
M3	Invoice Furnishing Facility (IFF)	13th of Next Month	GSTR-1 (Monthly)	11th of Next Month
	It is optional		Late Fee applicable if Filed after Due Date
	GSTR-3B (Monthly)	22nd or 24th of Next Month	GSTR-3B (Monthly)	20th of Next Month
	Late Fee & Interest applicable if Filed after Due Date		Late Fee & Interest applicable if Filed after Due Date
	(Select Reson as Any other payment in Payment Challan GST PMT-06)		(Select Reson as Any other payment in Payment Challan GST PMT-06)

GST QRMP vs Non-QRMP Brief Analysis

Notes:

• IFF for M1 or M2 can not be filed after Due Date (13th of Next Month) and that invoices to be reported in Next IFF/GSTR-1 as the case may be
• Currently GSTN Portal is not charging any Late fee for Delay in Filing of GSTR-1 but it is clearly prescribed in the law
• As per Section 50 of the CGST Act interest is @ 18 % p.a. for the period of delay on that portion of tax which is paid by debiting electronic cash ledger.
• IFF Contain data related to B2B Invoices and B2B Credit/Debit Notes only
• The late Fee is 50 Rs. Per Day Subject to
  • Rs.500 if Nil Outward Supplies in GSTR 1
  • Rs.500 if Nil Tax Liability in GSTR 3B
  • Rs.2,000 if AATO in preceding FY up to 1.5 Cr
  • Rs.5,000 if AATO in preceding FY above 1.5 Cr and up to 5 Cr
  • Rs.10,000 if AATO in preceding FY above 5 Cr
• Please also note that:
  • M1 means 1st Month of Quarter
  • M2 means 2nd Month of Quarter
  • M3 means 3rd Month of Quarter
• If GSTR-1 is filed after specified due date then invoices reported in that GSTR-1 will be reflected in Next Month’s GSTR-2B of Counter party

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