The Quarterly Return Monthly Payment (QRMP) scheme lets registered persons with aggregate turnover up to Rs.5 crore file GSTR-1 and GSTR-3B quarterly while paying tax monthly through Form PMT-06. Monthly tax can be paid by a fixed-sum method or by self-assessment, and the optional IFF lets B2B invoices be reported monthly.
Who can opt and how
Taxpayers with aggregate annual turnover up to Rs.5 crore in the preceding year can opt for QRMP, GSTIN-wise. The option is exercised quarterly and continues until changed. It reduces return-filing frequency from monthly to quarterly while keeping tax payments monthly.
Monthly tax payment: two methods
| Method | How the monthly tax is computed |
|---|---|
| Fixed-sum (35%) method | 35% of the cash paid in the previous quarter (or 100% of the last month of the previous quarter), pre-filled in PMT-06 |
| Self-assessment method | Actual tax on supplies less ITC for the month, paid in PMT-06 |
Tax for the first two months of the quarter is paid via PMT-06 by the 25th of the following month; the quarter's net liability is settled in the quarterly GSTR-3B.
The Invoice Furnishing Facility (IFF)
Under QRMP, B2B sales invoices can be uploaded monthly through the IFF (up to Rs.50 lakh per month) so that customers get their ITC in GSTR-2B without waiting for the quarterly GSTR-1. The remaining invoices go in the quarterly GSTR-1.
Should you opt for QRMP?
- Pro: fewer returns, simpler compliance for small businesses.
- Con: the fixed-sum method can over- or under-pay; reconcile each quarter.
- Use IFF if your B2B customers need timely ITC.
- Due dates for quarterly GSTR-3B (22nd/24th) depend on the State. your State's date.
Key takeaways
- QRMP: turnover up to Rs.5 crore; quarterly returns, monthly tax.
- Pay monthly via PMT-06 (fixed-sum 35% or self-assessment) by the 25th.
- IFF reports B2B invoices monthly so customers get timely ITC.
- Reconcile each quarter; fixed-sum can over/under-pay.