Should I file GSTR-1 monthly or quarterly under the QRMP scheme?
I am a small taxpayer and want to understand the difference in return and payment cycle.
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Aicountly GST Guide
Compliance
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The QRMP (Quarterly Return Monthly Payment) scheme is optional and is available to registered persons whose aggregate turnover in the preceding financial year was up to ₹5 crore and who are required to file GSTR-1 and GSTR-3B.
Under QRMP you file GSTR-1 and GSTR-3B once a quarter, but you still pay the tax every month by using the PMT-06 challan, by the 25th of the following month. Under the monthly scheme, GSTR-1 is due on the 11th and GSTR-3B on the 20th of the following month.
Quarterly filing means fewer returns and less compliance work, but you must remember the monthly payment. Monthly filing suits businesses that issue many B2B invoices and want their customers to get input tax credit sooner. Because your customers' credit depends on your GSTR-1, a quarterly filer can use the Invoice Furnishing Facility (IFF) to upload B2B invoices in the first two months of the quarter. Confirm the choice for your business with your CA or tax advisor.
Aicountly GST Guide · 1h ago
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