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GSTN advisory on Filing GSTR-1 (Q) for Jan-Mar 2021 under QRMP Scheme

For helping the small business and making GST compliances more easier, new return scheme has been introduced. This new scheme is called as QRMP (Quarterly Return, Monthly Payment). It is quite evident from the name itself, that taxpayer has to file return quarterly and pay taxes monthly. GSTN has issued an advisory on it, which is as follows- 

 

The taxpayers under QRMP scheme have a facility to file Invoice Furnishing Facility (IFF) in first two months of the quarter and file Form GSTR-1 in third month of the quarter. As IFF is an optional facility it cannot be filed after the end date (13th of the month succeeding the IFF period). The document saved in IFF, where taxpayer has not filed by the end date, cannot be filed anymore. Hence taxpayers are requested to declare such document in the GSTR-1 for the quarter. Hence, before filing of GSTR-1 for Jan-Mar-2021 quarter, the taxpayer must ensure that:

1.     Any saved but not Filed/Submitted IFF records for the first two months of the quarter i.e. month of Jan-2021 or Feb-2021 must be deleted using RESET button before filing GSTR-1 for Jan-Mar-2021 quarter. The deleted records should be added in GSTR-1 for Jan-Mar-2021 quarter after deleting the saved records from IFF. In future this may not be required as invoices already saved in any of the months on the quarter may be either deleted/moved to quarterly GSTR-1 by a functionality to be introduced shortly.

2.   Any submitted but not filed IFF for the month of Jan-2021 or Feb-2021 must be filed before filing GSTR-1 for Jan-Mar-2021 quarter.


Read More: Quarterly Return Monthly Payment (QRMP) under GST- Question and Answer



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