QRMP’s full form is “Quarterly Returns with Monthly Payment”. As this name is indicating it’s a scheme newly introduced under GST filing, where taxpayers can file their GSTR 1 and GSTR 3B both returns quarterly instead of monthly.

Who can opt for QRMP scheme?

All taxpayers whose aggregate turnover is up to Rs. 5 Crore in the current and preceding financial year are eligible for this scheme.

How to opt for QRMP scheme?

Self-opt option is not available now for this quarter (JAN 2021 – MAR 2021). Self-opt option was valid till date 31st Jan 2021. If you did not choose the scheme before the due date then GST portal will put you in any scheme based on your previous returns.

You can follow these STEPS for OPT IN – OPT OUT:-

Step 1 . Login to GST portal

Step 2. Go to “Services” => now select “Returns” => Select “Opt-in for Quarterly Return”

Can I opt in or opt out from the scheme in future?

Yes, you can opt in and opt out if you don’t want to continue your quarterly filing. But, once you opt for the quarterly return (QRMP scheme) you cannot opt out from the scheme for that quarter period.

You can opt in or opt out from the scheme as follows:-

Do I need to enter the scheme every quarter to avail its benefit?

No, once opted in, the scheme will continue for you, unless you decide to exit or opt out.

How to file GST returns under “QRMP” scheme?

Under this scheme you have to file GSTR 1 and GSTR 3B quarterly but you have to pay the tax liabilities by 25th of every next month using “GST PMT 06” Challan for the first and second months of the quarter.  For example, for the month of January challan has to be generated by 25th of February.

There are two ways to make the monthly tax payments through “GST PMT 06” Challan, Fixed Sum Method (FSM) or Self Assessment Method (SAM).

1. Fixed Sum Method (FSM):-

Here you can simply deposit 35% of net cash paid by you in your last quarterly GSTR-3B filed or 100% of the net cash paid in your last monthly FORM GSTR- 3B (whichever is applicable).

This will be an auto-calculated system generated challan and no calculation / assessment has to be done by you. Taxpayers may note that no interest would be payable in case the tax due is paid in the first two months of the quarter by way of depositing auto-calculated system generated challan as detailed in by the 25 th of the succeeding month.

The taxpayer must pay an amount of tax mentioned in a pre-filled challan in the form GST PMT-06 for an amount equal to 35% of the tax paid in cash.

1. Self Assessment Method (SAM):- This is a similar way where we use to pay our taxes on monthly basis under GSTR3B monthly returns like a taxpayer can pay the tax liability by considering the tax liability on inward and outward supplies and the input tax credit available.

The taxpayer needs to manually asses the the tax liability for the month and needs to pay the same by creating GST PMT-06 challan.  (Actual tax due – after adjusting ITC)

NOTE:- To avail ITC for the month – get it from GSTR-2B.

How to create “GST PMT-06 challan” under QRMP scheme?

Step 1.

Go to “Services” => select on “Payments” =>> select “Create challan”

Step 2.

Select “Monthly payment for quarterly return” => Then “Proceed”

Step 3.

Select your Challan type based on your preference

Note:- Taxpayers are advised to check updated notifications etc. for change in dates.

Under QRMP scheme you will get return filing dashboard in this way

Here we have one very important option which needs to be consider “Invoice Furnishing Facility (IFF)”

So, what is “Invoice Furnishing Facility (IFF)”?

Invoice furnishing facility (IFF) is an option which allows a taxpayers to update their outward supplies details of supply made to registered persons for the first two months of the quarter. This option works similarly like general GSTR-1 filling but it will allow filing for B2B invoices, Amended B2B Invoices, credit notes, debit notes and Amended Credit/Debit Notes only.

NOTE:- IFF facility is optional (Not mandatory). The details of invoices furnished under this facility in the first two months are not required to be furnished again in Form GSTR-1.

What is the benefit of “Invoice Furnishing Facility (IFF)”?

Once we will upload the invoice using IFF, it will be displayed in GSTR-2A and GSTR2B of the recipient. Which means received can claim the ITC while filling their monthly returns instead of waiting for 3 months.

What are the due dates of filling under QRMP scheme?

GSTR 1 Due Dates

GSTR 3B Due Dates

Video Reference:-

AND

<<Second party>>, having its registered office at <<Address>>, through its authorized representative, <<Representative Name>> (hereinafter referred to as “the Lessee”)(Which expression shall, unless repugnant to the context thereof, mean and include its successors and permitted assigns) of the other part.

WHEREAS the Lessor is the absolute owner of the <<Complete details about the premise>>, hereinafter referred to “as the said premises.”

AND WHEREAS the Lessor had agreed to lease or rent the above said premises to the lessee, and the Lessee had agreed to take on rent from the Lessor of the said premises for purpose of operating office on the terms and conditions set out hereafter.

Now This lease or rent deed witness As Under:

That the Lessor will acknowledge the receipt of an amount <<Rent ammount>> (in words) via Bank transfer on <<Date>>, which included the security deposit (Amount) and first month (Month/year) rent (Amount).

That the lessee shall pay to the Lessor in respect of the said premises a monthly rent of Rs <<Amount>> (in wrods) in advance on or before 10th of each English calendar month. The electricity charges shall be payable by the Lessee separately to the Lessor as per the consumption available from the meter installed.

That the Lessee shall not lease the property to a subtenant under any circumstances without the consent of the Lessor/owner/landlord.

That the Lessee shall follow all the rules and regulations, by-laws set by the local authorities in respect of the leased property and will not get involved or do illegal activities in the leased property.

That this lease or agreement is granted for a period of eleven (11) months with effect from 1st August 2020 to 31st July 2020 and this contract can be extended further with the mutual consent of both the parties as per the current rental value in the market.

That the Lessee shall not be permitted to do a construction in the rented premises. Besides, he/she could do the installation of temporary decoration, wooden partition/cabin, air conditioners etc. without seeking the permission of the landlord.

That the Lessee is not allowed to make any alteration in the rented property without the written consent of the owner.

That the Lessee will have to allow the landlord or his authorized agent to enter in to rented premises for its inspection or general checking for any repair work, if needed at any reasonable time.

That the Lessee shall keep the premises clean and shall not involve in any activity that causes problems to neighbours.

That this contract/agreement could be revoked before the expiry of this tenancy period by serving one month prior notice.

That the Lessee shall not involve in illegal activities and will not keep any offensive, dangerous or explosive articles in the premises.

That the Lessee shall pay one month rent in advance to the landlord that would be further returned or adjusted (against any lossess done by Tenant/Lessee of the said premises) when Lessee will leave the said premises.

That both the Lessor and the lessee hereby agree that in case of any dispute the same is subject to Bokaro Steel City (Jharkhand) jurisdiction only.

That both the parties, landlord and the tenant, have read and understood this agreement and have agreed to sign the same without any pressure from any side.

In WITNESS WHEREOF the lessor/owner and the tenant/lessee have hereunto subscribed their hand at _ (place) on this the ______ (date of rent agreement) year first above mentioned in presence of the following witnesses.

Witnesses:

1.

2.

1. How many directors may get reimbursement from the Company?

Ans:- There is no restriction all directors can get reimbursement

2. Do the Director need to submit proof and how?

Ans:- Yes, through vouchers,bills,letters

3. Director of the company can also work as an employee and get salary?

Ans:- Yes, but it should qualify as professional capacity other than as a director.

4. What kind of reimbursement is allowed for Directors?

Ans:- Expenses incurred for business will be allowed

Government has released a new notification with all the GSTR due dates and late fine provisions updates.

We have simplified the notification and here you can find all the due dates and penalties information accordingly.

Note:- First categorize yourself in Turnover SLAB

• Turnover is more than INR 5 Crore
• Turnover is up to INR 5 Cr

GSTR 3B due dates (If turnover is up to INR 5 Crore)

For following States and Union territories

Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana or Andhra Pradesh

Daman and Diu and Dadra and Nagar Haveli, Puducherry, Andaman and Nicobar Islands Lakshadweep

For following States and Union territories

Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand or Odisha

Union territories of Jammu and Kashmir, Ladakh, Chandigarh and Delhi

Due dates for GSTR 1 for FY 2020

Notifications will follow.

Group 1: Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Puducherry, Telangana, Andhra Pradesh, Other Territory – 3rd February 2020

Group 2: Jammu and Kashmir, Himachal Pradesh, Punjab, Chandigarh, Uttarakhand, Haryana, Delhi, Rajasthan, Gujarat- 5th February 2020

Group 3: Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Andaman & Nicobar Islands, Jharkhand, Odisha, Chhattisgarh, Dadra and Nagar Haveli and Daman and Diu, Lakshadweep, Madhya Pradesh, Uttar Pradesh- 7th February 2020

Professional tax determined or set by respective State Governments based on the income slab but the maximum levied can not exceed INR 2500 per year.

Applicability of Professional TAX

1. Salaried employee
2. Professional practitioner like CA’s, Lawyers, Doctors etc
3. Employer (corporates, partnership firms, sole proprietorship etc) also being a person carrying on trade/profession is also required to pay professional tax on his trade/profession.

In India currently 15 states are collecting Professional taxes in their state

1. Andhra Pradesh
2. Chhattisgarh
3. Karnataka
4. Maharashtra
5. Tamil Nadu
6. Assam
7. Gujrat
8. Kerala
9. Meghalaya
10. Tripura
11. Bihar
12. Jharkhand
13. Madhya Pradesh
14. Odisha
15. West Bengal

The companies or businesses owners have the responsibilities to enroll for PT (professional tax) for doing business in Karnataka state and shall pay certain annual tax before 30th April of every year.

PENALTIES FOR LATE PAYMENT OF PROFESSIONAL TAX
In case of late payment of Professional Tax in Karnataka
= Interest @1.25% pm would be levied.
= Maximum penalty of 50% of the total amount due.

How to file or submit professional tax?
As this tax is levied by state government that’s why there is no uniform website or pattern to submit it. Every state collect this tax by different-different mode either online through their dedicated websites online or through offline by visiting their office.In the state of Karnataka you can pay your Professional tax either by visiting the office or through through their websites mentioned below:
https://vat.kar.nic.in/epay/

Step 1

Step 2

After that fill up all the boxes with details and make the payment at the end.

http://pt.kar.nic.in/(S(fsogcmwsllxer3r11rb54pdj))/Main.aspx

For Queries you can contact to these official numbers:
Timings:- 10.00am to 05.30pm

Phone numbers:- 080-22208401 | 080-22252258 | 080-22342689