Eligibility:

• You must have a registered GSTIN.
• Your aggregate turnover at PAN level should be up to Rs. 5 crore in the current financial year.
• You cannot opt for the scheme if your aggregate turnover exceeds Rs. 5 crore in any quarter during the same year.

Method of opting:

1. Time window: You can opt for the QRMP GST act 2017 scheme any time between the 1st day of the 2nd month of the preceding quarter and the last day of the 1st month of the quarter. For example, if you want to opt for the scheme for the July-September quarter, you can do so between May 1st and June 30th.
2. Mode of opting: You can opt for the scheme electronically through the GST Common Portal.
3. Steps:
   • Login to the GST portal using your credentials.
   • Go to the “Services” tab and select “Returns” option.
   • Click on “Return Dashboard” and then choose “Furnish Return”.
   • Select the “Quarterly Return Monthly Payment (QRMP)” option.
   • Confirm your selection and submit.

Things to remember:

• Once opted, the QRMP scheme applies for the entire financial year unless your turnover exceeds Rs. 5 crore in any quarter.
• You will need to file GSTR-1 quarterly on the 13th of the month following the quarter and make monthly tax payments through challan FORM GST PMT-06 by the 20th of each month.
• You can use the Invoice Furnishing Facility (IFF) to report your B2B sales invoices for the first two months of the quarter, simplifying the GSTR-1 filing process.
• Ensure you fulfill the eligibility criteria before opting for the QRMP scheme.

                                            EXAMPLE

Tamil Nadu:

• Eligibility: Businesses with an annual GST act 2017 aggregate turnover of up to Rs. 5 crore can opt for the Quarterly Return and Monthly Payment (QRMP) scheme in Tamil Nadu.
• Opting In: You can opt for the QRMP scheme electronically through the GST portal. Here’s how:
  1. Login to the GST portal using your valid credentials.
  2. Go to Services > Returns > Opt-in for Quarterly Return option.
  3. Select the “Yes” option for opting into the QRMP scheme.
  4. Confirm your selection and submit the request.
• Effective Date: Your chosen option for filing returns (quarterly or monthly) will be effective from the next financial quarter.
• Monthly Payments: Even though you file GST act 2017returns quarterly, you must still make monthly payments of taxes due based on your provisional liability calculated in Form GSTR-3B. These payments are due by the 20th of the following month.

General Information (Applicable to all states):

• You can also opt for or out of the QRMP scheme before the commencement of each GST act 2017financial year.
• Businesses that cross the turnover threshold of Rs. 5 crore during the year must switch to monthly return filing from the quarter in which the limit is breached.
• If you’re unsure about your eligibility or have any further questions, it’s always best to consult a chartered accountant or tax advisor for expert guidance.

                                       FAQ QUESTIONS

Eligibility:

• Turnover Limit: Businesses with an GST act 2017aggregate turnover of up to Rs. 5 crore in the preceding financial year are eligible to opt for quarterly return filing.
• Types of Taxpayers: All registered taxpayers under GST, except those categorized as composition taxpayers, can opt for quarterly filing.

Opting In/Out:

• Initial Option: The option to file quarterly returns is chosen during the GST registration process itself.
• Mid-year Switching: Once registered, you can switch between monthly and quarterly filing at the beginning of a quarter (April, July, October, January) by informing the tax authorities through your GST portal.
• Deadline for switching: You need to GST act 2017choose your filing frequency for the next quarter before the 20th day of the first month of that quarter. For example, to file quarterly for July-September 2024, you need to opt before 20th June 2024.
• Automatic Switching: If your aggregate turnover exceeds Rs. 5 crore in any financial GST act 2017year, you will automatically be switched to monthly filing from the next financial year.

Return Forms:

• Quarterly Returns: Under the Quarterly Return, Monthly Payment (QRMP) scheme, you need to file:
  • GSTR-1: Quarterly return for outward supplies (due by 10th of the next month)
  • GSTR-3B: Quarterly return for tax payment (due by 20th of the next month)
• Payment: Tax liability for each quarter needs to be paid in the first two months of the quarter (by 20th of the second month) through challan form GST PMT-06.

Important Notes:

• You cannot avail input tax credit (ITC) in the first two months of the quarter while filing quarterly returns.
• Late filing penalty for quarterly returns is higher than that for monthly returns.
• Choosing quarterly filing might not be suitable for businesses with significant monthly fluctuations in turnover.

                                           CASE LAWS

The opting for furnishing quarterly returns under the GST Act, 2017 is not directly governed by case laws, but by Central Goods and Services Tax (CGST) Rule 61A. This rule outlines the eligibility and procedure for choosing quarterly returns. Here’s a summary:

Eligibility for Opting Quarterly Returns:

• Aggregate Turnover: A registered GST act 2017 person can opt for quarterly returns if their aggregate turnover in the preceding financial year was less than Rs. 5 crore.
• No Default in Returns: All due GST returns for the previous quarter must be filed before opting for quarterly returns.
• Not a Casual Taxable Person: Casual taxable persons are not eligible for quarterly returns.
•  

Procedure for Opting:

• The option for quarterly returns can be exercised online through the GST portal.
• This can be done at any time during the financial year, but is usually recommended before the commencement of the quarter for which the option is being exercised.
• Once opted, the choice will stay for the entire financial year unless:
  • The aggregate turnover exceeds Rs. 5 crore in the current financial year.
  • The option is revised online through the portal.
  • The Commissioner cancels the option due to non-compliance.

Case Laws and Judicial Precedents:

While there are no specific case laws on the manner of opting for quarterly returns, GST act 2017 courts have interpreted various provisions of the GST Act and Rules related to returns, which may have indirect implications on this process. For example, judgments on the meaning of “aggregate turnover” or the consequences of non-filing returns can impact the eligibility and consequences of opting for quarterly returns.