Vide Notification No 06/2022- Central Tax Dated 17th May 2022, the CBIC has extended due date for making monthly payment for April 2022 in Form GST PMT-06 under QRMP scheme to 27th May 2022.
Attention Taxpayers who are under QRMP Scheme in GST. Today is the last date to file your GSTR-1 Return for the quarter October, 2021 to December, 2021. If you will not file your GSTR-1 return for the said quarter today, then corresponding ITC will not be available to buyers in their GSTR-2B as per section …
Alert For Taxpayers Who Are Under QRMP Scheme in GST Read More »
Ref.: TC/GST/21-22/1 Date: 09.11.2021 To, The Central Board of Indirect Taxes and Customs, North Block, New Delhi- 110001 Sub.: Request for extension of due dates for filing GSTR-1/ IFF for the month of October 2021 due to festivals like Dhanteras, Deepawali and Chhath Puja. Respected Madam/ Sir, Tax Concept is a well known platform formed …
Today, (i.e. 31st October 2021) is the last date to opt-in or opt-out from QRMP scheme for 3rd quarter (i.e. October- December 2021) of the FY 2021-22.
Almost all taxpayers and professionals are thinking that last date for claiming ITC of FY 2020-21 is 20th October 2021. But it is not correct. To understand this, let read the lines of section 16(4): “A registered person shall not be entitled to take input tax credit in respect of any invoice or debit note …
Removing Doubts: What is The Actual Due Date for Claiming ITC of FY 2020-21 Read More »
Today is the last date to file GSTR-1 for the quarter July- September 2021 for taxpayers who are under QRMP scheme.
Business Concept’s Daily E-News Letter- 25-09-2021 Please Click on Read More » to Read Full News Note: Only TC VIP Users can Access It For New User- More information, Please Visit Here [ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”2″ ihc_mb_template=”1″ ] GST & Income Tax Net Direct Tax Collections Till September 22 Grews 74%, Says Finance Ministry Gross direct …
Business Concept’s Daily E-News Letter- 25-09-2021 Only for TC VIP Users Read More »
Few important changes related to QRMP Scheme implemented on the GST Portal for the taxpayers are as given below: A.Auto population of GSTR-3B liability from IFF and Form GSTR 1 : A taxpayer under QRMP Scheme can declare their liability through optional IFF for Month 1 and Month 2 of a quarter & Form GSTR-1 for …
Important changes related to QRMP Scheme implemented on the GST Portal for the taxpayers. Summary of changes 1) Auto population of GSTR-3B liability from IFF and Form GSTR 1. 2) Nil filing of Form GSTR-1 (Quarterly) through SMS. 3) Impact of cancellation of registration on liability to file Form GSTR-1.
As Indian businesses are severely affected from the second wave of COVID-19, the government has provided reliefs in GST compliance as well as payment. The compilation of these reliefs are as under for the kind reference of taxpayers and professionals: (1.) Waiver of interest and late fee to normal taxpayers (filing return on monthly or …
For third month of the quarter, taxpayers can click the button “Create Challan” in Payment Table 6 of Form GSTR-3B and file GST PMT-06 Challan, for depositing any amount towards their tax liability.
An Invoice Furnishing Facility (IFF) facility has been provided to taxpayers under QRMP Scheme (Quarterly filers of Form GSTR-1 and also of Form GSTR-3B returns), as per sub-rule (2) of Rule-59 of the CGST Rules, 2017.
What is “Quarterly Returns with Monthly Payment (QRMP)” Scheme? Answer: QRMP scheme is for small taxpayers to file their FORM GSTR1 and FORM GSTR-3B returns on quarterly basis while paying their tax dues monthly through a simple challan. Is this scheme available to everyone? Answer: No. This scheme is available only to those who are …
CBIC issues FAQs on Quarterly Return Monthly Payment (QRMP) Scheme in GST Read More »
Today, GSTN has enabled option for opting quarterly filing of GST returns under QRMP scheme. Payment will be monthly in this scheme. The said option can be navigated through : Services >> Returns >> Opt-in for Quarterly Return However, the window will open on 5th December, 2020. Currently, the message as shown in below picture …
GSTN Enabled Option for Opting Quarterly Filing of GST Returns under QRMP Scheme Read More »
Introduction: GST Council in its 42nd meeting held on 05.10.2020, had recommended that registered person having aggregate turnover up to five (5) crore rupees may be allowed to furnish return on quarterly basis along with monthly payment of tax, with effect from 01.01.2021. Eligibility for the QRMP Scheme: In terms of notification No. 84/2020- Central …
NEW GST RETURNS: (QRMP) Quarterly Return Monthly Payment Scheme Read More »