QRMP Returns Update – Quarter ending 31 March 2021

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Update for QRMP Returns for the quarter ending 31st March 2021

It is advisable to consider the following points in mind while filing the quarterly returns for the taxpayers who have opted for the QRMP scheme.

⇒ The due date for furnishing Form GSTR 1 for the quarter will be the 13th of the following month after the end of the quarter.

⇒ The due date for furnishing Form GSTR 3B for the quarter will be the 22nd or 24th of the following month after the end of the quarter.

Points to be considered while filing GSTR 1 for the quarter ending 31st Mar 2021

 

GSTR 1

Returns Status

Remarks

Jan 2021/Feb 2021

Filed No action to be taken
Jan 2021/Feb 2021 Saved but not submitted and filed

Reset data by deleting all the details saved in the respective months as a matter of abundant precautions

March 2021 – B2B Invoices / B2B Invoices amendments/Debit & Credit Notes

To be filed on or before the specified dates as notified from time to time. 1. Don’t update any B2B invoices or amendments to B2B Invoices or CN/DN which are already filed in Jan 21 & Feb 21.

2. If any invoices are missed for the month of Jan 21 and Feb 21 in respect of B2B invoices or amendments to B2B Invoices or CN/DN then they can be entered while reporting invoices during the GSTR 1 for the quarter ending 31st Mar 2021

March 2021- Export Invoices and Amendments to Export Invoices

To be filed on or before the specified dates as notified from time to time.

Information to be filed for the quarter ending 31st Mar 2021 as such information was not reported during the month of Jan 2021 & Fe 2021.

March 2021- B2C Invoices – more than 2.50 Lakhs and Less Than 2.50 Lakhs and amendments pertaining to the same if any

To be filed on or before the specified dates as notified from time to time

Information to be filed for the quarter ending 31st Mar 2021 as such information was not reported during the month of Jan 2021 & Fe 2021. (IFF)
HSN and SAC Reporting

To be filed on or before the specified dates as notified from time to time

Information to be filed for the quarter ending 31st Mar 2021 as such information was not reported during the month of Jan 2021 & Fe 2021.

Documents List Reporting To be filed on or before the specified dates as notified from time to time.

Information to be filed for the quarter ending 31st Mar 2021 as such information was not reported during the month of Jan 2021 & Fe 2021.

Points to be considered while filing GSTR 3B for the quarter ending 31st Mar 2021

Information

GSTR 3B

Remarks

Will data filed for the month of Jan 2021 & Feb 2021 would be auto-populated in GSTR 3BQ?

No RTP is expected to compile such details of the quarter ending 31st March 2021 in respect of all supplies as applicable viz. Taxable Supplies with Levies, Export Supplies with and without levies, Exempt, NIL Rated or non-taxable supplies and RCM supplies as applicable
Will ITC be auto-populated in GSTR 3BQ? No

RTP is expected to compile such details of the quarter ending 31st March 2021 in respect of all ITC availed for the said quarter and claim as we are claiming and reversing in normal GSTR 3B earlier

Payments made under QRMP scheme during the month of Jan 2021 & Feb 2021 is not reflected in GSTR 3BQ?

Yes Information is available for review while offsetting the liabilities while filing GSTR 3BQ for the quarter ending 31st March 2021.

Is Interest payable for short payment or non-payment as per QRMP scheme is auto-populated?

No

RTP is expected to compute such Interest payable for the quarter ending 31st March 2021 and pay the same in cash at the time of filing of GSTR 3BQ.

Will late fees payable would be auto-populated in respect of delay in filing of returns? Yes

It would be auto-populated. Do verify and then pay the same in cash while filing GSTR 3BQ for the quarter ending 31st March 2021

(Note: Above information is based on Author’s understanding and review. Any suggestions to improve the above information will be welcomed by folded hands with appreciation in advance. All readers are requested to take their considered views based on their own study to reach any suitable conclusions.)

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CA Nitin Bhuta
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