Guide on QRMP selection on GSTIN portal

Last date for selection of QRMP or Monthly option is 30th April 2021 FOR FY 21-22 Q1. Currently, you may be in QRMP , but here are Reasons why to select "Monthly" even if Turnover is below 5 Crores.

QRMP

- Scheme एक Problems अनेक

Read 6 reasons below

1. If client (Taxpayer) is having mix of all type of Invoices having exempted , b2c and it is not advisable to segregate monthly NON-B2b data. Yes its very cumbersome. Better choose Monthly for such client.

2. If he is into Export or having Inverted duty structure & asking for refund . Better to Go monthly.

3. if his Customers holding payment until Client pays tax in 3B and untill ITC shown in his 2B. Then better monthly compliance.

4. If he is giving proper data every month for 3B & 1 on time then why not.. Its better to go monthly

5. If Some months sales is above Rs. 50 lac & Some months lower then IFF won't be advisable. So better choose Monthly

6. If he is having Seasonal Business or If he is Having Nil Turnover in some month and huge turnover in some month eg billing quarterly

In all above case , Better Select Monthly for Less hassles.

REMEMBER 30TH APRIL is last date to change frequency.

Do take action timely

Dont let portal decide the frequency

Choose wisely, live well. Comment below and let us know what do you think about this. Also give your opinion on it. We would love to hear your point of view on it.

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