Taxontips
No Result
View All Result
Tuesday, June 6, 2023
Login/ Register
  • Home
  • Income Tax
    • Income Tax Return
    • Tax Notice/ Personal consultation
    • Compliance Notice
    • Faceless Assessment
  • GST
    • GST Registration
    • GST Consultation
  • News
    • Income Tax News
    • GST news
    • Budget News
    • Business & Other News
  • Q & A
  • About us
  • Contact us
Talk to an Expert
  • Home
  • Income Tax
    • Income Tax Return
    • Tax Notice/ Personal consultation
    • Compliance Notice
    • Faceless Assessment
  • GST
    • GST Registration
    • GST Consultation
  • News
    • Income Tax News
    • GST news
    • Budget News
    • Business & Other News
  • Q & A
  • About us
  • Contact us
No Result
View All Result
Taxontips
No Result
View All Result

Do taxpayer under QRMP scheme have to file anything or pay any tax if there is no tax payable in a month?

GST expert by GST expert
February 25, 2021
in GST news
0
Data of GST website under comparison of liability declared and ITC claimed tab not available
104
SHARES
1.3k
VIEWS
image_pdfPDFimage_printPrint

As we know QRMP scheme was started from January 2021 and those who have opted for QRMP scheme can file GST return i.e. GSTR 3B on quarterly basis but will have to pay GST on a monthly basis and today is the first due date for payment of tax under QRMP scheme.

Under the QRMP scheme there are two methods of payment of tax:

1. Self assessment method.

2. Fixed Sum Method: wherein portal will calculate 35% of tax paid in earlier months.

To read more about above methods CLICK HERE.

Now the question which arises is that what should a person do, who is under QRMP scheme and according to self assessment scheme there is no tax payable for him as he has sufficient ITC.

Should he pay tax under fixed sum method?

Is he required to file any declaration or return?

As of now no clarification has been provided by CBIC or GST department on same and no clarification was mentioned in FAQ issued by GST department on QRMP scheme.

Under the QRMP scheme one is just required to make monthly payment of tax and there is no requirement/ facility of filing any return or declaration.

Hence, it can be said that for a person who thinks that he is not liable to pay any tax in cash because of enough ITC available will not have to file any return or declaration and can directly file details of supply in quarterly return.

 

What are your thoughts on above? Comment below.

image_pdfPDFimage_printPrint
Tags: monthly payment of taxQRMP scheme
Previous Post

TCS rate chart for FY 2021-22 w.e.f. 01.04.2021 | Rate of tax collection at source from 01.04.2021

Next Post

Salaried employees receiving defective notice u/s 139(9) from Income tax department for difference in TDS | What to do?

Related Posts

GST registration
GST news

₹1,57,090 crore gross GST revenue collected for May 2023; clocks 12% Year-on-Year growth

June 2, 2023
Annual return optional for F.Y. 2017-18 and 2018-19 for Turnover below Rs. 2 crore
GST news

Instructions for conducting scrutiny of returns for FY 2019-20 onwards under GST [Read instructions]

May 27, 2023
GST registration
GST news

GUIDELINES FOR SPECIAL ALL-INDIA DRIVE UNDER GST

May 24, 2023
GST registration
GST news

GST revenue collection for April 2023 highest ever at Rs 1.87 lakh crore

May 13, 2023
GST registration
GST news

Turnover limit for E-invoicing reduced to Rs. 5 crore from Rs. 10 crore [Read notification]

May 11, 2023
GST on GTA services – A brief analysis
GST news

CBIC extends last date for exercise of option by GTA to pay GST under forward charge [Read notification]

May 10, 2023
Next Post
Received mail from GSTN “Aggregate turnover being more than Rs. 5 Cr during FY 2019-20” What does this mean?

Salaried employees receiving defective notice u/s 139(9) from Income tax department for difference in TDS | What to do?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Google Custom search

Recent Posts

  • Condonation of delay in filing refund claim and claim of carry forward of losses under Section 119(2)(b) of the I.T. Act
  • ₹1,57,090 crore gross GST revenue collected for May 2023; clocks 12% Year-on-Year growth
  • Due date for filing SFT extended from 31.05.2023 for FY 2022-23?
  • E-appeal scheme, 2023 announced by CBDT, JCIT(A) will now hear appeal [Read notification]
  • Limit of exempt income for leave encashment for non-govt employees increased to Rs. 25 lakh [Read notification]

Recent Comments

  • Notification under PMLA by Ministry of Finance which could affect CA, CS and CMA - Taxontips on CA, CS and CMA now under PMLA. KYC of clients required
  • ITR 4 is now available on e-filing website for FY 2022-23 i.e. AY 2023-24 | File ITR with experts on Taxontips – Taxontips on Businessman with turnover below 1 crore and having profit below 8% need to compulsorily get books of accounts audited: Let’s find out
  • Can a person earning income from speculative business transaction file return u/s 44AD of Income tax act - Taxontips on How to calculate turnover in case of intra day and future and option trading for Income Tax purpose?
  • Extension of last date for updation of Member’s Profile with GSTIN at Self Service Portal – Till 23rd April, 2023 - Taxontips on Updation of Member’s Profile at Self Service Portal with GSTIN to get GST credit till 15.04.2023
  • Akshay Kadam on New error faced in the new Income tax e-filing portal related to log-in of an assessee | E-filing 2.0

Categories

  • Budget News
  • Business & Other News
  • Case Laws
  • GST news
  • Income Tax News
  • News

Browse Topics by Date

June 2023
M T W T F S S
 1234
567891011
12131415161718
19202122232425
2627282930  
« May    
  • GSTR 9/ 9C extended : AGAIN

    GSTR 9/ 9C due date to be extended to 31.10.2020 | E-invoicing will be voluntary in the beginning

    6456 shares
    Share 2582 Tweet 1614
  • How to pay Membership and COP fees of ICAI for 2020-21 |

    6344 shares
    Share 2538 Tweet 1586
  • Code/ Nature of payment 6CR updated by NSDL in challan 281 for paying TCS on sale of goods

    5679 shares
    Share 2272 Tweet 1420
  • Are all the due dates of tax audit and Income tax return for FY 2019-20 extended to 31.03.2021 by the bill presented in Lok sabha Dt. 18.09.2020

    4771 shares
    Share 1908 Tweet 1193
  • SFT transaction mentioned in Form 26AS | What does it mean? | Who reports it? | SFT codes transaction type

    3991 shares
    Share 1596 Tweet 998

Recent Notification

Last opportunity to file Income tax return for F.Y. 2018-19 | Belated return u/s 139(4) of the Income tax Act

Condonation of delay in filing refund claim and claim of carry forward of losses under Section 119(2)(b) of the I.T. Act

June 5, 2023
GST registration

₹1,57,090 crore gross GST revenue collected for May 2023; clocks 12% Year-on-Year growth

June 2, 2023

RSS Taxontips

  • Condonation of delay in filing refund claim and claim of carry forward of losses under Section 119(2)(b) of the I.T. Act
  • ₹1,57,090 crore gross GST revenue collected for May 2023; clocks 12% Year-on-Year growth
  • Due date for filing SFT extended from 31.05.2023 for FY 2022-23?
  • E-appeal scheme, 2023 announced by CBDT, JCIT(A) will now hear appeal [Read notification]
  • Limit of exempt income for leave encashment for non-govt employees increased to Rs. 25 lakh [Read notification]
  • ANNUAL FEE CIRCULAR 2023-24 by ICAI for it’s members
  • Instructions for conducting scrutiny of returns for FY 2019-20 onwards under GST [Read instructions]
  • Extension in time limit for filing Form 10A, 10AB, 10BD, 10 etc. in relation to trust under Income tax act
  • GUIDELINES FOR SPECIAL ALL-INDIA DRIVE UNDER GST
  • Government issues guidelines to calculate net winning for section 194BA of the Act [Read circular]

Categories

  • Budget News
  • Business & Other News
  • Case Laws
  • GST news
  • Income Tax News
  • News

Site menu

  • Home
  • Income Tax
    • Income Tax Return
    • Tax Notice/ Personal consultation
    • Compliance Notice
    • Faceless Assessment
  • GST
    • GST Registration
    • GST Consultation
  • News
    • Income Tax News
    • GST news
    • Budget News
    • Business & Other News
  • Q & A
  • About us
  • Contact us
Taxontips

TaxOnTips provides you all tax related solutions in easy way and update you with its regular updates & notifications Visit us for details.
We are based in Jaipur, India

© 2019-2023 Taxontips.com - Tax assistance at your Fingertips

No Result
View All Result
  • Login/Signup
  • Income Tax
    • Income Tax Return
    • Tax Notice/ Personal consultation
    • Compliance Notice
    • Faceless Assessment
  • GST
    • GST registration
    • GST Consultation
  • News
    • Income Tax News
    • GST news
    • Budget News
    • Business & Other News
  • About us
  • Contact us
  • Ask an expert/ Talk to an expert
  • Q & A
  • Privacy Policy
  • Terms of use

© 2019-2023 Taxontips.com - Tax assistance at your Fingertips

Book Phone consultation with expert

Sitting home or at your office and don't have time to visit CA's office or don't know where to consult CA. Book your consultation with an expert practicing Chartered Accountant and get your query solved.

Book a phone consultation for 30 minutes with our expert at a very basic cost.

Book consultation

No thanks, I'm not interested!