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.