*Fifteen (15) Important Points about Quarterly Return and Monthly Payment (‘QRMP’) Scheme*

1. QRMP Scheme will be effective from *January 01, 2021* and the GSTN system would itself compute the aggregate annual turnover of the taxpayer.

2. The registered person whose aggregate turnover in the preceding financial year is *up to Rs 5 crore* & who is required to furnish Form GSTR-3B is eligible;

3. The option to avail the QRMP Scheme *GSTIN wise is available*, i.e., some GSTINs for a PAN can opt for the QRMP Scheme and remaining GSTINs may not opt for the Scheme but once it is exercised it would be valid for future tax periods.

4. The registered persons opting for the Scheme would be required to furnish the details of outward supply in Form *GSTR-1 on quarterly basis*;

5. *Invoice furnishing facility* (‘IFF’) has been introduced in respect of reporting the invoice for details of supply made to registered persons for the first two months of the quarter.

6. The supplier can upload these invoices *on monthly basis*. The taxpayer can upload maximum of Rs 50 Lakhs worth invoices in each of the two months of quarter. 

7. The IFF facility is *optional*. 

8. The registered persons, whose aggregate turnover for the FY 2019-20 is up to Rs 5 crore and who have furnished the return in Form GSTR-3B for the month of October, 2020 by 30th November, 2020, shall be *automatically migrated* on the common portal.

9. The registered taxpayer having turnover less than Rs 1.5 crores and filing monthly GSTR 1 *would not be automatically migrated* to QRMP scheme.

10. The registered person under the QRMP Scheme would be required to *pay the tax due on monthly basis*  in each of the first two months of the quarter by depositing the due amount in *Form GST PMT-06*. 

11. The amount of tax shall be deposited by the *25th day of next month*.

12. Two types of Payment schemes are made available for first two months of the Quarter – *Fixed Sum Method and Self-Assessment Method*.

13. The registered persons opting for the QRPM Scheme would be required to *furnish Form GSTR-3B, for each quarter*, on or before 22nd or 24th day of the month succeeding such quarter for Class A States and Class B States respectively.

14. The facility for opting out of the Scheme for a quarter will be available from *first day of second month of preceding quarter to the last day of the first month of the quarter*.

15. Registered person, whose aggregate turnover *crosses 5 crore rupees* during a quarter in current financial year, *shall opt for furnishing of return on a monthly basis from the succeeding quarter*.