TMI BlogQuarterly Return Monthly Payment SchemeX X X X Extracts X X X X X X X X Extracts X X X X ..... SI. No. Notification Remarks 1. Notification No. 81/2020 - Central Tax , dated 10.11.2020. Notifies amendment carried out in sub-section (1), (2) and (7) of section 39 of the CGST Act vide Finance (No.2) Act, 2019. 2. Notification No. 82/2020 - Central Tax , dated 10.11.2020. Makes the Thirteenth amendment (2020) to the CGST Rules, 2017 . 3. Notification No. 84/2020 - Central Tax , dated 10.11.2020. Notifies class of persons under proviso to section 39(1) of the CGST Act. 4. Notification No. 85/2020 - Central Tax dated 10.11.2020. Notifies special procedure for making payment of tax liability in the first two months of a quarter 2. Various issues related to notifications issued to implement the QRMP Scheme have been examined. In order to explain the Scheme in simple terms and in order to ensure uniformity in implementation across field formations, the B ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for the FY 2019-20 is up to 5 crore rupees and who have furnished the return in FORM GSTR-3B for the month of October, 2020 by 30th November, 2020 , shall be migrated on the common portal as below. Therefore, taxpayers are advised to furnish the return of October, 2020 in time so as to be eligible for default migration. The taxpayers who have not filed their return for October, 2020 on or before 30th November, 2020 will not be migrated to the Scheme. They will be able to opt for the Scheme once the FORM GSTR-3B as due on the date of exercising option has been filed. Sl. No. Class of registered person Default Option 1 Registered persons having aggregate turnover of up to 1.5 crore rupees who have furnished FORM GSTR-1 on quarterly basis in the current financial year Quarterly return 2 Registered persons having aggregate turnover of up to 1.5 crore rupees who have furnished FORM GSTR-1 on monthly basis in the current financial year Monthly Return 3 Re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... such outward supplies to a registered person , as he may consider necessary, between the 1st day of the succeeding month till the 13th day of the succeeding month. The said details of outward supplies shall, however, not exceed the value of fifty lakh rupees in each month. It may be noted that after 13th of the month, this facility for furnishing IFF for previous month would not be available. As a facilitation measure, continuous upload of invoices would also be provided for the registered persons wherein they can save the invoices in IFF from the 1st day of the month till 13th day of the succeeding month. The facility of furnishing details of invoices in IFF has been provided so as to allow details of such supplies to be duly reflected in the FORM GSTR-2A and FORM GSTR-2B of the concerned recipient. For example, a registered person who has availed the Scheme wants to declare two invoices out of the total ten invoices issued in the first month of quarter since the recipient of supplies covered by those two invoices desires to avail ITC in that month itself. Details of these two invoices may be furnished using IFF. The details of the remaining 8 invoices shall be furnis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uarter Ending March, 2021: Tax paid in Cash in Quarter (January - March, 2021) Tax required to be paid in each of the months - April and May, 2021 CGST 100 CGST 35 SGST 100 SGST 35 IGST 500 IGST 175 Cess 50 Cess 17.5 ii. In case the last return filed was monthly for tax period March, 2021: Tax paid in Cash in March, 2021 Tax required to be paid in each of the months - April and May, 2021 CGST 50 CGST 50 SGST 50 SGST 50 IGST 80 IGST 80 Cess - Cess - Monthly tax payment through this method would not be availabl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n subsequent quarters. In case of cancellation of registration of such person during any of the first two months of the quarter, he is still required to furnish return in FORM GSTR-3B for the relevant tax period. 8. Applicability of Interest 8.1. For registered person making payment of tax by opting Fixed Sum Method i. No interest would be payable in case the tax due is paid in the first two months of the quarter by way of depositing auto-calculated fixed sum amount as detailed in para 6.1(a) above by the due date. In other words, if while furnishing return in FORM GSTR-3B , it is found that in any or both of the first two months of the quarter, the tax liability net of available credit on the supplies made /received was higher than the amount paid in challan, then, no interest would be charged provided they deposit system calculated amount for each of the first two months and discharge their entire liability for the quarter in the FORM GSTR-3B of the quarter by the due date. ii. In case such payment of tax by depositing the system calculated amount in FORM GST PMT-06 is not done by due date, interest would be payable at the applicable rate, from the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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