Quarterly return monthly payment (QRMP) scheme under goods and service tax: Analysis and discussion

Apurva Shukla; Ravindra Tripathi; Mano Ashish Tripathi

doi:10.53730/ijhs.v6nS7.13289

Quarterly return monthly payment (QRMP) scheme under goods and service tax: Analysis and discussion

https://doi.org/10.53730/ijhs.v6nS7.13289

Authors

Apurva Shukla She is a research scholar in the field of Goods and Service Tax, Department of Humanities and Social Sciences, Motilal Nehru National Institute of Technology, Allahabad (Prayagraj), UP, India-211004 and also aspiring Chartered Accountant. She is a graduate in Commerce from University of Allahabad, Prayagraj and Post graduate from Uttar Pradesh Rajarshi Tandon Open University, Prayagraj. She has work experience in the field of accounting, costing, financial management, auditing, finance and taxation (income tax, service tax, VAT and Goods and Service Tax as well). She also did Post Graduate Diploma in YOGA
Ravindra Tripathi currently an Associate Professor (Accounting and Financial Management) and the head of the department of humanities and social sciences at Motilal Nehru National Institute of Technology, Allahabad (Prayagraj), UP, India- 211004. In the University of Allahabad, he was awarded a gold medal. He has also worked on a few projects supported by the ICCSR (India). His study focuses on accounting, taxation, and financial management
Mano Ashish Tripathi Research scholar in the subject of Human Resource at the Department of Humanities and Social Sciences at the Motilal Nehru National Institute of Technology in Allahabad (Prayagraj), Uttar Pradesh, India-211004, where he has been working since 211004

Keywords:

GST, GSTN, QRMP Scheme, Portal, Quarterly, Monthly, IFF, Returns, Fixed Sum Method and Self Assessment Method

Abstract

GST was implemented by Government of India as one indirect tax for whole nation as single tax on the supply of goods and services and was considered as biggest indirect tax reform of Independent India. The main purpose of implementation of GST in India was to replace multiple taxes with uniform tax on supplies and to remove the cascading effect. In order to remove the loopholes and to make the system more efficient and user friendly, the Government of India is continuously hustling to improve Goods and Service Tax Network (GSTN) and updates are being made to the system, provisions and various returns on the portal accordingly from time to time. This new scheme named Quarterly Return Monthly Payment (QRMP) is also the part of said exercise of simplification of process by GOI, introduced w.e.f. 1^st January, 2021, in order to lessen the tax compliance burden and to ease the process of filing returns to MSME taxpayers under GST. QRMP Scheme can be availed by eligible registered persons to file their GSTR-1 and GSTR-3B quarterly and pay taxes on monthly basis.

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References

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Published

08-10-2022

How to Cite

Shukla, A., Tripathi, R., & Tripathi, M. A. (2022). Quarterly return monthly payment (QRMP) scheme under goods and service tax: Analysis and discussion. International Journal of Health Sciences, 6(S7), 5638–5652. https://doi.org/10.53730/ijhs.v6nS7.13289

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Issue

Vol. 6 No. S7 (2022)

Section

Peer Review Articles

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