The QRMP Scheme is a simplified tax filing option under India’s Goods and Services Tax (GST) system. It allows eligible businesses to file their GST returns quarterly, while still making monthly tax payments. This scheme is especially helpful for small and medium enterprises (SMEs) that want to reduce the burden of frequent GST return filings.
Businesses with an aggregate annual turnover of up to ₹5 crore in the previous financial year can opt into this scheme. Under QRMP, the taxpayer needs to file GSTR-3B every quarter and make monthly payments through Form PMT-06. They can choose to pay taxes either based on actual turnover (self-assessment) or a fixed sum method (35% of the previous quarter's tax).
The main benefit of the QRMP Scheme is that it reduces compliance workload without affecting the timely payment of taxes. It also gives business owners more time to reconcile their books and manage their GST obligations in a structured way.
In practical terms, this scheme is highly useful during GST compliance and routine filings. It supports smoother cash flow management for small businesses and ensures that tax dues are paid without the stress of monthly return filings.
To know more about how the QRMP Scheme fits into your GST strategy or to get expert help with your filings, visit FinTax24’s GST solutions.
This scheme is a smart compliance choice for small businesses aiming for efficient tax management under GST.