Vide Notification No. 82/2020–Central Tax dated November 10, 2020, inter alia, new Rue 61A is inserted related to manner of opting for furnishing quarterly return (Form GSTR-3B) under proviso to Section 39(1) of the CGST Act, 2017 w.e.f. November 10, 2020.
Further, the CBIC vide Notification No. 84/2020–Central Tax dated November 10, 2020, has notified as under w.r.t. implementation of the Scheme of quarterly return filing along with monthly payment of taxes (“QRMP Scheme”):
- A registered person who is required to furnish a return in Form GSTR-3B, and who has an aggregate turnover of up to 5 crore rupees in the preceding financial year, is eligible for the QRMP Scheme w.e.f. January 1, 2021, subject to following conditions:
- the return for the preceding month, as due on the date of exercising such option, has been furnished:
- where such option has been exercised once, they shall continue to furnish the return as per the selected option for future tax periods, unless they revise the same
- A registered person whose aggregate turnover crosses five crore rupees during a quarter in a financial year shall not be eligible for furnishing of return on quarterly basis from the first month of the succeeding quarter.
- For the registered person falling in the class specified in column (2) of the Table below, who have furnished the return for the tax period October, 2020 on or before 30th November, 2020, it shall be deemed that they have opted under sub-rule (1) of rule 61A of the CGST Rules for the monthly or quarterly furnishing of return as mentioned in column (3) of the said Table:-
TABLE
| SL No. | Class of registered person |
Deemed Option |
|
(1) |
(2) |
(3) |
|
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. |
Registered persons having aggregate turnover more than 1.5 crore rupees and up to 5 crore rupees in the preceding financial year |
Quarterly return |
The registered persons referred to in column (2) of the said Table, may change the default option electronically, on the common portal, during the period from the 5th day of December, 2020 to the 31st day of January, 2021.
The Notification can be accessed at: https://www.cbic.gov.in/resources//htdocs-cbec/gst/notfctn-84-central-tax-english-2020.pdf
Please also read the clarification issued on QRMP Scheme at: https://www.cbic.gov.in/resources//htdocs-cbec/gst/Circular_Refund_143_11_2020.pdf