GST NEWS BULLETIN

New QRMP Scheme Notified For Quarterly Filing of GSTR-3B

CBIC has notified new QRMP (Quarterly Return Monthly Payment) scheme w.e.f. 1st January, 2021 for registered persons opting for quarterly filing of GSTR-3B. A registered person having aggregate turnover up to ₹ 5 crores in the preceding FY is eligible for QRMP scheme. Quarterly filers of GSTR-3B shall have to deposit 35% of the tax liability paid by debiting the electronic cash ledger of the preceding quarter where return is furnished quarterly or 100% of the tax liability paid by debiting the electronic cash ledger in the last month of the preceding quarter where return is furnished monthly.

Furthermore, the payment of tax shall be made vide challan PMT-06 by the 25th day of the month succeeding the month for which payment is made.

Read more at

Furnishing of Details of Outward Supplies using Invoice Furnishing Facility (IFF)

The registered persons opting for QRMP scheme may furnish the details of outward supplies for the 1st & 2nd months of the quarter up to cumulative value of ₹ 50 lakhs in each month using Invoice Furnishing Facility (“IFF”) duly authenticated on the GST portal from 1st to 13th day of the month succeeding such 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.

Important point to note is that said facility is not mandatory and is only an optional facility made available to the registered persons under the QRMP Scheme.

Read more at

Due Date For Furnishing FORM ITC-04 Extended

CBIC vide Notification No. 87-2020 -CT has extended the due date for furnishing of FORM ITC-04 (details of goods dispatched to a job worker or received from a job worker) for the period July- September 2020 till 30th November, 2020.

Read more at

E-Invoicing Applicable For Taxpayers Having Aggregate Turnover Exceeding ₹ 100 Crores w.e.f. 1st January, 2021.

CBIC vide Notification No. 88-2020 -CT has extended the applicability of provisions of e-invoicing for registered persons whose aggregate turnover exceeds ₹ 100 crores in any of the preceding financial year from 2017-18 onwards w.e.f. 1st January, 2021.

Read more at

GST Turnover Details to be Reflected in 26 AS of Taxpayers

The information relating to GST return will be auto populated in 26 AS from F.Y. 2019-20. Details like GSTIN, ARN, date of filing of return, return period, taxable turnover & total turnover will be reflected in 26 AS of the taxpayers.

Read more at