The CBIC has notified procedure and conditions for opting to furnish returns under Quarter Return Monthly Payment Scheme. We have provided a simple flow chart detailing the same.

1. Your T/O for Previous Year is up to
5 Crore Rupees
& You intend to furnish Returns on quarterly basis
FOR FY 2020-21
4TH QUARTER
FOR ANY OTHER
YEAR
DEEMED
OPTION is
QUARTERLY if
Your T/O for previous
year is up to 1.5
crores & you have
filed quarterly GSTR-1
Your T/O for previous
year is more than 1.5
crores but does not
exceed 5 crores
DEEMED
OPTION is
MONTHLY if
Your T/O for preious
year is up to 1.5
crores & you have
filed monthly GSTR-1
You can change the deemed option between
5th
December 2020 to 31st
Jaunary 2021
If your T/O is up to
5 crores in previous
year and you intend
to furnish return on
quarterly basis opt
for the same
between:
1st day of the last
month of preceding
quarter &
Last day of the first
month of the
quarter for which
the said option is
being exercised
MANNER OF OPTING FOR
FURNISHING QUARTERLY RETURN
 he crosses such limit.NOTES:
 A Register Person shall not be eligible to opt for furnishing returns on quarterly basis
if the last return due on the date of exercising such option has not been filed.
 Where such option has been exercised once, the said Registered Person shall continue
to furnish return on quarterly basis for all the future tax periods unless;
a. He becomes ineligible to opt for furnishing returns on quarterly basis;
b. He opts for furnishing return on monthly basis.
 Where the Registered Person opted for furnishing return on quarterly basis, whose
aggregate T/O exceeds 5 crore rupees during the year, shall opt for furnishing return
on monthly basis on common portal from the first month of the succeeding quarter
in which he crosses such limit.
Prepared & Presented by
SHAH JAIN & ASSOCIATES
CHARTERED ACCOUNTANTS
601, 6th Floor, 307/ 309 Rajesh Rayon Bhavan, Opp. Kakad Market,
Kalbadevi Road, Mumbai – 400 002
+91 86550 30411 | 022 2241 0241 | office@shahjain.in