3. The GST Council in its meeting held on oct
05th had said that Registered Person How’s
aggregate Turnover up to 5 Cr May be
Allowed to furnished a return on QRMP along
with monthly payment of tax with effects
from January 01.
4.
5. Taxpayer can Opt in for any Quarter from
first day of second Month of Preceding
Quarter.
The last day of first month of the quarter
Eg: From Jan to March there is one quarter and
then Tax payer can opt Their scheme with
from Nov 1st to Jan 31st
6. A tax payer should have furnished his Last
Month return with in due date
Once Option Execercised There turnover
should be with in 5Cr and if exceeds the
taxpayer will not be eligible under this
Scheme
7. It is also called as fixed sum Method Payment
of Tax which was due for the first two months
of quarter
The tax can be Paid in the form PMT-06 by
Before 25th day of the month Succeeding
such Month.
8. Tax payer needs to file only 4 returns in a
year.
Tax payer will have facility to upload invoice
details using IFF upto 50Lakhs for 1ndand
2ndMonth of Quarter.
Invoices will be reflected in 2A and 2B.
Reduction of Burden.
Easily Opt in and Opt out of the Scheme.
9.
10. The ECL shall be maintained in firm GST PMT-
02 for each registered eligible for input tax
credit shall be credit to ECL.
ECL shall be debited when there is of any
discharges of any liability in accordance with
provision of Sec-49 ( payment of tax Penalty
etc).
11. If the refund so filed Rejected either fully or
partly, the amount debited sub rule(3)to the
entent of rejection shall be re-credit to the
ECL by the Proper officer
A register person shall upon Noticing any
discrepancy in his Electronic Credit Leger,
Commercial.
12. The same to the officer eneresing
Juriselection in the matter, Through the
comman Portal in form GST PMT-04.
13. The credit of input to has been availed on
those invoice-debit notice ( Conclition for
utilizing of ITC)
Issued by RP who has found that there is no
evistanue of business from any place for
which registration has been Obtained.
Without the Receipts of goods- Services
Obtained.
