CA Intermediate · Taxation · Returns
Sunrise Foods, Indore, is registered under the QRMP scheme with aggregate turnover of Rs 4 crore in the preceding year. Which statement about its compliance is correct?
Under the Quarterly Return Monthly Payment scheme, a taxpayer with turnover up to Rs 5 crore files GSTR-1 and GSTR-3B quarterly but must still pay the tax every month, by challan, by the 25th of the following month.
- AIt may file GSTR-1 quarterly and pay tax monthly using a challanCorrect
- BIt must file GSTR-3B monthly and GSTR-1 quarterly
- CIt must file both GSTR-1 and GSTR-3B monthly
- DIt files GSTR-3B quarterly and pays tax only once a quarter
Explanation
Under QRMP, a person with turnover up to Rs 5 crore files GSTR-1 and GSTR-3B quarterly, but pays tax monthly through challan (PMT-06) by the 25th. Option B and C reverse or ignore the quarterly facility. Option D is wrong because tax is paid monthly, not only once.
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