We wish to bring your attention to a simple yet quite effective change you can bring by using an option given by the Department. Also, you have to make that decision before the 31st of January.
If your Turnover is upto Rs 5 Crores, you can opt for Quarterly Return Monthly Scheme (QRMP) instead of the Regular Monthly Scheme as per the choice given by the Department.
We suggest using the regular scheme from what we have experienced with many of our customers and associates.
These are the top reasons:
You have to give the details of the sales every month either in GSTR 1 and Invoice Furnishing Facility (IFF), so you might as well file the Return.
You have to make Tax payments every month, whether it is the case of GSTR 3B or the PMT 06.
If you do these in the Regular scheme, you will face no reconciliation issues at the end of 3 months.
However, many businesses feel that the QRMP option is more convenient; we respect their decision and are sure that you will be making the decision considering all the factors involved in your Business.
But make sure to make the decision Today, as 31st January is the last date for making the decision and intimidating the Department.
If you have any doubts about the options given by the Department, or anything related to GST,
Contact us, and we will ensure to resolve your doubts and give a solution that makes sure you won't have to face any GST problem in the future!!!
