QRMP Scheme
Definition
The Quarterly Return Monthly Payment scheme under GST, which lets smaller taxpayers file GSTR-1 and GSTR-3B quarterly while paying tax monthly through a simple challan. It reduces filing frequency for eligible businesses.
Common questions
Who can opt for QRMP?
Registered taxpayers below a prescribed aggregate turnover can opt in, filing returns quarterly while making monthly tax payments.
Related Terms in India GST
Invoice Furnishing Facility (IFF)
A facility under the QRMP scheme that lets quarterly filers upload their B2B invoices in the first two months of a quarter, so their buyers can see the credit sooner instead of waiting for the quarterly GSTR-1.
GST Rate Finder
A lookup that maps a good or service — usually via its HSN or SAC code — to the applicable GST rate. It helps businesses apply the correct slab on invoices and avoid under- or over-charging tax.
SAC Code
The Services Accounting Code used to classify services under GST, the services counterpart to the HSN code for goods. The correct SAC determines the GST rate and is reported on service invoices and in returns.
E-Invoice Threshold
The aggregate turnover above which B2B e-invoicing is mandatory under GST, requiring invoices to be registered on the Invoice Registration Portal to obtain an IRN. The threshold has been lowered in stages and should be checked against the current notification.
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