The Goods and Services Tax Network ( GSTN ) has issued an advisory on Payment of Tax by Fixed Sum Method under QRMP Scheme.
W.e.f. 1st January, 2021, following two options are available to the Taxpayers who are under Quarterly Returns and Monthly Payment of Tax (QRMP) Scheme for tax payment for first 02 months of a quarter:
In fixed sum method, the 35% Challan can be generated by selecting the Reason For Challan>Monthly Payment for Quarterly Return> 35% Challan which is in turn calculated as per following situation:
It is to note that, for the months of Jan and Feb 2021, in Q4 of 2020-21, the auto-populated challan generated under 35% Challan would contain 100% of the tax liability discharged from Electronic Cash Ledger for the month of December 2020 (and not 35%). [Reason: Till December 2020, all taxpayers were filing GSTR-3B return on a monthly basis.]
From April 2021 onwards, the pattern as suggested at Para 2 (a) and (b) would follow.
It is noteworthy, that the taxpayers are not required to deposit any amount for the first 02 months of a quarter, if:
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