The GST Quarterly Return filing and Monthly Payment of taxes (QRMP) scheme came into effect from January 1, 2021, onwards.
The GST QRMP scheme is aimed to simplify compliance for small taxpayers with a turnover of less than Rs 5 crore.
It allows the taxpayers to file GSTR-3B & GSTR 1 on a quarterly basis and pay tax every month.
The last date to Opt-In or Opt-Out of the QRMP scheme for Q1 of FY 2021-22 i.e. April to June 2021, 30th April 2021.
QRMP Scheme is introduced to reduce tax compliance burden. But GST has to be calculated and paid every month. You can file GST Returns on quarterly basis.
You can reduce your tax compliance burden if you opt for QRMP scheme than regular scheme. Under QRMP scheme you can file both GSTR 3B and GSTR 1 on quarterly basis.