As a trade facilitation measure and in order to further ease the process of doing business, the GST Council in its 42nd meeting held on 05th October, 2020 had recommended that registered persons having Aggregate Annual Turnover up to Rs. 5 Cr may be allowed to furnish return on quarterly basis along with monthly payment of tax, with effect from 01.01.2021. This scheme of quarterly return filing along with monthly payment of taxes is referred to as “QRMP Scheme”.
Source Taxguru
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