The Finance Ministry on its 42nd Meet held on 5th October 2020 proposed new GST Return Filing System for the small taxpayers having aggregate annual turnover (hereinafter AATO) up to Rs 5 crore in the preceding FY i.e. 2019-20, with effect from January 01, 2021.  

 The main pursuit behind was to provide ease of doing business & as a trade facilitation measure. The Government main agenda behind introducing the QRMP scheme was to reduce the monthly return filing burden on the small taxpayers. Having said that, the AATO up to Rs 5 Crore is allowed to furnish GSTR-3B ORMP scheme, from January 01, 2021, onwards.

Any registered individual who is eligible to file a return in Form GSTR-3B, and who has an aggregate turnover of up to Rs 5 crore in the preceding financial year, is eligible for the QRMP (Quarterly Return Filing and Monthly Payment of Taxes) Scheme. Although, the aggregate annual turnover for preceding financial year shall be calculated in the common portal taking into account the details are being furnished in the returns by the taxpayer for the tax periods in the preceding financial year.

To exercise this option, the registered person must have furnished the last return, as due on the date of exercising such an option. Registered persons are not required to exercise the option every quarter. Where such an option has been exercised once, they shall continue to furnish the return as per the selected option for future tax periods unless they revise the said option.

According to the CBIC officials that the above default option has been provided for the convenience of registered persons based on their anticipated behavior. Taxpayers would be wondering what other surprises CBIC has in store for them in future if they draft laws on the anticipated behavior of taxpayers.