VKCA GST Newsletter – November 2020

The GST department, in its efforts to simplify compliance burden of taxpayers, has decided to introduce a new system of return filing from January 2021 onwards. This is applicable to those taxpayers whose aggregate turnover in India does not exceed Rs. 5 Crores in preceding financial year and is optional to the taxpayers. This scheme is called as ‘QRMP’ or Quarterly Return and Monthly Payment