Quarterly Return Monthly Payment or QRMP is a new mechanism that CBIC has rolled out for companies having an annual aggregated turnover of up to INR 5 Crores. QRMP was notified on 10th November 2020. This short article, explains how to handle the IFF (Invoice Furnishing Facility) for QRMP with Tally Prime.
At the moment, Tally does not directly generate a JSON file for GSTR-1 that is compatible with IFF upload. Tally will be releasing an update for the same soon. Till such time, you can use the following workaround.
To file this return, you have to make use of the GST returns offline tool version 3.0 available at on the GST portal here,
Under Quarterly Return Monthly Payment or QRMP scheme, the taxpayer has to upload B2B and CDNR tables under the IFF option on the portal at the end of the first and second months of a quarter. After the quarter is over, you have to upload all tables except B2B and CDNR for the first two months and B2B and CDNR tables for the last month of the quarter on the portal.
How to generate returns for the first two months of a quarter for QRMP?
- First, you have to go to the GSTR-1 report in Tally Prime for the particular month and prepare your return. You can read a guide to generating GSTR-1 returns in Tally Prime here. There is one small deviation from the process detailed in the article. Instead of exporting in JSON format as mentioned in the guide, you need to export in CSV format. From the files exported, you only have to consider the B2B and CDNR .csv files generated.
- Now open the GST returns offline tool that you just downloaded and select the option of quarterly filing. Then, import the .csv files for B2B and CDNR exported in the earlier step.
- Next, you need to generate a JSON file from the offline tool. You need to upload this file to the GST portal under the IFF option.
How to generate returns for the third month of a quarter for QRMP?
- Once a quarter ends, open GSTR-1 report in Tally Prime for the entire quarter and generate your return in CSV format. You have to import all the tables excluding B2B and CDNR to the offline tool and generate a JSON file. Thus, this JSON will not contain any transactions under B2B and CDNR tables. This because you have already uploaded them for the first two months of the quarter. Upload this JSON to the GST portal under GSTR-1.
- Next, again you have to access the GSTR-1 report in Tally for the last month of the quarter and generate .csv files. From all the files generated, only import B2B and CDNR tables into the offline tool. Generate the JSON file and upload it to the GST portal under GSTR-1.
- You have now prepared and uploaded to GSTN all the data required for your GSTR-1 return for the quarter as per QRMP scheme. The below example displays the steps for the quarter JFM 2021.
- Jan 2021 Month: Export .csv from GSTR-1 of January-21 and upload only B2B & CDNR tables in the IFF window
- Feb 2021 Month: Export .csv from GSTR-1 of February-21 and upload only B2B & CDNR tables in the IFF window
- Mar 2021 Month: Export .csv from GSTR-1 of March-21 and upload only B2B & CDNR tables in the IFF window. Again export .csv from GSTR-1 for JFM-21, upload all sections other than B2B & CDNR in GSTR-1
As you can see from the above article, it is pretty easy to manage IFF for Quarterly Return Monthly Payment scheme with Tally Prime. You can also contact us if you are facing any issues and we would be happy to assist you. Alternatively, you could simply drop us a message via WhatsApp by clicking here.
