Discuss briefly the salient features of Quarterly Return Monthly Payment (QRMP) scheme under GST.

Quarterly Return Monthly Payment (QRMP) Scheme To help the small tax payers whose aggregate annual turnover is up to ₹ 5 crore in the preceding financial year 2019-20. CBIC has launched Quarterly Return Monthly Payment (QRMP) scheme under GST. This scheme allows the taxpayers to file form GSTR-3B on a quarterly basis and pay tax every month. This is an optional scheme. Registered person opting for the scheme would be required to furnish the details of outward supply in FORM GSTR-1 quarterly as per Rule 59 of the GST Rules. At the same time, the tax payer has been given a facility to upload their tax invoices on monthly basis on Invoice Furnishing Facility available on GSTN Portal.