Most Indian businesses have started complying with GST after 1st July 2017. Tax authorities had introduced a simple return form called as GSTR 3B. Filing GSTR 3B form is mandatory for all those who have registered for the Goods and Services Tax (GST). The GSTR 3B is a simple tax return form introduced by the Central Board of Excise and Customs (CBEC) for the month of July and August. The forms – GSTR-1, GSTR-2 and GSTR-3 – for the months of July and August are to be filed in the month of September. In the interim, all GST registrants have to file GSTR-3B form. It is must that you have a separate GSTR 3B file for each Goods and Services Tax Identification Number (GSTIN) you have. You can mention only total values for each field in this form; invoice level information is not required for this form.

Who should file GSTR 3B?

GSTR 3B must be filed by everyone who has registered for GST. However, individuals such as – Input Service Distributors, Composition Dealers, Suppliers of online information and database access or retrieval services (who have to pay tax themselves as per Section 14 of the IGST Act, and Non-resident taxable person – do not have to file GSTR 3B.

GSTR-3B is a monthly return to be filed by regular dealers for the period July 2017 to June 2018.

These details are further broken down into the following. For each of these you must provide, the total taxable value (total which has been invoiced). And then further break this up into IGST, CGST, SGST/UTGST and cess if any.  Do note that you do not have to provide invoice level detail here. Only the consolidated values for the month must be provided. You do not have to provide GST rate, only the total tax values.

Details of changes done in GSTR 3B filing process:

  • .FAQs and User manual are provided alongwith pop ups, to guide taxpayers while filing Form GSTR 3B.
  • Fill either CGST or SGST/UGST amount, other tax will get auto filled.
  • Form GSTR 3B can be previewed or downloaded, for cross veryfing saved details in any table(s), by Clicking PREVIEW DRAFT GSTR-3B The draft summary page of your GSTR 3B can be downloaded for review.
  • Once taxpayer proceeds to payment, the details of balance as available in cash and credit ledgers can be seen at one place.
  • Tax liabilities as declared in the return along with the credits gets updated in the ledgers and displayed in the “Tax payable” column of the payment section and can be seen while hovering on said headings of credit in the payment section.
  • System auto-populates “Tax to be paid through ITC” fields with optimum utilization amounts based on provisions of the law relating to credit utilisation. It is suggestive and tax payer may edit the ITC utilization. In case ITC utilization is changed, the cash to be paid also gets changed accordingly.
  • If available cash balance in Electronic cash ledger is sufficient to offset the liabilities, additional cash required for paying liability is displayed in the last column of the Table (Additional cash required). Taxpayer may create challan for that amount directly by clicking on the CREATE CHALLAN Once online payment is made, system will navigate back to Payments Table.
  • Click the MAKE PAYMENT/POST CREDIT TO LEDGER button to pay off the liabilities or to claim credit in case of no liabilities.
  • Click “Proceed to file” and File GSTR-3B with EVC or GSTR-3B with DSC. (“Submit” button has been removed).

Will there be invoice matching on GSTR-3B ?

Since taxpayers are not required to list invoice details on GSTR-3B, there is no process for matching invoices.

However, if the total values of purchases and sales reported on GSTR-3B don’t match the values later reported on forms GSTR-1, GSTR-2, and GSTR-3 for the corresponding months, taxpayers will be required to pay the additional GST, as well as penalties and interest.

Can GSTR-3B be revised?

No. Once filed, taxpayers cannot revise form GSTR-3B at a later stage.

What are the penalties for not filing GSTR-3B or for filing late?

Late fees for filing GSTR-3B after the due date are:

  • 50 per day of delay
  • Rs. 20 per day of delay for taxpayers having nil tax liability for the month

If the GST amount is not paid until after the due date, taxpayers are responsible for paying interest of 18 percent per annum. Interest will be calculated from the day following the due date, to the date of actual payment.

At Consultaxx, we do all kinds of gst returns starting from Rs.1500. If intrested please contact us through our e-mail or our contact no. our by visiting our office.

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