Goods and Services Tax – GST – By: – VINOD CHAURASIA – Dated:- 18-8-2017 Last Replied Date:- 20-8-2017 – All about GSTR-3B Introduction: This article discusses in detail about GSTR- 3B, its related aspects & its filling process. For months of July and August GSTR1 and GSTR2 are not to be filed and thus GSTR3 will not be formed because it is the auto-populated form and thus GSTR-3B comes into scenario. So, GSTR-3B has to be filed in lieu of GSTR3 for the months of July and August as below: For the month of July 2017 – To be submitted by Aug 20th , 2017; and For the month of August 2017 – To be submitted by Sept 20th It is Mandatory to file GSTR-3B and there is no exemption from filing GSTR-3B even if you have not carried on any business in the month of July 2017. NIL GSTR-3B is also to be filed mandatorily. GSTR-3B is the provisional return for the month of July 2017. Therefore all dealers who are required to file monthly returns under the GST Regime are required to file GSTR-3B. C
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iling GSTR-3B is that the transitional credits available from the previous VAT/Service Tax/Excise regimes will not be available for credit and use in GSTR-3B. Any such credits have to be shown by filing form TRAN-1 and will be available for use only after filing TRAN-1. GSTR-3B is to be filed from the period from which the registration is taken by the supplier. Therefore, if you have taken registration in the month of August 2017 the option for filing GSTR-3B for July 2017 will not be available and the no GSTR-3B is to be filed for July 2017. GSTR-3B is to be filed through online mode on the GST Portal gst.gov.in Following details are to be shown in the return GSTR-3B. GSTIN number of Registered Person Legal name of Registered Person Summary of Outward Supply & Inward Supply under Reverse Charge Bifurcation of Inter-state outward supplies as follows: To unregistered Person To Composite taxable Person To UIN Holders 5. Summary of eligible ITC available and the ITC to be reversed and
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l signatures or Electronic verification code except for Companies where it has to be filed by digital signatures. GSTR-3B is a simplified return where only total figures of purchases, sales input tax credits and payments are to be entered. Individual entries for each sale invoice are not to be entered in this return. Data in GSTR-3B has to be provided in a consolidated manner i.e. the consolidated amount in respect of information asked has to be furnished. So, taxpayer will be required to consolidate their sales and purchase data for the month for the purpose of filing GSTR-3B. GSTR3B is the consolidated return form being filed for temporary purpose and proper returns has to be filed for both the months. So, GSTR1, GSTR2 and GSTR3 for the month of July and August have to be filed in September. In GSTR-3B, any amendment in invoice issued has to be adjusted against the invoice amount and the net adjusted amount has to be shown and no amendment will be shown separately. In GSTR-3B data ha
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s in Section 3.1 and 4 respectively by clicking on the tiles and furnishing the required information. Transitional ITC cannot be claimed in GSTR 3B. It can be claimed only through TRANS 1 and TRANS 2. Enter details of interest, if payable, in Section 5.1. Late fee will be computed by the system Click on Save GSTR-3B button. After you save the data, Submit button will get enabled. Please note that after submit, no modification is possible. Hence ensure that details are filled correctly before clicking on Submit button. On clicking Submit GSTR-3B button, System will post (debit) the self-assessed liabilities including system generated late fee in Liability Register and credit the claimed ITC into ITC ledger. After this the Payment of Tax tile will be enabled, please click it and declare your payment details to pay the taxes and offset the liability. Click CHECK BALANCE button to view the balance available for credit under Integrated Tax, Central Tax, State Tax and Cess. (This includes tr
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first used for CGST liability and the remaining for IGST Liability; SGST credit cannot be used for paying CGST liability and CGST credit cannot be used for paying SGST liability Transition ITC, if available in ITC ledger, can be used for payment of liabilities of GSTR 3B Click the OFFSET LIABILITY button to pay off the liabilities Click on declaration statement Select Authorized Signatory filing the Form Click on File GSTR-3B button with DSC or EVC Message for successful filing will appear and Acknowledgement will get generated The author is a practising CA and is registered Insolvency Professional. He can be reached at cavinodchaurasia@gmail.com , Mob. +91 9953587496. – Reply By KASTURI SETHI – The Reply = Dear Chaurasia Ji, Excellent and timely article. A great services to the assessees. – Reply By NARENDRA SEKSARIA – The Reply = DEAR VINODJI- EXPLAINED IN SIMPLE-STEPWISE-MORE THAN EXCELLANT-U DESRVE ALL CREDITS INPUT CASH ETC-BENEFIT TO WE ALL-TO GOVT-NATION-PL ALWAYS SHARE REALLY
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