Goods and Services Tax – GST – By: – Mr. M. GOVINDARAJAN – Dated:- 21-8-2017 – Rule 61 of Goods and Services Tax Rules, 2017 provides the form and manner of submission of monthly return. Rule 61(5) provides that where the time limit for furnishing of details in Form GSTR -1 under section 37 and in Form GSTR – 2 under section 38 has been extended and the circumstances so warrant, return in Form GSTR – 3B in lieu of Form GSTR – 3, may be furnished in such manner and subject to such conditions as may be notified by the Commissioner. The time limit for furnishing the monthly returns for the month of July and August has been extended by the Central Government. The Central Government amended the Rules vide Notification No. 17/2017-Central tax, dated 27.07.2017. Clause 2(v) of the Fourth Amendment Rule proposed to substitute Rule 61(5). As per the amendment Rule 61(5) provides that where the time limit for furnishing of details in Form GSTR – 1 under section 37 and in Form GSTR – 2 under sec
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amount of input tax credit in Form GSTR – 3 exceeds the amount of input tax credit in terms of Form GSTR – 3B, the additional amount shall be credited to the electronic credit ledger of the registered person. Due date Vide Notification No. 21/2017-Central Tax, dated 08.08.2017 the Commissioner, on the recommendations of the Council specified the due date for filing GSTR – 3B return for July 2017 and August 2017 as detailed below- July 2017- due date 20.08.2017; August 2017 – Due date 20.09.2017. The GSTN made GSTR – 3B return in the portal with effect from 05.08.2017. Details to be furnished The following details are to be furnished in Form GSTR – 3B- GSTIN; Legal name of the registered person; Year and month for which the return is to be filed; Details of outward supplies and inward supplies liable to reverse charge- Nature of supplies- Outward taxable supplies (other than zero rated, nil rated and exempted); Outward taxable supplies (zero rated); Other outward supplies (Nil rates, e
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ate supplies are to be furnished; Non GST supply – value of inter-State supplies and Value of Intra-State supplies are to be furnished. Payment of tax- The following details are to be furnished in respect of Integrated tax, Central tax, State/UT Tax and Cess- Tax payable; Paid through ITC- Integrated tax; Central tax; State/UT tax; Cess Tax paid by TDS/TCS; Tax/Cess paid in cash; Interest; Late fee, if any TDS/TCS credit – Details of credit in respect of integrated tax, central tax and state/UT tax for TCS and TDS are to be furnished. The return should be verified by the Authorized signatory. Note Individual entry of all bills is not required; Filing of this form is mandatory; It is not mandatory for the person who opts for composition levy; The value of taxable supplies is to be calculated as below- A = X + Y – Z + AR – AA Where A = Value of taxable supplies; X = Value of invoices; Y = Value of debit notes; Z = Value of credit notes; AR = Value of advances received for which invoices
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