FIRST GST RETURNS TO BE FILED AT A GLANCE
By: – Dr. Sanjiv Agarwal
Goods and Services Tax – GST
Dated:- 26-8-2017
GST Return to be filed
Central Board of Excise and Customs (CBEC) vide Notification No. 18/2017, 19/2017, 20/2017 & 21/2017- Central Tax dated 08.08.2017 has relaxed / extended the due dates and time frame for filing GST returns for the initial two months of GST regime i.e., July, 2017 & August 2017. As a result, the GST payable will be required to be paid on the basis of Form GSTR-3B to be filed by the 20th of the succeeding month. Form GSTR-3B for July, 2017 will be filed by 20.08.2017 and for August, 2017 by 20.09.2017. However, the invoice wise details to be furnished as per GST rules in GSTR-1, GSTR-2 and GSTR-3 shall be filed later as per following schedule:
Return Form
Period /Due Date for July 2017 return
Period / Due Date for August 2017 return
GSTR-3B
20.08.2017 (extended to 25/28 August, 2017)
20.09.2017
GSTR-1
01.09.2017 to 05.09.2017
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
Notification No. 18/2017-CT dated 08.08.2017]
Sl. No.
Month
Time period for filing of details of outward supplies in FORM GSTR-1
(1)
(2)
(3)
1
July, 2017
1st to 5th September, 2017
2
August, 2017
16th to 20th September, 2017.
Time limit for filing GSTR-2 [Notification No. 19/2017-CT dated 08.08.2017]
Sl. No.
Month
Time period for filing of details of inward supplies in FORM GSTR-2
(1)
(2)
(3)
1.
July, 2017
6thto 10th September, 2017
2.
August, 2017
21stto 25thSeptember, 2017.
Time limit for filing GSTR-3 [Notification No. 20/2017-CT dated 08.08.2017]
Serial Number
Month
Time period for filing of details in FORM GSTR-3
(1)
(2)
(3)
1.
July, 2017
11th to 15th September, 2017
2.
August, 2017
26th to 30th September, 2017.
GSTR-3B Return
What is GSTR-3B ?
GSTR-3B is a simple return form introduced by the CBEC for the month of July and August. One must file a separate GSTR-3B for each GSTIN number. No need to provide invoice level information in this
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
* Summary of payment of Tax.
* Summary of TDS / TCS credit.
How to file GST R-3B Return?
* After login, select Return Dashboard
* Select financial year 2017-18 and month July. Click search and select GSTR-3B
* Declare your liabilities and ITC claims 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 Form TRANS-1 and Form 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 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 thi
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
ITC utilizations, the system checks the prioritization rules viz. IGST Credit has to be first utilized for paying IGST liability and remaining for CGST liability and thereafter SGST liability; SGST credit has to be first used for paying SGST liability and then IGST liability; CGST Credit has to be 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
Consequences of Non-filing:
No late fees and / or penalty may be levied for the interim period as clarified by CBEC it its Press release dat
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =