GSTR-3B date extended for those opting to avail transitional credit
By: – Bimal jain
Goods and Services Tax – GST
Dated:- 21-8-2017<\/p>\n
The GST Council had earlier decided to defer the filing of return in Form GSTR-3 and had recommended the filing of return in Form GSTR-3B for the month of July and August, 2017. Accordingly, the Central Government vide Notification No. 21\/2017-Central Tax dated August 8, 2017 had notified the last date for filing of return in Form GSTR-3B for the month of July, 2017 as August 20, 2017.
\nRecently, concerns have been raised by the trade about availability of transitional credit for discharging the tax liability for the month of July, 2017 as there was no separate column for the same in Form GSTR-3B. In this regard, the Commissioner on recommendations of the GST Council vide Notification No. 23\/2017-Central Tax dated August 17, 2017 read with Press Releases dated August 17, 2017, has specified the date and conditions for filing the return in F<\/p>\n
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Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n hed in Form GSTR-3B, exceeds the amount of tax deposited in cash as per item (i), the registered person shall pay such excess amount in cash on or before August 28, 2017 along with the applicable interest @18% calculated from the 21st day of August, 2017 till the date of such deposit. This amount will also get credited to electronic cash ledger. Steps to be followed in aforementioned Case A& C: Assessee not opting to avail transitional credit = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n ich will be available on the common portal from August 21, 2017) before filing the return in FORM GSTR-3B; = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" GSTR-3B date extended for those opting to avail transitional creditBy: – Bimal jainGoods and Services Tax – GSTDated:- 21-8-2017 The GST Council had earlier decided to defer the filing of return in Form GSTR-3 and had recommended the filing of return in Form GSTR-3B for the month of July and August, 2017. Accordingly, the Central … Continue reading “GSTR-3B date extended for those opting to avail transitional credit”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-7303","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/7303","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7303"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/7303\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7303"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7303"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7303"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\n * File the return in Form GSTR-3B on or before August 28, 2017 after discharging the tax liability by debiting the electronic credit or cash ledger.
\nC.
\nAny other registered person
\nAugust 20, 2017<\/p>\n
\nWhere registered persons planning not to avail transitional credit for discharging the tax liability for the month of July, 2017 or new registrants who do not have any transitional credit to avail, need to follow the steps as detailed below:
\n * Calculate the tax payable as per the following formula:
\n Tax payable = (Output tax liability + Tax pa<\/p>\n
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\n\tIn case the tax payable as per the return in FORM GSTR-3B is greater than the cash amount deposited as per (ii) above, deposit the balance in cash along with interest @18% calculated from August 21, 2017 till the date of such deposit. This amount will also get credited to electronic cash ledger;
\n\tFile the return in FORM GSTR-3B on or before August 28, 2017 after discharging the tax liability by debiting the electronic credit or cash ledger
\nPlease click below for details:
\nNotification-http:\/\/www.cbec.gov.in\/resources\/\/htdocs-cbec\/gst\/notfctn-23-central-tax-english.pdf
\nPress Release-http:\/\/www.cbec.gov.in\/resources\/\/htdocs-cbec\/press-release\/press-note-gstr-form-3B.pdf
\nPress Release-http:\/\/www.cbec.gov.in\/resources\/\/htdocs-cbec\/press-release\/press-release-gst-transitional-credit.pdf
\nHope the information will assist you in your Professional endeavours. In case of any query\/ i<\/p>\n
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