How to adjust GSTR-3B tax liability with ITC available
By: – CA.VINOD CHAURASIA
Goods and Services Tax – GST
Dated:- 25-8-2017<\/p>\n
Query 1: Our as our GST portal account Credit Ledger shows balance of Rs. 13,22,658.00 for the month of July and the payable as per the Liability ledger for July shows Rs. 6,06,618.00.
\nHope we need not pay anything for July. We have submitted our account but when we try to file it asks to clear the liability first for Rs. 6,06,618.00 without considering the credit of Rs. 13,22,658.00.
\nPlease help.
\nQuery 2: At the time of GSTR 3B filing We entered the Outward supplies Taxable Value and Tax Values and Inwards Supply's Tax Value. After submitted the 'Payment of Tax' c<\/p>\n
= = = = = = = =<\/p>\n
Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n d Rs. 2500 as cash. After entering the values in outward supplies in Column no 3.1 and Inward supplies in Column no 4. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n \u00e2\u00e2\u0080\u009a\u00ac\u00e2\u00e2\u0082\u00ac\u00c5\u00a1\u00c3\u00a3\u00e2\u00e2\u0080\u009a\u00ac\u00e2\u00e2\u0082\u00ac\u00c5\u00a1\u00c3\u00a3\u00e2\u00e2\u0080\u009a\u00ac\u00e2\u00e2\u0082\u00ac\u00c5\u00a1\u00c3\u00a3\u00e2\u00e2\u0080\u009a\u00ac\u00e2\u00e2\u0082\u00ac\u00c5\u00a1\u00c3\u00a3\u00e2\u00e2\u0080\u009a\u00ac\u00e2\u00e2\u0082\u00ac\u00c5\u00a1\u00c3\u00a3\u00e2\u00e2\u0080\u009a\u00ac\u00e2\u00e2\u0082\u00ac\u00c5\u00a1o = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" How to adjust GSTR-3B tax liability with ITC availableBy: – CA.VINOD CHAURASIAGoods and Services Tax – GSTDated:- 25-8-2017 Query 1: Our as our GST portal account Credit Ledger shows balance of Rs. 13,22,658.00 for the month of July and the payable as per the Liability ledger for July shows Rs. 6,06,618.00. Hope we need not pay … Continue reading “How to adjust GSTR-3B tax liability with ITC available”<\/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-7439","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/7439","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=7439"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/7439\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7439"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
For full text:-Visit the Source <\/a><\/p>\n
\nSo, we need to follow the below process:
\nAfter save and submit the return the 'Payment of Tax' Column show the liability of Rs. 40,000. But, don't be panic on seeing the value of the tax liability.
\nWe can adjust the tax liability as below:
\n *
\nTax Liability – ITC = Tax Payable
\n ⇓
\n *
\nTax payable – Tax paid in Cash = Zero (Tax Liability)
\nHow to adjust this in GSTR-3B
\nYou just open the 'Payment of Tax' box as given column 6.1 (Payment of Tax).
\n It is showing as below:
\nAfter ABC and Co, offset (adjust) the ITC available in the following way:
\nAfter Offset (adjustment) the liability is <\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\nTax
\nCentral Tax
\n1250
\n0
\n0
\n\u00c3\u00e2\u0080\u009a\u00c2\u00b0
\n0
\n0
\n0
\n0
\nState\/UT
\n1250
\n0
\n0
\n0
\n0
\n0
\n0
\n0
\nTax
\nCess
\n0
\n0
\n0
\n0
\n0
\nDocument 2
\nDescription
\n\u00c3\u0090\u00c2\u00a2\u00c3\u0090\u00c2\u00b0\u00c3\u00e2\u0080\u0098\u00e2\u00e2\u0082\u00ac\u00a6
\nPaid through ITC
\nTax\/Cess
\ntion payable Integrated Central State\/UT Cess TDS\/ICS padin Interest Late Fee
\n1
\n2
\n3
\n4
\n5
\n6
\n7
\n8
\n9
\n10
\nOther than Reverse Charges
\nIntegrated 10000 8000\u00c3\u00a3\u00e2\u00e2\u0080\u009a\u00ac\u00e2\u00e2\u0082\u00ac\u00c5\u00a1\u00c3\u00a3\u00e2\u00e2\u0080\u009a\u00ac\u00e2\u00e2\u0082\u00ac\u00c5\u00a1\u00c3\u00a3\u00e2\u00e2\u0080\u009a\u00ac\u00e2\u00e2\u0082\u00ac\u00c5\u00a1\u00c3\u00a3\u00e2\u00e2\u0080\u009a\u00ac\u00e2\u00e2\u0082\u00ac\u00c5\u00a1 2000 \u00c3\u00a3\u00e2\u00e2\u0080\u009a\u00ac\u00e2\u00e2\u0082\u00ac\u00c5\u00a1\u00c3\u00a3\u00e2\u00e2\u0080\u009a\u00ac\u00e2\u00e2\u0082\u00ac\u00c5\u00a1
\nTax
\nCentral Tax
\n15000
\n13000
\n\u00c3\u00e2\u0080\u009a\u00c2\u00b0
\n0
\n2000
\n0
\n0
\nState\/UT
\n15000
\n0
\n13000
\n\u00c3\u00e2\u0080\u009a\u00c2\u00b0
\n\u00c3\u00e2\u0080\u009a\u00c2\u00b0
\n2000
\n0
\n\u00c3\u00e2\u0080\u009a\u00c2\u00b0
\nTax
\nCess
\n\u00c3\u00e2\u0080\u009a\u00c2\u00b0
\n0
\no
\n0
\n\u00c3\u00e2\u0080\u009a\u00c2\u00b0
\nReverse Charges
\nIntegrated
\nated \u00c3\u00a3\u00e2\u00e2\u0080\u009a\u00ac\u00e2\u00e2\u0082\u00ac\u00c5\u00a1\u00c3\u00a3\u00e2\u00e2\u0080\u009a\u00ac\u00e2\u00e2\u0082\u00ac\u00c5\u00a1\u00c3\u00a3\u00e2\u00e2\u0080\u009a\u00ac\u00e2\u00e2\u0082\u00ac\u00c5\u00a1\u00c3\u00a3\u00e2\u00e2\u0080\u009a\u00ac\u00e2\u00e2\u0082\u00ac\u00c5\u00a1\u00c3\u00a3\u00e2\u00e2\u0080\u009a\u00ac\u00e2\u00e2\u0082\u00ac\u00c5\u00a1o\u00c3\u00a3\u00e2\u00e2\u0080\u009a\u00ac\u00e2\u00e2\u0082\u00ac\u00c5\u00a1\u00c3\u00a3\u00e2\u00e2\u0080\u009a\u00ac\u00e2\u00e2\u0082\u00ac\u00c5\u00a1\u00c3\u00a3\u00e2\u00e2\u0080\u009a\u00ac\u00e2\u00e2\u0082\u00ac\u00c5\u00a1
\nTax
\nCentral Tax
\nState\/UT
\n1250
\n\u00c3\u00e2\u0080\u009a\u00c2\u00b0
\n1250
\n\u00c3\u00e2\u0080\u009a\u00c2\u00b0
\n0
\nTax
\nCess
\n\u00c3\u00e2\u0080\u009a\u00c2<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n