Things you must be well-familiar with before filling gstr 3b

The commencement of the GST regime on July 1st, 2017 was an oddity for many IT groundworkers and Taxpayers as they were not on board for the same. Understanding the fact and scenario, the union finance minister Mr. Arun Jaitley on June 18th, 2017 made a declaration about relaxing the GST compliance in the context of GSTR filing, for the initial two months.

As a result, the filing dates of GSTR-1 and GSTR-2 was lengthened for the first two months (July and August 2017) by the government to make the GST taxation system- a seamless and ordered method along with the conceptualization of GSTR 3B via government notification.

Here We Shall Discuss GSTR 3B.

GSTR 3B must be filed by every individual who is registered for GST. However, the individuals such as - Input Service Distributors, Composition Dealers, Suppliers of online information and database access or retrieval services who pay tax themselves as per Section 14 of the IGST Act do not have to file GSTR 3B return form. Similarly, Non-resident taxable persons also do not have to file GSTR 3B. Although GSTR-3B is a monthly self-declaration and is a temporary GST return, a few points we must know about it are as follows:

A separate GSTR-3B has to be filed for each GSTIN.No two GSTIN’s can be clubbed.GSTR-3B has to file on the GST portal only http://gst.gov.inGSTR-3B needs to be filed, even if it is a nil return. Composition dealers need not file GSTR-3B. GSTR-3B is irreversible. It cannot be amended until the Government notifies it. GSTR-3B cannot be referred to as a final return.

It is simply a provisional return which is filed in a routine with GSTR-1 and 2.GSTR-3B can only be filed only after the complete payment of total tax liability or any additional tax liability arising due to any change in GSTR-1/2/3. GSTR-3B is not used for representing and using any transitional credits passed from the previous VAT/Service Tax/Excise duty. They can only be shown and used as benefits via Form TRAN-1. GSTR-3B is a simple return which constitutes only the total values of purchases, sales input tax credits and payments.invoice level information is not required for this form. GSTR-3B does not let you claim any refunds and any additional credit will go to the ITC ledger.

Input Tax Credit cannot be paid to counterbalance the amount payable on reverse charge. GSTR-3B is to be filed from the period of the registration. Therefore the registration is done in the month of August 2017. No GSTR-3B is to be filed for July 2017. One can use digital signature [DSC] or electronic verification code [EVC] for the submission of GSTR-3B. However, for companies, it is mandatory to use DSC.Part B of GSTR-3 gets auto-populated from GSTR 3.

GSTR 3B Encapsulates the Following Details.

Section 1 - Registered person’s GSTIN.

Section 2 - Registered person’s Legal name.Section 3.1 - Outward and inward supplies under reverse charge. Section 3.2 -Of the supplied mentioned in 3.1(a), details of inter-state supplies made to unregistered persons, composition taxable persons, and UIN holders.

Section 4 - Summary of eligible ITC available and the ITC to be reversed along with ITC which is not eligible, divided into IGST, CGST & SGST/UTGST and Cess.

Section 5 - Concise details about exempted, nil rated and non-GST inward supplies. Section 5.1 - Interest and late fees Section 6 - Information about payment of tax, which encompasses category based tax payable, ITC availed, TDS credit and tax paid in cash in addition to the interest and late fees (inapplicable for the first 2 returns)Section 7 - Category based summary of tax – TDS and TCS credit.

Is GSTR-3B Reversible?

GSTR-3B is irreversible and cannot be amended without government notification. After the government notification, any revision in the figures can be done via next GSTR-1/2/3 afterward.

What is the Due Date for Filing GSTR-3B?

The return filing of GSTR 3B is scheduled for 20th December 2019 for the month of November 2019 as per the defined government due dates.

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