Register Now for filing your GSTR 3B on enComply
After the new biggest tax reform i.e. GST, the first monthly return post GST implementation, shall be required to be filed for the month of July by August 20, 2017. In this write-up, all about FORM GSTR-3B is being covered
Earlier, the form for filing monthly return was FORM GSTR-3, but later on, the time limit for filing FORM GSTR-1 & GSTR-2 has been changed for initial 2 months and accordingly the FORM GSTR-3 has been replaced by FORM GSTR-3B.
FORM GSTR-3B shall be filed for only initial 2 months i.e. only in the month of August and September (by 20th Aug & 20th Sept respectively). October onwards, FORM GSTR-3 shall be filed for monthly return.
What is FORM GSTR-3B?
FORM GSTR-3B is a Provisional summary return that is required to be filed for initial 2 months post GST implementation.
Who are required to file?
Every registered person, be its trader or manufacturer are required to file FORM GSTR-3B. Each manufacturer, trader, service provider who is liable to register under GST has to complete a self-assessment of his taxes and has to file form GSTR-3B.
Who are not required to file?
As per Rule 61 of CGST Rules, 2017, every registered person other than a person referred to in section 14 of the Integrated Goods and Services Tax Act, 2017 or an Input Service Distributor or a non-resident taxable person or a composite dealer or Tax deductor or tax collector are required to furnish a return.
Time for filing
|For the month of July||For the month of August|
|FORM GSTR-3B||By 20th August||By 20th September|
What details are required to be furnished?
Following details are required to be furnished under FORM GSTR-3B:
Details of Outward Supplies and inward supplies liable to reverse charge
|Nature of Supplies||Total Taxable Value||Integrated Tax||Central Tax||State / UT Tax||Cess|
|(a) Outward Taxable Supplies (other than Zero rated, Nil Rated Exempted)|
|(b) Outward Taxable Supplies (Zero Rated)|
|(c) Other Outward Supplies (Nil, Exempted)|
|(d) Inward Supplies (Liable to Reverse Charge)|
|(e) Non – GST Outward Supplies|
Of the supplies shown above, details of inter-State supplies made to unregistered persons, composition taxable persons and UIN holders
|Place of Supply (State/UT)||Total Taxable Value||Amount of Integrated Tax|
|Supply Made to Unregistered Persons|
|Supply made to Composition Taxable Persons|
|Supply made to UIN Holders|
|Details||Integrated Tax||Central Tax||State / UT Tax||Cess|
|(A) ITC Available (Whether in Full or Part)|
|(1) Import of Goods|
|(2) Import of Services|
|(3) Inward Supplies Liable to Reverse Charge (Other than 1 & 2 above)|
|(4) Inward Supplies from ISD|
|(5) All Other ITC|
|(B) ITC Reversed|
|(1) As per rules 42 & 43 of CGST Rules|
|(c) Net ITC available (A) – (B)|
|(D) Ineligible ITC|
|(1) As per Section 17 (5)|
Values of exempt, nil-rated and non-GST inward supplies
|Nature of Supplies||Inter-State Supplies||Intra-State Supplies|
|From a Supplier under Composition Scheme, Exempt & Nil rated Supply|
|Non GST Supply|
Payment of Tax
|Description||Tax Payable||Paid to ITC – Integrated Tax||Paid to ITC – Central Tax||Paid to ITC – State/UT Tax||Paid to ITC -
|Tax Paid – TDS/TCS||Tax/Cess paid in Cash||Interest||Late Fee|
|Details||Integrated Tax||Central Tax||State Tax|
There will be no late fee or penalty levied for the months of July and August. Eventually, this GSTR-3 will be matched against GSTR-3B and any difference will be refunded or will require payment as the case may be.
As per latest data report, over 71.30 lakh excise, service tax and VAT payers have migrated to the GSTN portal with 13 lakh fresh registrations. So, In order to reduce last moment rush, the GST council has permitted to file interim return FORM GSTR-3B, from August 5, 2017. Technically, the limit to file the provisional return for the month of August is between August 5th to August 20th to smoothen the entire process.
C S Ekta Maheshwari