All You Need To Know About Process and Format of Filing GSTR-3B

There are various return forms available in GST to file. These forms are GSTR 1, GSTR 2, and GSTR 3. Apart from filing these forms, you will also have to point to GSTR-3b once registered under the GST regime. You will have to file GSTR3B every month.

The GST Implementation Committee of the GST Council approved an extension of the due date of filing the GSTR-3B return for September 2022. Values get auto-populated within GSTR-3B for assistance of taxpayers. Taxpayers need to ensure the appropriate values being filed within GSTR-3B in each respect. Auto-populated values could be edited through taxpayers when needed. 

It is compulsory to file GSTR 3b even if you have zero liability. You will have to include the total value of purchases and sales. 

It is a self-declared summary made by taxpayers. They will have to mention ITC claimed and net tax payable in GSTR-3b.

Did you know? Once you file GSTR 3B, you cannot revise it.

How to File GSTR-3B?

There are certain procedures for filing GST 3b returns. You will have to file the return by following these procedures.

Step1: Go to www.gst.gov.in URL. The GST Home page will be displayed. Login to the GST Portal with valid credentials. Once you visit www.gst.gov.in, the homepage of GST will appear. You must log in to the GST portal by entering valid details.

Step 2: Click upon Services > Returns > Returns Dashboard option

Step 3: The File Returns page is displayed. Select the Financial Year, Quarter and select search. 

• The File Returns page gets displayed. This page displays the due date of filing the returns, which the taxpayer needs to file (using separate tiles). In the Form GSTR-3B tile, click the PREPARE ONLINE button.
• Some questions are displayed. You need to answer all the questions to show the relevant sections of Form GSTR 3B as applicable to you. Click the NEXT button

Step 4:  To file Nil return – It can be filed by you with the following steps, if you have not made any outward supply (commonly known as sale) and have NOT received (commonly known as purchase) any goods/ services and do not have any tax liability for that tax period.

Step 5: For filing a Non-Nil return: System Generated Summary for GSTR-3B is displayed. You will have to choose GSTR 3B after completing the process. You can download the filed return and view the status of the return.

Also Read: A Complete Guide to Make an Online GST Bill Format in Word

Format to File GSTR 3B

To file GSTR 3B, you must follow a particular format. Without following this format, you can not file the form. It will also be easy for you once you know the format and details required to include while filing the form. If you want to file a GST 3b return, you must fill in the six tables. Each table requires particular details. You will have to know the details required to enter each table. The format of filing GSTR-3B has been mentioned below

Table 1: Outward Supplies and Inward Supplies

This table covers total taxable value, including intrastate and interstate. It is in combination with the tax applicable to the supplies as follows:

• Outward supplies except for Zero rates, Nil rates, and rates that have been exempted
• Nil rated and exempted outward supplies
• Zero-rated outward supplies
• Outward supplies without GST

Table 2: Interstate Supplies

In this table, you will have to cover the total taxable value, place of supply, and the IGST applicable for all interstate supplies made to

• Composition taxable
• Unregistered persons
• UIN holders

Table 3: Input Tax Credit

You will have to cover the following details:

• ITC Available: You will have to cover inward supplies where ITC was available. These are importing goods and services, supplies that have to bring a reverse charge, and supplies from ISD.
• ITC Eligible: Deduction of ITC reversed from ITC available
• Ineligible ITC: If the GST paid on inward supplies is included in the negative list will not be eligible to bring Input tax credit.

Table 4: Nil-Rated Inward Supplies

You will have to cover interstate and intrastate supplies for

• Inward supplies from composition dealers and nil-rated supplies
• Non-GST supplies

Table 5: Tax Payment

You will have to mention self-ascertained tax. You can determine the tax payable from 

• TDS/TCS
• Tax paid in cash
• Interest
• Tax payable including CGST, SGST, UTGST, IGST

Table 6: TDS and TCS

You will have to cover TDS and TCS in this table. But these are not so important as these have been put off so far. These are not applicable till further notification.

Also Read: GST benefits – 7 Ways One Must Know How GST benefits the Economy

Who Are Eligible to File GSTR 3B?

Those registered under the GST regime will have to file GSTR3B. Even if your monthly transaction is zero, you will have to file this form at regular intervals. You do not require to file GST if you are 

• Registered as a taxpayer under the composition scheme
• The person who distributes input service
• A person who supplies online information
• A non-resident of India

Penalty for the Taxpayers

It will help if you stay updated with the new rules formulated from time to time to get the news of due dates. Since the date of filing GSTR-3b has been revised many times, you will have to be aware of these dates so that you do not skip filing the form. Otherwise, the tax authority will impose penalties if you file the form after the due date.

If you file GSTR 3B after the due date for GSTR 3b, you will have to pay an additional fee. You will have to pay ₹ 50 for the delay per day. You will be required to pay ₹20 for each day’s delay if you have zero monthly tax liability. You may also have to pay the interest at 18% per annum, payable on an outstanding tax. You will be liable to pay 100% interest if you continuously fail to file within the due date. Therefore, you should be very careful regarding the due date.

Even if you paid the tax within the deadline but filed GSTR3B after the deadline, you will have to pay both the fine and the interest. Although you file GSTR-1 quarterly, you will still have to pay tax and GSTR-3B.

Differences Between GSTR-1 and GSTR-3B 

GSTR-1 can be differentiated from GSTR-3B in some cases, which have been mentioned below in the table:

Requirement of Reconciliation between GSTR-1 and GSTR-3B

The reconciliation between GSTR-1 and GSTR-3B is important for the following reasons.

• To ensure the absence of duplicacy and omission of invoices
• To know the accurate amount of tax that is payable during the specified period
• Helps to identify an error in the integrated tax at the time of filing GSTR-3B

Process of calculating GST

Since GST combines all taxes, you will have to face challenges while calculating GST manually. You must follow a list of charges, including reverse and inter-state sales charges, besides eligible and non-eligible ITC. Therefore, the amount you require to pay as GST is the total amount of reverse charge, inward and outward supplies. The total amount is calculated each month, and you must file it in the GSTR-3B form. After that, you will have to pay within the due date.

Role of GST

Since GST covers several taxes into one tax, it minimizes the surge of taxes on your revenue. Thus it has helped you to save up to 32% of the income you would have to pay under the earlier tax regime. The introduction of GST has increased the ease of doing business. It has also made the whole tax-paying system easy and transparent. GST has also played an essential role in making the Indian goods and services demand in the international market. It has also helped India grab the opportunity of doing business in the global market. Every taxpayer is responsible for paying the tax within the due date to avoid penalties imposed by the tax authority.

Also Read: GSTN – Know about the Goods and Service Tax Network in India

Conclusion:

Every individual or business registered under the GST regime must file GSTR-3B. However, some categories mentioned above have been exempted from filing the same. If you fall under the category of who is required to file a GSTR-3B return, you must file it within the due date of the tax. Otherwise, you will have to pay the additional charges as a penalty. You may also have to pay the interest along with the penalty. Since there have been revised rules and regulations related to the due date, you should be careful while confirming the due date. 
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