GSTR 3B Return Filing- What is GSTR 3B? and How to file?

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A monthly authentication report of GSTR 3B Return Filing to be filed with GSTR 1 and GSTR 2 return forms by a registered GST merchant. GSTR 3B Return Filing is a simple return report that summarizes a tax period’s GST responsibilities.

Under Section 39 of the 2017 Central Goods and Services Tax Act, every taxpayer having GST Registration must submit an online monthly return. In this return, the details such as products or services delivered inside and out, the input tax credit, taxes owing, the tax payable, etc. must be disclosed. Some types of registered taxpayers must however provide the aforementioned quarterly return.

Rule 61 of the CGST Rules of 2017 provides for Form GSTR 3B to be filed, whether monthly or quarterly, by a registrant, as appropriate.

Differences among GSTR-3b, GSTR-2A, and GSTR-1

The taxpayer having GST Registration must file Form GSTR 3B by the 20th of the next month or the 22nd/24th of the month after the quarter ends. Input tax credit (ITC) is available to taxpayers depending on the information provided in Table 4 of Form GSTR 3B.

Form GSTR 2A is a self-populated form of GST Return Filing developed by the receiver’s login, which covers all outer supplies disclosed by their suppliers (form GSTR 1).

When GSTR 1 is disclosed by the supplier in a specific month, GSTR 2B and GSTR 2A from the recipient record the details. The GSTR 2 form has not been submitted but it is still required to balance the ITC claimed in GSTR 3B and GSTR 2A form, following the GST structure. Consequently, the amount of ITC available must correspond with regular tax data given in Form GSTR 2B together with GSTR 2A.

GSTR 1 is a monthly or quarterly report by taxpayers, which they submit, including their tax liability, to reveal information about their outbound supplies for the month. Details of the invoices should be uploaded here so that every transaction is monitored by the government. This provides a basis for accepting the same supply and receiving the eligible credit for input tax.

Is the invoice similarity measure going to be included in GSTR 3B?

There is no method for matching invoices because taxpayers are not obligated to enter invoice details on GSTR 3B.

Taxpayers will have to pay additional GST, as well as fines and interest if the purchase and sale prices stated in GSTR 3B do not match the prices reported later on the GSTR-1, GSTR-2, and GSTR-3 for the relevant months.

What is the Due Date to file GSTR 3b?

  • The normal taxpayers who have a turnover of more than 5 crore rupees can file a monthly GSTR3B by the 20th of the succeeding month.
  • The small taxpayers who are not opting for the QRMP scheme but the turnover are below 5 Crore rupees, can file monthly GSTR 3B by the 20th of the succeeding month.
  • However, small taxpayers who are opting for the QRMP scheme and the turnover is up to 5 crore rupees, can file a quarterly GSTR 3B by the 22nd of the month seceding that quarter.
  • The small taxpayers who are opting for a state-wise QRMP scheme and the turnover are up to 5 crore rupees, can file the quarterly GSTR 3B returns by the due date of the 24th of the succeeding such quarter.

Important things to remember are as follows:

  1. Taxpayers having GST Registration are required to pay their taxes by the deadline and to fill the form GSTR 3B.
  2. Late submission of GSTR 3B results in a late fee and interest of 18% per year.
  3. Both late penalties and interest will be charged if the tax is paid on time but the GSTR 3B is filed after the deadline.
  4. Taxpayers who file quarterly GSTR 1 reports (including those who do not use the QRMP Scheme) must still pay tax and file GSTR 3B every month.

Who is liable to file GSTR 3B?

Except for the following individuals, everyone who has the GST Registration under the GST legislation is obliged to file Form GSTR 3B:

  •       Those who have enrolled in the Composition Scheme.
  •       Distributor of Input Services.
  •       Taxable Person who is not a resident of the other countries.
  •       A person who is required to deduct tax at the source.
  •       A person who is responsible for collecting tax at the source.
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Filing criteria for GSTR 3B

Any company that is responsible for submitting monthly returns GSTR-1, GSTR-2, and GSTR-3 should submit the GSTR 3B form.

The GSTN site allows taxpayers to rapidly submit the GSTR 3B form online. GST Return Filing can be paid in person or online using challans.

To confirm the return, taxpayers will require an EVC (electronic verification code) or a digital signature certificate from the signed phone (of class 2 or higher). For GST Return Filing, the taxpayers can also utilize an e-sign based on their Aadhaar card.

How to fill up Form GSTR 3B?

  1. Upon logging on to the GST Common Portal, the registered individual must complete the following procedures to file Form GSTR 3B:
  2. Under the ‘Returns Dashboard,’ select the time for the return to be filed.
  3. Click on “Return GSTR 3B Monthly”.
  4. Fill in the blanks on Form GSTR 3B with the necessary information.
  5. Debit the computerized cash/credit ledger to discharge the debt for tax, interest, penalty, fees, or any other sum due.
  6. Use an EVC (electronic verification code) or a DSC (digital signature certificate of class 2 or higher) to verify the return.
  7. A success message will appear after verification, along with the Acknowledgement Reference Number.

What will be the late fee of Form GSTR 3B?

There is a late fee and interest if the taxpayer files Form GSTR 3B overdue after having a GST Registration. For submitting the return after the due date, there is a late fee of Rs. 50 per day (Rs. 20 if there is no liability).

If GST dues are not paid by the due date, interest at the rate of 18 percent per annum will be charged on the amount of unpaid tax.

GSTR-1 Return Filing – What is GSTR 1 & How to File GSTR-1?

Moreover, If you want any other guidance related to GST Registration, GST Return Filing please feel free to talk to our business advisors at 8881-069-069.

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