Post has shared content
GST Training Program at Kochi..
Practical classes for GST filing and Registration..
Call and book your seats now
9895212229
www.pearlaccountants.org
#GST #Filing #Regist
ration #Kochi
Photo



GSTR 3B Due Date for September, 20 October 2017


Know How to File GST Return 3B What is GSTR 3B

GSTR-3B is a special tax return form introduced by the GST Council for the purpose of accepting returns from taxpayers for the first six months July to December 2017 (earlier it was only for July & August) post GST implementation.

As per standard GST rules, a registered taxpayer is required to file GSTR-1 by the 10th, GSTR-2 by the 15th and GSTR-3 by the 20th of the next month for a relevant tax period. But to address the confusion and concerns different businesses have about GST, the Council has decided to relax the return filing timeline for the first six months. The new revised tax filing dates for the months of August to December 2017 are given below.

GST Council has given relief to tax payers as they have to file only GSTR-3B Form for the July to December month tax. Below are the last dates for August-December 2017 months for GSTR 3B:


Last Date for filing return in GSTR 3B

Month Due Dates
July 2017 28th August 2017
August 2017 20th September 2017
September 2017 20th October 2017
October 2017 20th November 2017
November 2017 20th December 2017
December 2017 20th January 2018



Note: The last date for filling the “GSTR-3B” for August is ended. However, this return can still be filled with late fees. There are indications that the government can also end the penalty on GSTR-3B in the month of August like July. The penalty amount may be Rs 100 to 300 per day, which can be up to a maximum of Rs 5000.

What is GSTR 3B Form?

A new GSTR-3B form has been introduced by the government specifically for this purpose. For the first six months, the GSTR-3B is to be used to file tax returns. Taxpayers are still required to file GSTR-1, GSTR-2 and GSTR-3 forms. Once the GSTR-1 form is filed, the details will be auto populated in GSTR-2 and GSTR-3 accordingly.



The information provided in GSTR-3 will be matched against that of GSTR-3B form to cross-check for any difference in tax amount. The difference will be refunded and the pending amount needs to be paid.

GSTR-3B is to be filed latest by 20th of the next month for a tax period.

How to file details in GSTR-3B?
GSTR-3B will be the first tax return form to be filed under GST. The form consists of 6 tables which will include the details of outward and inward supplies, ITC details, and tax payment details.

Table 1 2: The taxpayer needs to enter his/her GSTIN number and legal name (or business name) in the respective columns.

Table 3: This will contain the details of taxable supplies liable to reverse charge. It is further divided into following two heads.

Table 3.1 Details of outward supplies and inward supplies liable to reverse charge.

GSTR 3B Table 3.1

This will include the total tax details of both the intrastate and interstate supplies of the following nature:

Outward Supplies of goods/services which are not exempted, zero rated or nil rated.
Outward Supplies of commodities which are zero rated.
Outward Supplies of Nil rated and exempted goods/services
Inward supplies on which reverse charge is liable.
Outward supplied of non-GST goods/services
Table 3.2 Of the supplies shown in 3.1 (a) above, details of Interstate supplies made to unregistered persons, composition dealer and UIN holders.

GSTR 3B Table 3.2

This table will contain the details (Place of Supply, Taxable value and IGST) of outward supplies made to an unregistered dealer, UIN holder or to a composition registered person.

Table 4 Eligible ITC

GSTR 3B Table 4

This will have the complete details of ITC available, ITC reversed, net ITC amount, and ineligible ITC. It has following parts.

ITC Available (whether in full or part): Details of all inward supplies including the imports of goods, import of services, reverse charge inward supplies, and inward supplies from Input Service Distributor (ISD), on which ITC is applicable.

ITC Reversed: Details of ITC reversed or to be reversed
Net ITC available based on information provided in (A) and (B)
It will contain the details of GST paid on ITC ineligible inward supplies.

Table 5 Values of exempt, nil-rated and non-GST inward supplies.

GSTR 3B Table 5

This will include the details of inward supplies made from a composition registered supplier, exempt and nil rated inward supplies, and details of Non-GST inward supplies.

Table 6 Payment of Tax

Table 6.1 based on the inward and outward supply details and ITC details mentioned in the tables above, you need to self-ascertain tax payable amount and enter the details in this table. The details of tax paid through ITC, in cash, and other details will be filled accordingly.


Table 6.2 However, TDS and TCS are not applicable as per GST provisions, the taxpayers are still required to enter the information of TDS (Tax withheld by the Government establishment) and TCS (Tax withheld by E-commerce operator) in this table.

Wait while more posts are being loaded