GST implementation was one of the biggest tax reform to take place in India post its independence. There were a number of returns that were introduced under the GST regime which, no guesses there, confused a lot of taxpayers as it was all new to them. GSTR-3B is the first form that is to be filed by a taxpayer who registers himself under this new regime.
In this guide by earlyGST, we will be discussing what GSTR-3B exactly is and how to file the return form.
GSTR-3B is the first return form introduced after the GST implementation. CBEC introduced this simple return form that the taxpayers have to file for July 2017 to June 2018. A taxpayer needs to file a separate GSTR-3B form for each GSTIN that he possesses. However, you don’t have to fill invoice level of information in this form. You have to provide total values for each field. All normal registered taxpayers should mandatorily file Form GSTR-3B.
It is mandatory for normal GST registrants to file form GSTR-3B. Some of the portions of GSTR-3, Part B will be populated automatically from the GSTR-3B that you have filed. You can correct your GSTR-3 form later and deposit taxes which are payable if any if there is a discrepancy found between the two.
There are some features of this form which need to be kept in mind while filing it. These features are:
Due date of filing the GSTR-3B is the same for every month. The table of the same is given below:
|Month||Date of Filing GSTR-3B|
|July 2017||20 and 28 August 2017|
|August 2017||20 September 2017|
|September 2017||20 October 2017|
|October 2017||20 November 2017|
|November 2017||20 December 2017|
|December 2017||20 January 2018|
|January 2018||20 February 2018|
|February 2018||20 March 2018|
|March 2018||20 April 2018|
|April 2018||20 May 2018|
|May 2018||20 June 2018|
|June 2018||20 July 2018|
GSTR-3B needs to be filed by every person who is registered as a normal taxable person under GST. If you have two or more GSTINs, you will be required to file separate GSTR-3B for every GSTIN.
Registered businesses have to file NIL GSTR3B, even if there are no transactions during a month (i.e., Nil GSTR 3B). There are, however, some registrants who do not have to file GSTR-3B. They are:
The GSTN has now simplified the filing the sales return from the GSTR-3B form, and the businesses will now be able to see their ITC balance on the return forms. You can now see that all the required information has been placed at a single place for the taxpayers who are filing their returns. You can see the current balance of ITC as well as cash registers at the top of the screen, and below this, the tax head wise liability, balance amount required to be paid in cash and the suggestions for utilising ITC in the best way is shown in a single view table. You can edit the suggested ITC utilisation after which the amount to be paid also changes automatically.
Also, earlier you were required to fill up the challan manually with the amount of cash to be paid which is now possible with just a click of a button. The challan is prepared with the cash amount to be paid after taking into account the balance available in the cash ledger and the suggested ITC utilisation.
earlyGST by H&R Block can help you in filing your GSTR 3B form. All you need to do is provide us with the dump of the data and rest you can be carefree about the accurate and timely filing of your GSTR-3B.
If you want to file your GSTR-3B on the GST portal, follow the steps given below
Step 1: Login to the GST Portal
Step 2: Select ‘Services’ and then select ‘Returns’ and then click on ‘Returns Dashboard’.
Step 3: When you click the ‘Returns Dashboard’, a ‘File Returns’ page can be seen. You will have to select the relevant ‘Financial Year’ and the ‘Return Filing Period’, from the drop-down list, for which you want to file the return. Click ‘Search’ button.
Step 4: You will see different types of GST Forms. On the ‘Monthly Return GSTR3B’, click the ‘Prepare Online’ button.
Step 5: You will be re-directed to the GSTR-3B form where you will have to fill out all the relevant details. Fill in the interest and late fees, if applicable, under the relevant head.
Step 6: You can either click on the ‘Save GSTR3B’ if you want to edit it later or you can click the ‘Submit’ button, once you have entered all the required details in the form.
Step 7: Once you click the ‘Submit’ button, you will receive a success message will be displayed on the top of the page. You must understand that you cannot change or revise the return once the form is submitted. The status of the GSTR-3B return will be changed from ‘Not Filed’ to ‘Submitted’.
Step 8: After the successful submission of GSTR-3B form, you will notice that the ‘Payment of Tax’ head has been enabled. You can then pay the taxes and offset the tax liability. After you click the ‘Offset Liability’ button you will receive a pop-up message where you will have to click ‘OK’.
Step 9: After you have completed the process of paying taxes and offsetting the tax liability, you will have to select the checkbox for declaration and from the ‘Authorized Signatory’ list you will have to select the authorized signatory. Click either one of the ‘FILE GSTR-3B WITH EVC’ or ‘File GSTR3B WITH DSC’ buttons to file the return.
Step 10: You will receive a warning, click ‘Proceed’.
A message will be displayed on successful filing. Click the ‘OK’ button to affirm the same.
The status of your GSTR-3B return will be changed to ‘Filed’. If you want to view your form, click on the ‘View GSTR3B’.
Once a GSTR-3B return has been filed, there are two statuses, namely, Submitted and Filed. When the data is filled, and the return has been submitted the status of the form will be ‘submitted’ while when the liability is paid, and the return is filed, the status will be ‘filed’.
A return once submitted can be reset and re-submitted for the month of July 2017 till June 2018.
Though the government has waived off the late fee on filing return form GSTR-3B after the due date for the month of July 2017-September 2017, The government had earlier announced a late fee of INR 100 for non-filing of GSTR-3B and an interest at 18 percent per annum is payable, to be calculated by the taxpayer on the outstanding tax amount to be paid.
Now until June 2018, the late fee for regular return is Rs 50 per day of delay, and for NIL return it is Rs 20 per day of delay.
The period will start from the next day of the due date of filing the return to the date of payment.
Our experts at earlyGST can help you file all your GST returns and help you with GST compliance. Get your GST returns filed now!