GSTR-3B : Return Filing, Format, Eligibility and Rules

Most Indian organizations have begun complying with GST after first July 2017. Presently, invoices and bills are being brought up in the GST format. After the underlying glitches in filling monthly returns, the regime has taken a way to simplify GST Return Filing.

What is GSTR 3B? 

Tax authorities had presented a basic return form called as GSTR-3B. GSTR-3B is a monthly self-statement that must be filled by a registered dealer from July 2017 till March 2018. Each registered taxpayer (Except for composition scheme) needs to document a different GSTR 3B for each GSTIN they have.

Who should record GSTR 3B? 

Each person who has under GST needs to file GSTR-3B return. However, you have various GSTNs, isolate GSTR-3B should be filed for each GSTN.
Regardless of whether there are no exchanges amid the month, registered organizations still need to file NIL GSTR-3B.
Following registrants don't need to record GSTR-3B: 
  • Input Service Distributors 
  • Organizations registered under GST Composition Scheme 
  • Suppliers of online data and database access or recovery services (OIDAR), who need to pay to impose themselves. 
  • Non-resident taxable person 

Why is it essential to file GSTR 3B? 

Since GSTR 3B is impermanent in nature, a few organizations may imagine that it isn't so much that imperative. In any case, you should know following things:
  • Not filing GSTR-3B may invite the penalty of 18% every year 
  • GSTR 3B is required for preparation of filing further GST returns. 
  • Same data can be utilized to document GSTR1. 

The procedure of GSTR-3B Filling Simplified 

GSTN-3B application has been ultimately improved by the GSTN of the last Wednesday. It is now easy to use, however, there are a few signs that it might be utilized after the 31s walk. Remembering the issues looked by people in general previously, there are a few changes done to adjust the filling for the simple utilize. This is the critical advance as it makes the framework less inflexible and decreases the chance of coincidental blunders.
GSTN has rolled out after key improvements in GSTR-3B return documenting structure, said by the PWC partner:
Tax Payment: In the revised variant of the shape, general society can see whether the duty obligation is being paid with trade or credit in tax liability, before presenting the form. Be that as it may, in the prior filing, a citizen was required to Submit the arrival to find out the expense obligation sum. After accommodation, no progressions were permitted.
Challan Generation: Now the challan gets readied with cash amount required to be paid subsequent to consider the balance available in cash ledger and recommended usage of ITC (Income Tax Credit) in the table, with a click of a button. Prior, the challan must be manually filed with the amount to be paid in cash. Be that as it may, the citizens can influence the version in the credit to add up to be used and not to utilize the credit sum filled by the system.
Download Facility of Draft Return: Earlier, there was no downloading alternative to save details for offline re-checking. But now there is another choice accessible for open comfort where drafts return can be downloaded at any phase to verify the save details offline.
Auto-fill of Tax Amount: This progression is taken to spare the time and reduce the errors as the taxpayer now either need to fill CGST or SGCT/UTGCT, another tax amount will be auto-filled manually.

Who all don't need to submit GSTR 3B return shape? 

  • (ISD) input benefit merchant 
  • Piece provider 
  • TDS deductor 
  • TCS authority 
  • OIDAR (online data information access and recovery) 

Late Fee and Penalty 

Filing GSTR-3B is compulsory notwithstanding for nill returns. Late Fee for filing GSTR-3B after the due date is as per the following:
  • Rs. 50 every day of postponement 
  • Rs. 20 every day of postponement for citizens having Nil impose an obligation for the month 
Interest @ 18% for per annum is payable on the measure of remarkable tax to be paid.
***Late fee for July, August, and September has been postponed

Deadlines for GSTR 3B Filing for January 2018 to March 2018:

Return FormFebruary 2018March 2018April 2018 (Revised)May 2018
GSTR 3B20th March 201820th April 201822th May 2018 20th June 2018
Note:  The GST council has decided in the 27th meeting that GSTR-3B filing to be continued for further 6 months.

10 Important Points About GSTR-3B 

Before we take a more profound jump and comprehend this form, let's first investigate a couple of vital points that you should know:

  1. GSTR 3B should be independently petitioned for each GST enrollment number. 
  2. It should be documented online just in the regular gateway i.e., there is no any offline utility gave which can be filled and transferred into the system. In the post-login mode, one can get to it by going to Services > Returns > Returns Dashboard. In the wake of choosing the budgetary year and assessment period, GSTR 3B, (if applicable), in the given time frame. 
  3. It is should have been filed even if it is a nil return. 
  4. Once filed, the form should be last and there is no provision for amendment of the arrival once filed. Any correction must be done through while recording of GSTR - 1, GSTR - 2, GSTR - 3. 
  5. Upon generation of GSTR 3, if real liabilities are unique in relation to those proclaimed in GSTR 3B, the framework will refresh the delta (distinction) between GSTR 3B and GSTR 3 consequently. In the event of an upward update of liabilities, one will be obligated to pay differential tax along with interest on the (differential) amount. 
  6. There is no legitimate arrangement in the law through which one can guarantee the transitional credit in GSTR – 3B return. Along these lines, shutting parity of transitional credit in returns and in stock must not be considered while documenting structure GSTR 3B. 
  7. Discount can't be asserted under GST-3B since receipt insightful points of interest in shape GSTR 1 must be submitted for the coordinating of solicitations and for the handling of the discount guarantee. 
  8. All relocated citizens need to outfit all the data required under REG-26 in order to record GSTR-3B. Along these lines, if the points of interest of enrolment for enlistment are not completely or appropriately submitted, at that point such individual will be unable to document the GSTR-3B return. 
  9. Creation Dealers are not required to document GSTR-3B. They will be required to document quarterly return as it were. 
  10. If there is any tax payable then installment of such tax is required for documenting of form GSTR-3B. As such, GSTR-3B return can't be documented without a full installment of the tax due.

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