Getting Ready for filing GSTR3B – (Following points to be taken care of)
GSTR3B return has to be filed mandatorily by every registered taxable person.
Even when you have not made any transactions during the tax period (i.e., taxable outward supplies and inward Supplies) still you have to file a Nil return and there is no exemption from this.
Filing GSTR3B is more of a self declaration return and the taxpayer is not required to provide invoice level information in this form. Only total values for each field have to be entered which contains summary of information about sale and purchase, available input tax credit, tax payable, and tax paid.
All of the input tax credit availed and utilised by you will be posted in the ITC ledger and Unutilized ITC (if any after set-off) can be used in subsequent months
While filling GSTR 3B, don’t forget to Save partially filled form by clicking save GSTR 3B button
No modification is allowed once you press the submit button so utmost care should be taken in checking the details filled by you and only then press submit button
In case if you have availed transitional credit by filing TRAN 1 then click Check balance button to view the balance available for credit under integrated tax, Central tax, State tax and Cess ( including transitional credit also)
Due dates to file GSTR3B : GSTR3B is a temporary return and has to be filed only for the months of July and August on or before 20th of the month following the month for which tax returns are to be filed. There were lots of extension in these due dates vide various notifications issued in this regard.. These were as follows
Those not availing ITC in TRAN-1 - 25th of August 2017
Those availing input tax credit in TRAN-1 . - 28th of August 2017
However, GST due must be paid by them on 25th August 2017. Any shortfall of tax can be paid with 18% penalty by 28th August 2017 but later this penalty was also relaxed by government by issuing a notification in this regard
For the month of Aug 2017
For Tax period of Aug 2017 - 20th of September 17
From September – December 2017** -. 20th of the following month for each of the tax period from (September – December)
[**Recent update - decided in the 21st GST council meeting held at Hyderabad on 09 Sep 2017. ]
Step by Step guide to the gateway of GSTR3B : GSTR3B format is a ladder which has 6 climbing steps to reach the destination (GSTR Return filing compliance) starting from the first step which discloses about the summarized details of tax liability of your outward supplies till the destination point where in summarized details of taxes paid by you in cash, through input tax credit available on your inward supplies. Well there are so many articles on GSTR3B introducing you with the form GSTR3B but in this article we have tried to act as your guide through your GSTR3B journey.
First step of the ladder (GSTR3B) :
Part – A : Here the government is asking you to provide summarized details of your tax liability on your outward supplies made to a registered taxable (B2B invoices) and as well as supplies made to unregistered dealers, composition taxable persons and UIN holders.
Guidance Notes :
Under Total Taxable Value column fill the value which is before calculating GST
If you are business is engaged in inter -state supplies then fill your tax amount summary under IGST column and if your business is engaged in intrastate supplies then record your tax summary in columns CGST and SGST respectively.
Take care when you fill up your summary of tax liabilities regarding exempt, nil- rated, zero rated supplies, supplies attracting reverse charge mechanism and fill them only against the respective rows allotted for them individually.
For Supplies attracting reverse charge mechanism first you access the liability under this segment of GSTR3B and fill up the tax summary on all those supplies firstly and then pay for the tax part on such supplies by generating challan and uploading such details in Step 6 and only after such payment take the credit of all such taxes paid on supplies attracting reverse charge by filing the details in step 4 or Segment 4 of the return GSTR3B which we will be discussing on reaching Step No.4 of this ladder.
Don’t mislead yourself in case if you are engaged in business of those goods or services which are kept out of GST regime (i.e., , Non GST supplies) because you are asked here to detail on those supplies too though they are kept out of GST regime.
Some of the supplies in GST also attracts cess. Whether this should also form part of your tax summary of outward supplies? Yes, because there is a separate column under this segment asking you to furnish such details.
Second step of the ladder (GSTR3B) :
Part – B : Here the government is asking you to fill up the tax summary of all those outward inter state supplies made to unregistered dealers, composition taxable persons and UIN holders.
Guidance Notes :
There are separate columns available for recording your tax summary with the above mentioned persons, so record such details row wise and also identify with whom the supply is made to among the above mentioned dealers and only then start recording such details
Additionally here you have to mention the place of supply in this Segment of GSTR3B without fail.
Why I have to give my summary details pertaining to my outward supplies here again where as these details have been already filed by me in Segment 1 of return GSTR3B ? First thing that has to be cleared here is that the details mentioned in this Segment will not be considered in computation of output liability, which means the summary of tax details asked to be furnished here is a part of declaration made in first segment and in any case the amount figured in here exceed the amount figured in Segment 1 of this return.
Then why such segment disclosure ? Here the government wanted to view all such B2C transactions separately because GSTR3B is a summarized return and not invoice level return. So take utmost care in checking whether the tax liability fed by you for the above mentioned supplies doesn’t exceed the amount furnished in Segment 1 of GSTR3B.
Third step of the ladder (GSTR3B) :
Part – A : Here you are asked to give the summary of the taxes paid by you on your inward supplies made during the tax period.
Guidance Notes :
Don’t even by mistake claim your credit lying on opening stock as on 01. July 2017 (i.e., your transition credit) here in GSTR3B because there is no specific Column related to transition credit and this can be only claimed by filing TRAN 1
Guidance note discussed relating to reverse charge mechanism holds good even here in this segment of GSTR3B.
Part – B : Any reversal of ITC claimed as per applicable rules will have to be declared in this segment.
Guidance Notes :
Tax Payers need not confuse the input tax credit on reverse charge mechanism with reversal of input tax credit filed in this part of GSTR3B as both the things are different. However it’s just ok to know now that under this part the ITC reversed are those which are prescribed under rules – GST
Under this part we also have row for any other ITC credit reversal, the understanding of which is open to discussion.
Only Net ITC balance available after such reversal will be carried to E credit ledger.
Fourth Step of the ladder (GSTR3B) :
Part – A : Here you have been asked to give away the value of inward supplies pertaining to supply transactions with suppliers under composition scheme, nil rated and exempt supplies and Non GST supplies made during the tax period (for both inter-state and intra-state supplies carried out by him).
Guidance Notes :
The detail to be filed here is the value alone and has to be tabulated as inter-state and intra-state wise summary.
Part – B : Here you are required to self – calculate interest liability on account of delayed payment of taxes on the due dates and late fee is auto – calculated by the system based on the date of filing and the due date for the return.
Fifth Step of the ladder (GSTR3B) : Under this section the taxpayer has to report the final tax payable by him on his taxable supplies made by him, which would match with his figures fed in his first segment of this Form. The amount to be furnished here has to be separately reported under IGST, CGST, SGST and UTGST. And also the taxpayer has to report the credits which has been availed against these. This amount is provided by you in Step 4 segment 4 of this return GSTR3B. The balance tax must be deposited by you and appears under your E cash ledger. If any interest or late fee has been deposited that must also be reported here.
Sixth step of the ladder (GSTR3B) : Here you have to key in the amount of credit received through TDS/TCS and the same would be credited to your Cash ledger. But the provisions for TDS/TCS credit have not yet been notified and this section of GSTR3B has been kept inactive and non fillable.
Why Tally ERP 9 Release 6.1 for GSTR3B : If you are using the accounting software, Tally.ERP 9 Release 6.1 then there is a good news for you , our new release to support Form GSTR-3B is available now – Download. Alternatively, click the Version and Updates section in the Information Panel of Tally.ERP 9. For its customers Tally has strived to provide print facility of GSTR3B into word document so that details could be easily provided on GSTN without any errors. GSTN may provide an offline utility along with an Excel Template to fill and file Form GSTR 3B. In case it does, then Tally ERP9 promises you for providing support for that as well. However what seems to be of more importance is that your Form GSTR 3B filed for July till December 2017, matches with the GSTR-3 generated by GSTN for the month of July till December 2017. This task of matching when left to Tally.ERP Release 6, will assure you of matching concept between your returns GSTR3B and GSTR3 as the source of data or input will be common for both these returns
Tally ERP 9 assures its users that it would walk the journey of GST along with you and ensure support in all your GST compliance requirements at every step and to keep you posted on latest enhancements as and when suggested by the Government.