August 23, 2017

GST Returns

GSTR-3B
1. What is GSTR-3B?
GSTR 3B is a simplified summary return and the purpose of the return is for taxpayers to declare their summary GST liabilities for the tax period and the discharge of these liabilities in a timely manner
A normal taxpayer is required to file GSTR 1, 2, & 3 returns for every tax period. In case of extension of due dates for filing of GSTR 1 and GSTR 2, GSTR-3B needs to be filed and subsequently if there is any discrepancy between the system generated 3B and earlier filed 3B the taxpayer will have to pay additional tax, liability and other dues.

2. Who needs to file the GSTR-3B?
All normal taxpayers and casual taxpayers are required to file the GSTR-3B every time there is an extension of due dates of filing for GSTR 1 and GSTR 2.

3. Where can I file GSTR-3B?
GSTR 3B can be filed from the returns section of the GST Portal. In the post login mode, you can access it by going to Services > Returns > Returns Dashboard. After selecting the financial year and tax period, GSTR-3B, (if applicable), in the given period will be displayed.

4. By when do I need to file GSTR-3B?
Specified Due dates for filing of GSTR-3B, 1, & 2 will be notified by the Commissioner for every situation separately.

5. What is the due date for filing the GSTR-3B for the tax periods immediately after the appointed date (July and August, 2017)?
For the first two months of GST rollout (July and August, 2017), below are the notified due dates for filing of the statements.

6. Will there be any invoice matching in GSTR-3B?
No, all the details in GSTR-3B will be self declared in summary manner and the taxes will be paid based on the table 6 of GSTR-3B (refer to the Rules as available on the GST Council or CBEC website, applicable for GSTR-3B Form).

7. Will the Utilize cash/ITC functionality be available for discharging return related liabilities?
No, all the details in GSTR-3B will be declared in a consolidated manner by the taxpayer and the taxes will be paid based on the table 6 of GSTR-3B, after submitting the return (refer to the CGST/SGST Rules available on the GST council or CBEC website applicable for GSTR-3B Form).

8. What will happen if my declared liabilities in GSTR-3B are different from that of my GSTR 3 which I will file later?
Upon generation of GSTR 3, if liabilities are different from those declared in GSTR-3B, the system will update the delta (difference) between GSTR 3B and GSTR 3 automatically.
Note: In case of an upward revision of liabilities, you will be liable to pay differential tax along with interest on the (differential) amount.

9. Is filing of GSTR 3 mandatory even if there is no business in the particular tax period?
Like for filing of GSTR 1, 2 and 3, GSTR-3B is also mandatory to be filed by all normal and casual tax payers, even if there is no business in the particular tax period.

10. One is required to Confirm after entering data in each section in GSTR-3B. Will the GST System save the confirmed data if a taxpayer exits without completing the form?
No, to ensure that the furnished data is saved in a partially complete GSTR-3B, a tax payer is required to click on Save GSTR-3B before closing the form.

11. I am unable to select Return Filing Period as July 2017. Why?
Check the validity of your registration in your Registration Certificate. You can file Returns for period for which Registration is effective.

12. I have already filed GSTR-3B, but now I want to make some modifications. Can I file an amendment?
GSTR-3B once filed cannot be revised. Adjustments, if any, has to be done subsequently when you file GSTR-1, 2 & 3 for the same tax period.