After the new biggest tax reform i.e. GST, the first monthly return post GST implementation, shall be required to be filed for the month of July by August 20, 2017. In this write-up, all about FORM GSTR-3B is being covered.

Introduction

Earlier, the form for filing monthly return was FORM GSTR-3, but later on, the time limit for filing FORM GSTR-1 & GSTR-2 has been changed for initial 2 months and accordingly the FORM GSTRR-3 has been replaced by FORM GSTR-3B.

FORM GSTR-3B shall be filed for only initial 2 months i.e. only in the month of August and September (by 20th Aug & 20th Sept respectively). October onwards, FORM GSTR-3 shall be filed for monthly return.

What is FORM GSTR-3B??

FORM GSTR-3B is a Provisional summary return that is required to be filed for initial 2 months post GST implementation.

Who are required to file??

Every registered person, be its trader or manufacturer are required to file FORM GSTR-3B.  Each manufacturer, trader, service provider who is liable to register under GST has to complete a self-assessment of his taxes and has to file form GSTR-3B.

Who are not required to file??

As per Rule 61 of CGST Rules, 2017, every registered person other than a person referred to in section 14 of the Integrated Goods and Services Tax Act, 2017 or an Input Service Distributor or a non-resident taxable person or a composite dealer or Tax deductor or tax collector are required to furnish a return.

Time for filing

  For the month of July For the month of August
FORM GSTR-3B By 20th August By 20th September

 What details are required to be furnished??

Following details are required to be furnished under FORM GSTR-3B:

Details of Outward Supplies and inward supplies liable to reverse charge

Details of Outward Supplies and inward supplies liable to reverse charge

Of the supplies shown above, details of inter-State supplies made to unregistered persons, composition taxable persons and UIN holders Details of inter-State supplies made to unregistered persons, composition taxable persons and UIN holders

 Eligible ITC  Eligible ITC

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

 Payment of tax  Payment of tax

 TDS/TCS Credit  TDS TCS Credit

There will be no late fee or penalty levied for the months of July and August. Eventually, this GSTR-3 will be matched against GSTR-3B and any difference will be refunded or will require payment as the case may be.

Conclusion

As per latest data report, over 71.30 lakh excise, service tax and VAT payers have migrated to the GSTN portal with 13 lakh fresh registrations. So, In order to reduce last moment rush, the GST council has permitted to file interim return FORM GSTR-3B, from August 5, 2017. Technically, the limit to file the provisional return for the month of August is between August 5th to August 20th  to smoothen the entire process.

References:
https://taxguru.in/goods-and-service-tax/president-assents-central-goods-services-tax-act-2017.html
https://taxguru.in/goods-and-service-tax/cgst-rules-2017-amended-upto-01072017.html

Hope this information will help you in your Professional endeavors. For further assistance/query, feel free to write to us.

Author: C S Ekta Maheshwari is the Author of this article and is Company Secretary by profession. The Author can be reached at csektamaheshwari14@gmail.com

Disclaimer: The entire contents of this article is solely for information purpose and have been prepared on the basis of relevant provisions and as per the information existing at the time of the preparation.. It doesn’t constitute professional advice or a formal recommendation. The author has undertook utmost care to disseminate the true and correct view and doesn’t accept liability for any errors or omissions. You are kindly requested to verify & confirm the updates from the genuine sources before acting on any of the information’s provided herein above.

GST rate Schedule for Goods in 2017

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21 Comments

  1. augustine CR says:

    Mam,
    we had purchased a space for hoarding with an unregistered person, but recipient pay GST, do we have right to get input tax credit or not ?

  2. Shashank Matneja says:

    Till date, no utility has been released by GST department for filing of Form GSTR-3B, only PDF of the same is available. Request to please guide on procedure for filing Form GSTR-3B.

  3. C.V.R.SARMA says:

    Under ITC, can we include the closing balance of june return also. or only the purchases made during july are to be furnished.

  4. Ramasamy says:

    Is GSTR Form 3B return utility available in GSTN portal or yet to be made available??

    We noticed that currently GSTR 1 utility alone available in GSTN portal .

  5. Krishna says:

    The Heading of the information is not correct

    The due date for filing Form GSTR -3B is August 20th 2017

    The heading shows 1 day to go

    1. Ekta Maheshwari says:

      Dear Sir,
      The heading of my article says that ‘one can file the GSTR-3B shall be between Aug 5 to Aug 20’ instead of showing as ‘due date”

    2. Ekta Maheshwari says:

      Dear Sir,
      The heading of my article says that ‘one can file the GSTR-3B between Aug 5 to Aug 20’ instead of showing as ‘due date”

  6. Dayanand Malusare says:

    Hello Ekta,

    If there is difference between GSTR 3B and GSTR 1,2,3 and differential liability comes, then interest will be payable ?

    Regards
    Dayanand Malusare

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