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All you should know while filing GSTR - 3B Return

Goods and Services Tax - GST - By: - Ravi Kumar Somani - Dated:- 18-8-2017 Last Replied Date:- 19-8-2017 - Filing of GSTR-3B return is the first formal communication of business transactions with the government machinery in the GST era. It holds lot of importance especially in the current scenario where many businesses are still struggling with the basics of this new law i.e. obtaining provisional id s, issues in logins, interpretation issues in law, dealing with the procedural aspects and many .....

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in detail, we would first take a quick look at the legal provision of the law which requires a person to file this form. As per Rule 61(5) of GST rule, if time limit for furnishing of details in FORM GSTR-1 and FORM GSTR-2 has been extended and the circumstances so warrant, then such person must furnish return in FORM GSTR-3B. Therefore, GSTR 3B is a nothing but a simplified summary return and the purpose of the return is for taxpayers to declare their summary GST liabilities for the tax period .....

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would first take a look at few important points in this regard: GSTR 3B needs to be separately filed for each GST registration number. It needs to be filed online only in the common portal i.e. www.gst.gov.in, there is no any offline utility provided which can be filled and uploaded into the system. In the post login mode, one 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 wi .....

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pay differential tax along with interest on the (differential) amount. There is no legal provision in the law through which one can claim the transitional credit in GSTR - 3B return. Therefore, closing balance of transitional credit in returns and in stock must not be considered while filing form GSTR 3B. Although, this issue is under consideration by the government based on various representations made. Refund cannot be claimed under GST-3B since invoice-wise details in form GSTR 1 must have t .....

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tax is mandatory for filing of form GSTR-3B. In other words, GSTR-3B return cannot be filed without full payment of the tax due. Having understood the basics and the requirement of the form, we shall now understand the form in detail with field-wise reporting requirement along with how data/ information must be identified, computed and assimilated by the business to ensure error free filing of this form. Below is the format of the form for quick glance. Field No. 3.1 - Details of Outward Supplie .....

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be segregated into CGST, SGST and IGST to ensure payment of correct type of tax. Following are the points that must be noted while calculating the amount of tax value and tax payable on outward supplies: Value of outward taxable supply must be calculated as under: Value of all outward taxable supply invoices issued in the month of July 2017 Add: value of taxable debit notes issued in the month of July 2017 Less: value of credit notes issued against above invoice/ debit note Add: value of advance .....

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but invoice is issued in the month of July 17, then the transaction shall be liable for service tax to the extent of advances received before July 17 and detail of such invoice to the extent of liability under service tax law should not be included here. Details of invoices raised for stock transfer of goods or cross billing for services to the another registered person of the same entity must be entered here. In other words, it shall contain the details of internal as well as external invoicing .....

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on etc. then same needs to be entered in field (d) below. There would be no bifurcation for intra state supplies, inter-state supplies, B2B supplies and B2C Supplies. All the taxable supplies would be considered in this column itself. However, for the purpose of payment of taxes, the above outward taxable supplies must be bifurcated into CGST and SGST and IGST as tax payment needs to be made accordingly. B) Outward taxable supplies (zero rated): zero rated supply means any of the following suppl .....

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filing bond or LUT. Both the categories of zero rated supplies must be mentioned here only. Calculation of tax payable on Zero rated supplies must be done in the same manner as provided in (A) above. Tax columns would be filled when the assessee is opted to pay GST for making exports/SEZ supplies. A supply which is both Nil rated and also Zero rated, then details of such supplies must be mentioned in the category of zero rated supply. For ex: Export of books would be a zero rated and also nil r .....

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exempted by way of an exemption notification issued under section 11 of the CGST act. While filling GSTR 3B return, although, the corresponding column requires the details of total taxable supplies , however, one can still put the invoice value of such exempt, nil rated supplies and the tax column can be left blank since no tax is payable on such supplies. For example: Interest earned in bank accounts is an exempt supply and details of such receipts must be entered here. D) Inward supplies (lia .....

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lied through an electronic commerce operator, then such electronic commerce operator shall be liable for GST. Liability of GST payable under reverse charge must be calculated as under: Identify the purchases made from unregistered persons to determine the reverse charge liability Segregating the above purchases into inter-state and intra state supplies; Remove the intra-state purchases of a state where there is no registration obtained; Remove the intra-state or inter-state purchases which are n .....

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tered persons; Identifying the classification code for such supplies Apply the appropriate rate of tax and compute GST payable on purchases from unregistered persons; Identify supplies notified to be taxable under reverse charge. For ex: advocates, GTA, sponsorships; Identifying the classification code for such supplies; Apply the appropriate rate of tax and compute GST payable on notified supplies under reverse charge; In case of e-commerce operator the above calculation needs to be done for sh .....

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staurants. There is a possibility that such restaurant is registered under the composition scheme of the act. Therefore, while identifying vendors under reverse charge a precaution to that extent must be taken. In earlier tax regime, service tax was payable under reverse charge only when payment was made to the vendor. In case of GST, tax under reverse charge needs to be paid at earliest of the following dates: Receipt of goods/ from vendor; Payment entry in books of accounts or debit in bank; o .....

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under reverse charge under the earlier service tax law regime like security, GTA, sponsorships etc. one has to determine the taxation of such spill over transactions as per the table below. Only the transactions that are liable for tax under GST needs to be considered and same need not be considered only based on invoicing date. Scenario Service provided Invoice raised by service provider Payment made to service provider Tax to be paid 1 In Jun 17 In Jun 17 In Jun 17 Service tax 2 In Jun 17 In .....

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d get covered here are as under: Sale of flats after issuance of the completion certificate; Sale of land; Provision of electricity; Sale of Petrol and petroleum products; Sale of alcoholic liquor for human consumption; Dealings in securities and transactions in money; Actionable claims, other than lottery, betting and gambling. In case any of the above category of supplies are made then details of the same must be reflected in this field. Field No. 3.2: Details of inter-State supplies made to u .....

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f such supplies must not be disclosed here. Therefore, in case of all inter-state supplies, one has to do the following activities to identify the above: Identify place of supply. If location of supplier and the place of supply are in two different states; Obtain registration no. to verify if the recipient is registered under GST; If yes, check if the person is registered under the composition scheme; Check if he is a Unique identity number holder being an embassy, UN body etc.; Alternatively, a .....

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be an offence as it is merely a disclosure part and no transactions being escaped from tax net. Field No. 4: Details of eligible Input Tax Credit Amount of inward supply not to be furnished. Only the amount of tax paid on inward supplies, whether creditable or not, is required to be furnished here. These should be net off credit and debit notes. Firstly, details of all inward supplies in the month of July 2017 on which vendors have charged GST must be identified. Add: Tax payable under reverse c .....

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ributable to the month of July 2017 must be taken and balance must be carried forward to be availed in subsequent months; Less: Inward supplies of which credit is blocked u/s 17(5) or any other section. The final eligible credit must be bifurcated in CGST, SGST and IGST and same must be availed accordingly. It is important to note that compensation cess charged if any, shall also be available as credit subject to set off against only output compensation cess if any. Currently, Transition forms a .....

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and non-GST inward supplies Apart from the details of inward supplies on which credit is taken, details of inward supplies on which no GST is charged by vendors must also be submitted. Such supplies can be categorized as under: Exempt/ Nil rated inward supplies: In case of supplies on which vendor has not charged any GST as the said supply is exempt or is nil rated. For example purchase of books, milk etc. Non-GST outward supplies: Certain supplies are treated as non-GST supplies meaning thereb .....

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ingly. Field No 6: Payment of Tax In GST, each registered person is a distinct person and therefore utilization of credits between two distinct persons shall not be allowed. Same is also not available if a person has taken two separate vertical-wise registrations in the same state. Following important points must be taken care while determining the amount of tax that needs to be paid. The amount available in the electronic credit ledger i.e. input tax credit may be used for making any payment to .....

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unt remaining, if any, may be utilised towards the payment of IGST; Input tax credit of SGST shall first be utilised towards payment of SGST and the amount remaining, if any, may be utilised towards payment of IGST; Input tax credit of UTGST shall first be utilised towards payment of UTGST and the amount remaining, if any, may be utilised towards payment of IGST; CGST shall not be utilised towards payment of SGST or UTGST; and SGST or UTGST shall not be utilised towards payment of CGST. Interest .....

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