GST return is to be filed irrespective of whether a transaction has been made or not. In a mont...
With the introduction of GST in 2017, various GST forms have also been introduced. GST Return form has to be filed by all registered individuals, traders, organizations etc. Details regarding the sales and purchase of goods and services and the tax paid/collected are provided by filing GSTR. On the basis of this, the tax authority computes the tax liability. Among all GSTR forms, filing form GSTR 3B is one of the most important one. Let’s discuss about it.
It is a monthly self-declaration which is required to be filed by a registered GST dealer with GSTR 1 and 2 return form. GSTR 3B declares summary GST liabilities for a tax period.
Some important points to be noted while filing Form GSTR 3B are as follows:
Every taxpayer, including the ones with nil return, should file this return. However, the following registrants are not required to file GSTR 3B:
The procedure to file this form is as follows:
This form is divided into the following sections:
Questionnaire related to the business activities and tax liabilities for the present tax period.
A box displaying GSTR related information, including Return status.
A box to fill in details of tax on outward and inward supplies liable to reverse charge.
Interstate supplies (It involves supplies made to unregistered persons, composition taxable persons, UIN holders.)
Details related to eligible Input Tax Credit.
Exempt, nil & non-GST inward supplies.
Interest and Late Fee.
The new due date for filing this form is in staggered form-
Class of registered persons who opted for
With principal place of business in the state/UT of
Due date from Jan, 2021 onwards
Monthly filing of GSTR 3B
All states and Union Territories
20th of the following month
Quarterly filing of GSTR 3B
Chattisgarh, MP, Gujarat, Maharashtra, Karnataka, Kerala, Goa, TN, Telangana, AP, Daman and Diu, Dadra Nagar Haveli, Andaman & Nicobar Islands, Puducherry, Lakshwadeep
22nd of the month following quarter
HP, Punjab, Uttrakhand, Haryana, UP, Rajasthan, Sikkim, Bihar, Arunachal Pradesh, Nagaland, Mizoram, Tripura, Manipur, Meghalaya, Assam, WB, Jharkhand, Orissa, J&K, Ladakh, Delhi, Chandigarh.
24th of the month following quarter
In case of non-filing or late filing of GSTR 3B, late fees and penalty shall be imposed. The late fee shall enhance day by day until it reaches the maximum limit. The fee will be added to the following months’ return. You cannot edit or proceed to file the return unless you pay the late fee.
As of now, the maximum late fee is capped at 500 rupees in case you don’t have any tax liability and at 1000 rupees in case of tax liability. However, this waiver is available only if the pending return is filed on or before the end of August 2021.
From June 2021 onwards, the late fee is levied and capped at:
If the GST dues are not paid within the due date, then interest at the rate of 18% per annum shall be payable on the amount of outstanding tax to be paid. Therefore taxpayers should pay taxes and file this form before the deadline. If the tax is paid within the due date, but the return form is filed after the deadline, then late fees and interest shall apply.
Reconciliation of Form GSTR 2A and GSTR 2B with GSTR 3B is required to avoid getting notices because of excess input tax credit claims in GSTR 3B and to be informed if any real input tax credit is missed out on and to ask the supplier to upload the invoice details in GSTR 1, if not uploaded and to stay GST compliant and to improve the GST compliance rating.
Reconciliation of GSTR 1 with GSTR 3B is required to avoid paying interests and penalties due to short tax payment and to know if any invoice is missed out on, and to allow the recipient to claim proper input tax credit based on his GSTR 2A and GSTR 2B and to stay GST compliant and to improve the GST compliance rating.
You are hereby advised to make GSTR filing on time to avoid paying late fee and interests. In case you have any doubt regarding which form to file and when to file, then you may contact a GST professional firm that will guide you through the entire process of filing form GSTR 3B or any other GSTR.
Read our article:What are the ramifications of not filing Form GSTR 3B?