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GSTR-3B is a monthly self declaration form that has to be filed by a registered dealer. It is a simplified return to declare GST liabilities summary for a tax period. Continue reading this article to know more about this form.
In this article, we will discuss the return filed in GSTR-3B, but first, we will try to understand what are the returns that are required to be filed in the general course of business. In the normal course of business, taxpayers who have applied for GST registration are required to file:
To gain detailed insights about GST returns to be filed and their due dates, you can refer to our previous articles on GST Returns and their Due Dates on our website.
As with anything new, GST will also have its share of issues and problems in the initial stages. And it would be difficult for the taxpayers to file timely returns that are required to be filed under GST, for the simple reason of unfamiliarity with the procedures. There are many other reasons which make it difficult for taxpayers to file timely compliance like these returns ask for GSTIN Number of the taxpayer, and many taxpayers are still not registered under the Act.
In order to ensure the smooth rollout of GST and after considering the recommendations of the key industry players, time limits for furnishing the Returns under GST are extended. After the Council meeting held on 18th June 2017, Arun Jaitley announced that return filing timelines under GST are to be relaxed and extended up to September.
Decisions are taken in this council meeting state that a simplified tax return is to be filed in Form GSTR-3B, containing the summary of Inward and Outward supplies, for the period starting from July 2017 to March 2018.
As stated earlier it is a monthly self declaration form that has to be filed by a registered dealer. It should be filed with GSTR 1 and GSTR 2 forms. Sub-rule 5 of Rule 64 of CGST Rules specify the provisions relating to Form GSTR-3B. Section 37 and 38 specify the due dates for furnishing details in GSTR-1 and GSTR-2 respectively. These relevant dates are 10th and 15th of every month. This rule states that if the time limit for furnishing these details has been extended and circumstances so warrant, then return is to be filed in GSTR-3B in lieu of GSTR-3 (monthly return) as per the conditions as specified by the Commissioner.
After the extended period when GSTR-1, GSTR-2, and GSTR-3 will be filled, GSTR-3 will be auto-populated with the information furnished in the two previous forms. If there are any differences between the information filed in GSTR-3 and GSTR-3B, then such difference will be refunded or paid, as the case may be. However, the taxpayer won’t be liable to pay any interest, late fee or penalty for such excess amount.
All tax payers including those with nil returns should file this form on a monthly basis.
However there are certain persons that are exempted from filing this return as per existing rules:
The due date for submission of this form is the 20th of the succeeding month. For example- Due date for the month of September would be 20th October.
The step by step procedure of online filing of this return is provided below:
This form is divided into the following:
Filing GSTR-3B is mandatory for all taxpayers, including those with no business in a specific period. Therefore never miss the due date for filing your returns on time else you would be liable to pay penalties. In case of any query related to GST Returns, contact Enterslice.
Read our article: Simplified and New GST Returns from April 2020