August 2017 is a very crucial and important month for every tax payer, as this is practically the first month everyone has to file a GST return for the supplies made during the month of July 2017.
Form GSTR-3B was announced by government which is very simple form for monthly returns of July and August month.
However, everyone has to file normal returns such as GSTR-1 etc. also but only due date is extended.
What is form GSTR-3B?
Form GSTR-3B is a simplified return proposed for initial 2 months, July and August to file the GST returns. However it is not a replacement of normal return to be filed under GST.
Due date to file GSTR-3B returns are:
20th August 2017
20th September 2017
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.
Of the supplies shown above, details of inter-State supplies made to unregistered persons, composition taxable persons and UIN holders
Here you have to provide details of outward supply made to:
Lot of people were confused whether ITC will be available on RCM or not. Here you can see the field for supplies liable to reverse charge, ITC on GST paid on RCM is available.
9. Save GSTR3B’
Once all information are added, click the ‘Save GSTR3B’ button at the bottom of the page to save your details.
10. Submit’ button to fill in the GSTR-3B
You will now get a message confirming that your details have been added successfully. Scroll down the page and click the ‘submit’ button to fill in the GSTR-3B.
After filling in the details, you get a message saying that the GSTR-3B is submitted successfully.
A success message is displayed at the top of the page that the GSTR-3B is submitted successfully. Once you submit the data, data is frozen and you cannot change any fields in this return. The ITC and Liability ledger will get updated on submission.
Status of the GSRT3B will be changed to ‘submitted’.
Note: Scroll down the page. The ‘payment of tax’ tile is enabled only after successful submission of the return.
11. Details of Payment of tax
To pay the taxes and offset the liability, first click on the ‘payment of tax’ title:
Note: Tax liabilities as declared in the return along with the credits gets updated in the ledgers and reflected in the ‘tax payable’ column of the payment section. Credits get updated in the credit ledger and the updated balance is available and can be seen while hovering on the said headings of credit in the payment section.
Click the ‘check balance’ button to view the balance available for credit under Integrated Tax, Central Tax, State Tax and Cess. The functionality enables the taxpayers to check the balance before making the payment for the respective minor heads.
The ‘check balance’ page will be displayed. The page lists the minor head wise balance available as ITC and cash balance. Click the OK button to go back to the previous page.
At this point, you are required to provide the amount of credit to be utilised from respective available credit heads to pay off the liabilities. You must ensure that the utilisation principles for credit have well adhered otherwise the system won’t allow for the offset of liability.
Click the ‘offset liability’ button to pay off the liabilities. After receiving a confirmation message of your payment, click on the OK button.
12. File GSTR3B with DSC or File GSTR3B with EVC button.
To file GSTR3B with DSC, click on the ‘proceed’ button.
Select the certificate and click the ‘sign’ button.
To file GSTR-3B with EVC:
Enter the one-time password (OTP) sent on your e-mail and mobile number of the authorised signatory registered at the GST portal and click the ‘validate OTP’ button. Click the OK button after successful submission of details.
Scroll down the page and click the ‘back’ button as shown below:
As you can see below, the ‘file returns’ page will be displayed as shown below. Select the financial year and return filing period (month) for which you want to review from the list.
Then, click on the ‘search’ button.
13. Status of return
The status of the GSTR-3B return will finally change to ‘Filed.’ You can click on the ‘view GSTRT3B’ button to view your filed return.
Congratulations, you have successfully filed your GSTR-3B return.
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.