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Income Tax efiling in India for FY 2023-24 (AY 2024-25)

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Form GSTR 3b - Format, eligibility & Steps to file GSTR 3b

The GSTR 3b returns is a form that a registered taxpayer must file every month. The GSTR 3b is a consolidated form including a summary of all inward and outward supply of your business involvement, this form has simplified the process of filing the GST returns. Certain features are as follows:

What is GSTR 3b?

The GSTR 3b returns is a form that a registered taxpayer must file every month. The GSTR 3b is a consolidated form including a summary of all inward and outward supply of your business involvement, this form has simplified the process of filing the GST returns. Certain features are as follows: Your GSTR 3b form includes a summary of your sales formations for the month, the input tax credit that you have claimed, and the tax you are liable to pay for the period. You need to fill this returns form after you have filed the returns under the GSTR-1 and GSTR-2 forms. Once GSTR 3B has been filed, then is it possible to revise it

Who should file GSTR 3b

Suppose you are a registered taxpayer under the regular scheme of GST registration with a valid GSTIN number. In that case, you must file the GSTR 3b mandatorily returns, even if you are not liable to pay any GST for that month. However, you will not be required to file GSTR 3b returns if you are under the following category— A taxpayer registered under the composition scheme An input service distributor An NRI supplier of an Online Information Database Access and Retrieval service (OIDAR). A non-resident taxpayer It is worth noting that if you are a small taxpayer with an annual turnover of less than Rs. 5 Crore, then you need to file the GSTR 3B returns.

Format of GSTR 3b

Table 1: This section requires a 15-digit (GSTIN) number & this is an auto-filled section. Table 2: Name of the registered person auto-filled from your GSTIN account particulars, and business name should be separately provided if there is any. Table 3.1: Information of outward & inward supplies liable to reverse charge: Total taxable (intrastate and interstate) value as well as the total tax (IGST, CGST, SGST/UTGST) as applicable: Outward Taxable Supplies - Other Zero Rate, Nil Rate, and Exempted is a tax amount that you charge in state & central sales. Outward Taxable Supplies - Supplies with zero GST rates Outward Supplies - Supplies with Nil rated and exempt like Milk & Salt, etc. Inward Supplies - Purchases done from Unregistered suppliers for which you need to produce (For Yourself) an invoice to pay the GST. Non-GST Outward Supplies - Goods that are not covered in GST, for instance - Alcohol, Petroleum, etc. Table 3.2: Supplies of Unregistered Persons = Capture Interstate sales made to unregistered persons. Supplies of Composition Taxable Persons = Interstate sales occurred to composition taxpayers. Supplies of UIN holders = Interstate sales occurred to a (Unique Identity Number) UIN holder. Table 4: ITC Available (whether in full or part) Import of goods = Tax charged for the Import of Goods. Import of services = Tax paid on import of services covered under reverse charge. Inward supplies liable to reverse charge (other than 1 & 2 above) = Inward supplies on a reverse charge instead of the above-mentioned import of goods & import of services Inward supplies from ISD = Inward supplies made from your ISD (Input Service Distributor). All other ITC = Normal purchases made by a registered dealer. 4(B) – ITC Reversed (1) As per rules 42 & 43 of CGST Rules = These rules need an input credit to be reversed for goods and services which are used partly for business and other purposes. Input credit reversal is also instructed where supplies contain taxable, exempt, and nil-rated supplies. Input credit pertinent to capital goods utilized for business and other purposes. (2) Others = Any other ITC which has been reversed in your books. 4(C) – Net ITC Available (A)–(B) 4(D) – Ineligible ITC (1) As per section 17(5) = ineligible report credit according to Section 17(5). (2) Others = Any other ineligible input tax credit. Table 5: Information of exempt, nil‐rated, and non‐GST inward supplies (For interstate and intra-state supplies held by you) Table 6: You have to fill here the self-determined tax payment which must be paid by you. This depends on the details of outward & inward supplies which are liable to be paid on reverse charge mentioned in Table No. 3. Table 6.2: TDS/TCS Credit: You are required to hold the information of- TDS (Tax withheld by the Government establishment) TCS (Tax withheld by the E-commerce operator).

Steps to File GSTR 3b

First, you need to go to the GST portal and log in with your ID & password. Go to the service section and you will see an option of “Return” click on that & after it click on “Return Dashboard”. Then, you will be redirected to the page ‘File Returns’. You must choose the applicable financial year and then the ‘Return filing’ time from the drop-down menu & Click on ‘Search’. After this, you will see a list of GST return forms showing up on display. You must select ‘Monthly Returns GSTR 3b’ from the list & click on ‘Prepare Online’. After doing all the steps mentioned above, you will be redirected to the GSTR 3b form, where you must fill in all the relevant details. Then you can either ‘Save’ this (in case you want to edit the details later), or you can click on ‘Submit’ (In case you think that it needs no changes). Once you click on the ‘Submit’ Option, a message on the top of your display and the status of your GST filing will switch from ‘Not filed’ to ‘Filed’. After the successful submission, make the ‘Payment of Tax’ section of your returns where you will be required to pay your dues. Click on ‘Offset Liability’ and select ‘Ok’. Lastly, click ‘Proceed’ on the warning message which will show up if you want to proceed. Then a successful message will be sent to you.

How to Check The Status of GSTR 3b Filing?

To check the status of your GSTR 3b filing, follow the below-mentioned steps- You need to log in to the GST portal with the relevant details Click on the ‘Returns Dashboard' option on the main homepage. Then choose the applicable financial year, and the relevant return filing period, and click on ‘Search’. After all these steps, you can see all the GST returns you have filed until that month's date along with the filing status.

Late fee & Penalties On GSTR 3b

If you fail to submit your GSTR 3b within the prescribed date then the relevant late fees for missing the GSTR 3b are levied as follows: If you are not liable to pay any tax for that month, you will need to pay Rs. 20 per day for delay. In case you are liable to pay tax for that month, the relevant late fee will be Rs. 50 per day for delay. In case of any outstanding tax amount, a penalty interest rate of 18 percent will be charged annually.

Frequently asked questions

Yes. Filing GSTR 3b returns is mandatory for you in every term even if you are not liable to pay GST for that term.

No. Revising or modifying the GSTR 3b form is not permitted after the final submission. Therefore, it is advised to check every detail carefully while filing your GSTR 3b.

Visit the GST portal & log in there with the relevant details. Then go to the service section, click on ‘returns’ and select yes ‘Do you want to file nil return’. Lastly, attach your documents & signature.

If the annual turnover limit is Rs. 5 Crores or more than this, then you need to file your GSTR-3B returns monthly by the 20th of the following month.

GSTR-1 contains all the sales made in a specific time period, and GSTR-3B contains net payable tax and claimed ITC along with the details of sales.
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Krishna Gopal Varshney

Krishna Gopal Varshney co-founder & CEO of Myitronline.com. Myitronline is amongst the top emerging startups of Asia and authorized ERI by the Income Tax Department. A dedicated and tireless Expert Service Provider for the clients seeking tax filing assistance and all other essential requirements associated with Business/Professional establishment. Connect to us and let us give the Best Support to make you a Success. ”

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