GSTR 3B: The Simplified GST Return for July and August 2017

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GSTR 3B is the latest buzz in the field of GST and you may be having some of the following questions in your mind

  • What is GSTR 3B?
  • Who is required to file GSTR 3B?
  • What is the due date for GSTR 3B?
  • What information is to be provided in GSTR 3B?
  • If I file GSTR 3B, will I have to file GSTR 1, 2 and 3?

Update: The Government has extended the due date for GSTR 3B for the month of July 2017 to 28th August 2017. It is done to enable the assessees to take credit of the tax paid on the closing stock as on 30.06.2017 under earlier laws. In this context, the following is to be kept in mind:

  • Due date extension is only applicable for the persons who want to avail ITC on the tax paid on closing stock as on 30.06.2017 under earlier laws. All other persons need to file the GSTR 3B return within 20th August 2017. within 25th August 2017 (again extended due to technical issues on GST Website)
  • Tax is to be paid within 20th August, 2017 by self assessment of the amount payable by the assessee.
  • Govt. has said that form to claim transitional input tax credit (TRANS 1) will be available from 21st August 2017.
  • “In case of shortfall in the amount already paid vis-a- vis the amount payable on submission of Form 3B, the same will have to be paid with interest of 18 per cent for the period between August 21, 2017, till the payment of such differential amount,” the ministry said.

So if you want the answers of the above questions then I suggest you to read on. Also watch the video below for an explanation in Hindi

Also Read:

 

What is GSTR 3B?

GSTR 3B is a simple return format which has been introduced by the GST Council and is available for filing the returns of July 2017 and August 2017.

This form has been introduced to ease the return filing process for the first two months so that businesses can adapt to the changes brought in by the implementation of GST in a gradual manner. It basically will provide time to the businesses to understand and make themselves ready for filing the more complex GSTR 1, 2 and 3 returns.

Who is required to file GSTR 3B?

All registered persons who were required to file GSTR 1, 2 and 3 will now have to file GSTR 3B return.

What is the due date for GSTR 3B?

The due dates for filing the GSTR 3B are as follows:

For July 201720th August, 2017

25th August, 2017

For persons who do not want to claim ITC on tax paid on closing stock under earlier laws.
For July 201728th August, 2017For persons who want to claim ITC on tax paid on closing stock under earlier tax laws*
For August 201720th September, 2017

What information is to be provided in GSTR 3B?

Given below is a format of GSTR 3B for your reference. From this format you will be able to develop an idea of what information is required to be furnished in this return. 

GSTR 3B

You can download the format from this link.

As you can see in the GSTR 3B form that there is no requirement to provide invoice wise or party wise details. You just have to summarise the following data and put it in the form:

3.1. Details of outward supplies and Inward supplies liable to reverse charge

details of outward and inward supplies liable for reverse charge

(a) Outward taxable supplies (other than zero rated, nil rated and exempted)

In this section of the GSTR 3B return, you are required to include only those outward supplies in which you have charged GST from your customer. It will also include any advance received from a customer against any future supply which is not provided in the month for which return is being filed.

Remember that you are liable to pay GST on any advance received for providing taxable supplies even if the supply has not been given and tax invoice has not been issued. 

Also, if any previous advance is adjusted in the month for which the return is being filed then such amount has to be deducted while calculation of taxable outward supplies. Do not forget to provide adjustment for Debit and Credit Notes. To know what is Debit/ Credit Note you can watch a detailed video at our YouTube Channel.

(b) Outward Taxable Supplies (Zero Rated)

Under GST, supplies outside India i.e Exports and supplies to Special Economic Zones (SEZ) are considered Zero Rated. So if you have provided any taxable supplies outside India or to a SEZ then you can fill the details in your GSTR 3B Return in this section or else leave it blank.

(c) Other Outward Supplies (Nil Rated, exempted)

Notice carefully that here the word ‘taxable’ is missing.  Provide the amount of those supplies which are either exempted by an Exemption Notification or on which tax rate is 0%.

(d) Inward Supplies (Liable to Reverse Charge)

In this section you are required to provide the value of all the inward supplies which were covered under Reverse charge (e.g Purchases from an unregistered dealer) and on which GST was paid by you. 

(e) Non GST outward supplies

Here you are required to provide the amount of supplies made by you which are outside the purview of GST like petrol, diesel, LPG, Electricity, alcohol for human consumption etc.

 

3.2 Of the supplied shown in 3.1(a) above, details of Inter-State supplies to unregistered persons, composition dealers and UIN holders

Details of outward inter-State supplies to unregistered persons, composition dealers and UIN holders

In this section of GSTR 3B return, you are required to provide amount of Inter-State Supplies made to unregistered persons, composition taxable persons and UIN holders like specialised agencies of UNO or Embassy. 

Please note that the amount you will show here is already included in Section 3.1 (a) of GSTR 3B. This section only requires a separate disclosure of Inter-State supplies which is already included in Outward Taxable Supplies above.

4. Eligible ITC

eligible itc gstr 3b

In GSTR 3B return, you will have to provide the details of all eligible ITC for which you can avail credit. The data is to be shown is as follows:

  1. Import of Goods: IGST paid on import of goods
  2. Import of Services: IGST paid on import of services
  3. Inward supplies on reverse charge (other than the on import of goods and services reported above): Tax paid on inward supplies under reverse charge
  4. Inward supplies from ISD (Input Service Distributor): Tax paid on inputs received from Head Office or other brances
  5. All other ITC: Tax paid on all other inward supplies from registered dealers.

Note: Do not provide ITC on closing stock as on 30.06.2017. That will be claimed later using special forms provided by Government.

Update: The date for filing GSTR 3B for the month of July 2017 has been extended to 28th August, 2017 so that assessees can avail credit of ITC on tax paid on closing stock as on 30.06.2017.

You are also required to fill details of ITC Reversed if any and details of ineligible ITC.

5. Values of exempted, nil rated and non-GST inward supplies

 

values of exempt, nil rated, and non-GST inward supplies

 

Here you need to provide the break up of your inward supplies into inter-state and intra-state for the following

  • Purchases from a dealer under Composition scheme
  • Purchases of Exempt goods
  • Purchases of Nil Rated goods
  • Purchases of Goods not covered under GST like Alcohol for human consumption, Electricity bills of your office, fuel etc.

6.1. Details of payment of taxes

payment of tax gstr 3b

Provide all details of taxed paid by you through ITC or by cash and also details of any interest or late fee, if applicable.

6.2. TDS/TCS Credit

There is a section for details of TDS/TCS credit but nothing is to be filled in this section as the provisions of TDS and TCS are not yet notified.

If I file GSTR 3B, will I have to file GSTR 1, 2 and 3?

You might be thinking that you will be relieved for July and August 2017 only by filing GSTR 3B. I am sorry to say it but it is not so.

You will have to file GSTR 1 and 2 for July and August 2017. However as I said earlier, for ease of migration to GST era from previous tax regime, the due dates for filing GSTR 1 and 2 for July and August 2017 have been postponed as follows:

MonthDue Date for GSTR 1Due Date for GSTR 2Due Date for GSTR 3
July 20175th September, 201710th September, 201715th September, 2017
August 201720th September, 201725th September, 201730th September, 2017

Please note that GSTR 3 will not be required to be filed for the months July and August 2017.

Update: As per Notification No 20/2017 – CGST dated 08th August 2017, GSTR 3 for the month of July 2017 is to be filed by 15th September 2017 and for August 2017 is to be filed by 30th September, 2017.

Other Points to be noted

  • There will be no late fees or any penalty for late filing of returns for the month of July and August 2017
  • From September 2017 there will be no GSTR 3B and it will be mandatory to file GSTR 1, 2 and 3 within due dates

 

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