GSTR-3B Form – Due Date, How to fill, Eligibility, Late Fee & Penalty

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Last updated on January 17th, 2018 at 07:22 pm

Most of the Indian Business have started implementing GST after 1st July 2017. Nowadays, the invoices and the bills are also being used in the GST Format. Thus, to make the GST work smoother, the Government relaxed the GST Return Filing for 2 months. The Tax Authorities have introduced a simple return form called the GSTR-3B Form. This form can be used during the time period of July of the current year to March of the next year. Every registered taxpayer needs to file a separate GSTR-3B for each GSTIN.

The GSTR-3B is a monthly return that is filed by the regular dealers from the time period of July 2017 to March 2018. It is more of a self-declaration return form.

In this article, we will be talking about the Basics of the GSTR-3B and other information regarding the GSTR-3B.

What is the GSTR-3B Form

The GSTR-3B Form is a simple return form that is introduced by The Central Board of Excise and Custom (CBEC) for July 2017 to March 2018. The form contains the details of the inward and outward supplies. Make sure that you have been provided with an invoice level information with this form. Only the total values for each field needs to be provided.

You need to file a separate GSTR-3B for each GSTIN you have. The tax-liability of GSTR-3B must be paid by the last date of filing the GSTR-3B for that month.

Due Date of GSTR-3B

The GSTR-3B has to be filed by 20th of the next month till March 2018. Like for an example, the due date of the return for the period November 2017 is 20th December 2017.

Who are Eligible to file GSTR-3B

Every person who has registered for GST is eligible for filing a GSTR-3B. This return form must be filed and submitted by you even if you do have any transactions during these months.

Who are not Eligible to file a GSTR-3B

The following sections of registrants are not eligible for filing a GSTR-3B:

  • Input Service Distributors
  • Composition Dealers
  • Suppliers of Online Information and Database across the Retrieval Services (OIDAR), who have pay taxes themselves (as per Section 14 of IGST Act).
  • Non-Resident Taxable Person.

Revising of GSTR-3B

The GSTR-3B form cannot be revised.

Late Fee and Penalty

The GSTR-3B filing is mandatory. Even if a taxpayer who does not have any transactions during a month has to file a Nil Return.

An interest of 18% per annum is applicable. It has to be calculated by the taxpayer on the amount of the outstanding tax that has to be paid. The time period will be from the next day of the due date for filing to the date of payment.

The late fee is charged for filing GSTR-3B after the due date. The late fee penalty is Rs 50 per day of delay and Rs 20 per day of delay for taxpayers having a Nil Tax Liability for the month.

Note:

The late fee for July, August, September has been abandoned. Any other late fees paid will be credited back to the Electronic Cash Ledger under the Tax and this can be utilized for making the GST Payments.

Important Points on GSTR-3B
  • The GSTR-3B has to be filed separately for each GST Registration Number.
  • It needs to be filed online only in the Official Portal – www.gst.gov.in
  • It is needed to file even in the Nil Transaction Record.
  • Once filed, the form is final. There is no provision for revision of return once filed.
  • Refund cannot be claimed under the GST-3B since the invoice-wise details in the form GSTR-1.
  • Composition dealers are not required to file a GSTR-3B. They will be required to file quarterly return only.
  • The GSTR-3B Return cannot be filed without the full payment of tax due.

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