JioGST - GSTR 3B Return Filing
What is FORM GSTR-3B
It is a simple return form released by the Government to be filed as stop gap arrangement till returns in regular formats are filed. GSTR-3B is for those taxpayers, who are required to file FORM(S) GSTR-1, 2 & 3. Hence, composition dealers, non-resident taxable persons, ISD, TDS, TCS (E-commerce operator) i.e. for whom specific returns are prescribed would not be required to File GSTR-3B
Details furnished in FORM GSTR-3B can be amended while filing FORM GSTR-1 and/or FORM GSTR-2. Details furnished in FORM GSTR-1 and FORM GSTR-2 will be matched with FORM GSTR-3B already filed, auto populated and reflected in the return in FORM GSTR-3. Any difference in tax payable will be refunded or needs to be paid as the case may be. The taxpayer will be liable to interest on tax short paid earlier. However, there will be no penalty or late fees charged on the difference. Any tax found paid excess will be carried forward to next month’s return.
Details to be provided in GSTR-3B
- Details of outward supplies and inward supplies liable to reverse charge
- Out of supplies, details of Inter-State supplies made to unregistered persons, composition taxable persons and to UIN holders
- Details of Input tax credit (ITC)
- Values of exempt, nil-rated and non-GST inward supplies
- Payment of Tax:
- TDS/TCS Credit: Dates for deduction/collection of tax at source are yet to be notified
Few Important Instructions:
- 1. Value of Taxable Supplies = Value of invoices + value of Debit Notes – value of credit notes + value of advances received for which invoices have not been issued in the same month – value of advances adjusted against invoices
- 2. Details of advances as well as adjustment of same against invoices to be adjusted and not shown separately
- 3. Amendment in any details to be adjusted and not shown separately.