Form GSTR-3B is a return in GST that has to be filed by a taxable person. Each manufacturer, trader, service provider who is liable to register under GST has to complete a self-assessment of his taxes and file form GSTR-3B. The return contains details of goods sold or services provided and the tax payable during the month of July and August 2017. The due dates for filing GSTR-3B are 20th August and 20th September for the month of July and August respectively.
In the month of September, GSTR-1, GSTR-2 and GSTR-3 is required to be filed for the months of July and August.
Here are the details which are to be mentioned in GSTR-3B:
- GSTIN of the taxable person (you can use your provisional ID if you do not have a GSTIN)
- Month or year for which the return is filed
Details of Sales
3.1. Details of transactions liable for reverse charge are required to be mentioned. All the transactions have to be bifurcated into outward taxable supplies (zero-rated, non zero-rated, nil rated and exempted), other outward supplies, inward supplies and non-GST outward supplies. Details like total taxable value and amount of IGST, CGST, SGST and cess paid are required to be mentioned for each type of transaction here.
3.2. Summary of inter-state supplies made to unregistered persons, composition dealers and UIN holders (foreign diplomats, WHO, etc) included in the above details are to be disclosed separately here. The amount of IGST, place of supply and total taxable value of supplies is to be stated here
Total Taxable Value of 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.
Details of Purchases
- This part requires the taxable person to state all the Input Tax Credit (ITC) that is available, ITC reversed, Net ITC available and ineligible ITC as per GST rules.
Net ITC available has to be mentioned after deducting the ITC reversed. ITC may be required to be reversed due to the inputs returned during the period.
ITC which cannot be claimed under GST like the ITC on the supply of goods or services provided by a fitness club or health centre has to be mentioned separately under GSTR-3B.
- Purchases from composition dealers or purchases which are exempt or nil-rated are required to be mentioned here. This has to be further divided into interstate and intrastate.
Details of Payment of Tax
- The total tax payable and the adjustment of ITC is to be done in this section. Any balance tax payable in cash and the amount of interest and late fee to be paid is to be shown here. Wherever the input tax cannot be adjusted against the output tax the cells in the table have been marked in black so that no numbers can be entered in these cells.
The next section is about credit available due to TDS deducted on acceptance of government contract or TCS collected on being an online aggregator. These sections on TDS and TCS have not been notified till date. So, these details need not be filled in.
You can now also file GSTR-3B on ClearTax GST.
This article is by ClearTax, India’s largest financial services platform for businesses and professionals. (www.cleartax.com)