GSTR-3B and who is required to file it

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GSTR-3B and who is required to file it
GSTR-3B and who is required to file it

The taxpayers who are registered under Goods and Services Tax or GST, it is mandatory for them to file GSTR-3B form. Central Board of Excise and Customs introduced GSTR-3B for the month of July and August. The forms like GSTR-1, GSTR-2 and GSTR-3 for July and August are filed in the month of September. In the meantime, all the registered taxpayers will have to file GSTR-3B.

It is important for a taxpayer to have separate GSTR-3B file for each Goods and Services Tax Identification Number or GSTIN, which a taxpayer has.

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How a taxpayer can file GSTR-3B?

All in all, the GSTR-3B Form contains 6 tables, each of them requires specific details.

Table-1 Of GSTR-3B

This table basically contains the details of total taxable values along with the applicable tax for the following supplies: –

  • Outward Taxable Supplies other than Zero Rate, Nil Rate and Exempted
  • Outward Taxable Supplies (Zero Rated)
  • Outward Supplies towards Nil Rated and Exempted
  • Inward Supplies liable to be paid on reverse charge basis
  • Non-GST Outward Supplies

Table-2 Of GSTR-3B

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This table contains the details of the place of supply, total taxable value and the IGST applicable for all interstate supplies made to the entities mentioned below: –

  • Interstate supplies made to Unregistered Persons
  • Interstate supplies made to Composition Dealers
  • Interstate supplies made to UIN Holders

Table-3 Of GSTR-3B

In this table following details will be captured

  • ITC Available on the inward supplies, for which the ITC was availed, such as Import of Goods or Services, supplies liable to fetch reverse charge, supplies from ISD, and other inward supplies, as applicable.
  • ITC Reversed on the usage of inputs/ input services/ capital goods used for the non-business purpose or partly used for exempt supplies. Moreover, if the depreciation is claimed on tax component of capital goods, plant and machinery, then the ITC will not be allowed. Such reversals are supposed to be captured in this table.
  • Eligible ITC, which is calculated by deducting ITC Reversed from ITC Available.
  • Ineligible ITC details of Goods and Services Tax paid on inward supplies listed in negative list, that are not eligible to fetch input tax credit.

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Table-4 of the GSTR-3B

This table contains the details of interstate and intrastate supplies of the following: –

  • Supplies from composition dealers, exempt and nil-rated inward supplies
  • Non-GST inward supplies

Table-5 of the GSTR-3B

This table contains the declaration of the self-ascertained tax payable. The tax payable will generate from the following: –

  • Tax paid through ITC (CGST, SGST/ UTGST, IGST & Cess)
  • Tax paid TDS/ TCS
  • Tax/ Cess paid in Cash
  • Interest & Late Fees

Table-6 of the GSTR-3B

This table generally contains the details of TDS and TCS for CGST, SGST/ UTGST & IGST. However, as a business, these will not be that crucial at the moment, as these provisions are deferred from the initial rollout of GST, and are not applicable, till notified further.

All in all, GSTR 3B returns has come as a huge relief for businesses across the nation. Moreover, taxpayers are required to gear up for the month of September, which is considered to be a crucial month for filing tax returns.

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