GST Compliance - GSTR 3B Return

 

Chetan Jain, BA, LLB Hons, LLM

Tax Consultants & Trade Mark Attorneys

 

All the Companies/GST dealers have to file form GSTR 3B, a summarised Return, for July by August 20 and for August, the same has to be filed by September 20. 

The format of this return includes a summary of details of outward supplies, inward supplies liable to reverse charges and input tax credit eligible on various procurements made during the month.

 

Ambiguity - But the form does not provide space for carry-forward of credit from the earlier regime. This essentially implies that the GST liability for the months of July and August will have to be settled in cash. 

Clarification Required:

 

There is a mechanism for claiming credit from the previous regime but that has not been integrated with the GST filing process. 

This transitional credit will be available only after filing of GSTR TRAN-1 on the GSTN common portal. But Even if a taxpayer files TRAN-1 prior to August 20 (that is, prior to filing GSTR 3B for July), the credits would not be allowed to be migrated in GST as there is no specific table for disclosing opening Credit. 

Such ambiguity will prevail unless and until there is any amendment in the FORM GSTR-3B.

 

Important Guidelines prior to making GST Payment for July,17;-

1. Only 25 banks have been authorised to collect GST.

2. Private Banks, HDFC, ICICI and Axis Banks are not eligible to collect GST.

 

3. Regd persons having their accounts with these banks can pay only through NEFT/RTGS only.

 

4. All tax challans are to be created only after logging into your GST account.

 

5. CPIN will be generated for each such challan created.

 

6. Such challans having CPIN are also required even if you wish to pay through epayment or debit/credit card.

7. After payment of challan either at bank or e-payment mode, a CIN number will be generated.

8. If payment is made through NEFT/RTGS, then you have to log in to your account and enter your UTR number in your profile.

 

9. Three days after the generation of CIN or entering your UTR, your tax payment will be reflected in your e-cash ledger.

10. Only after the payment is reflected in your e-cash ledger, you can adjust/pay your output liability.

 

Conclusion

You must pay your taxes well 3 days before you file your GSTR-3, only then you will be able to file your GSTR-3.

 

In other words, if last date of filing GSTR-3 is 20th, then last date of payment will be 17th. So please be sure to pay off your tax liability by 15-17th of each month.

Click here to download GSTR-3B Form (In excel Format)

Click here to download presentation - Details to be filled in GSTR-3B

 

[Date: 02.08.2017]

 

(Views expressed are strictly personal)