GST Registration
GST Return
Quick & Easy Process
Professional Guidance
Legal and Tax Benefits
The term ‘Return’ means a statement of information that contains the details of income that a taxpayer is required to furnish to the tax authorities at regular intervals. This is used by the tax authorities to calculate tax liability. GSTR-3B is the summary return that taxpayers are required to file regularly, providing details of sales, ITC claims, tax liabilities, refunds, and other relevant information recorded under their GSTIN. This article offers a comprehensive overview of GSTR-3B, explaining its purpose, filing requirements, and applicability for GST-registered taxpayers.
GSTR-3B is a monthly self-declared summary GST return (filed quarterly under the QRMP scheme). Taxpayers must report summary details of sales, ITC claimed, and net tax payable in GSTR-3B.
A separate GSTR-3B must be submitted for each GSTIN. GST liability should be paid on or before the filing date, whichever comes first—either the due date or the actual filing date.
Once filed, GSTR-3B cannot be revised. Filing is mandatory even if there is zero tax liability.
Every person registered under GST is required to file GSTR-3B. However, the following registrants do not have to file GSTR-3B -
Late Fee -
A late fee is charged for filing the GSTR-3B of a tax period after the due date.
Interest -
If GST dues are not paid by the due date, an interest of 18% per annum applies to the outstanding tax amount.
Maximum Late Fee -
For returns other than Nil, the late fee is capped based on the taxpayer's annual turnover:
| Annual Turnover | SGST | CGST | Total Fee |
|---|---|---|---|
| Below ₹1.5 crore | ₹1,000 | ₹1,000 | ₹2,000 |
| Between ₹1.5 crore and ₹5 crore | ₹2,500 | ₹2,500 | ₹5,000 |
| Above ₹5 crore | ₹5,000 | ₹5,000 | ₹10,000 |
Here are the key points to note:
GSTR 3B is a simple return containing a summary of outwards supplies, inward supplies liable to reverse charge, eligible ITC, payment of tax, etc. Thus, GSTR 3B does not require invoice-wise data for outward supplies.
Below are the different tabs in the GSTR 3B summary filing where all relevant information is to be provided.
Tab 1 – Tax on outward and reverse charge inward supplies
Details of outward supplies (Sales), regular taxable sales, nil-rated, zero-rated, and exempted sales are to be provided. Non-GST outward supplies and Inward supplies (Purchases) liable to reverse charge are also to be reported in this tab.
Tab 2 – Inter-State supplies
Interstate supplies made to unregistered persons and composition dealers are to be reported.
Tab 3 – Eligible ITC
ITC Availed – ITC from Import of goods, Import of services, ITC under Reverse Charge Mechanism, general ITC from taxable purchases
ITC Reversed – Any ineligible claimed or paid are to be reported, and the same will be deducted to arrive at Net eligible ITC
Tab 4 – Exempt, Nil, and Non-GST inward supplies
Intra and Inter State Purchases with Non-GST, Zero GST, or exempted under GST are to be reported separately.
Tab 5 – Interest and Late fee
Any delay in filing of returns or shortfall of GST payment in previous months results in Interest and late fee payment – This is auto-populated data.
Tab 6 – Payment of tax
This is the most crucial part where all the data provided in all previous tabs will be combined so as to compute the actual tax liability of the taxpayer. Opening ITC, current month ITC, tax liability, everything will be computed, and the tax amount is to be paid in this tab.
GST on outward supplies xxx
Less: Opening ITC xxx
Less: Current period ITC xxx
Less: TDS / TCS Credit available xxx
Add: Late fee / Interest xxx
Net Tax payable xxx
This staggered filing system has been effective since January 2020.
Note: The Due date for filing GSTR-3B in poll-bound states of Maharashtra and Jharkhand has been extended from 20th Nov 2024 to 21st Nov 2024. However, this extension will be available only to GST taxpayers having their principal palace of business in Maharashtra and Jharkhand.
GSTR 3B can be submitted electronically through the GST portal directly or through a Facilitation Centre. Further, a NIL GST return can be filed through an SMS using the registered mobile number of the taxpayer.
Steps to File GSTR-3B -
Reconciling GSTR-2A (real-time ITC updates) and GSTR-2B (monthly ITC statement) with GSTR-3B is crucial to:
Reconciling GSTR-1 with GSTR-3B is essential to:
Filing GSTR-3B or any other GST return can be challenging, especially for those new to the process. To ensure accuracy and avoid mistakes, it's advisable to consult professionals. Tax2win’s experts are ready to help with GST filing and answer all your GST questions. Book a tax expert today!
Failing to file GSTR-3B by November 30, 2024, even after paying the late fee, can lead to significant consequences:
Yes, if a GST-registered taxpayer fails to file GSTR-3B by November 30, 2024, they will lose the opportunity to claim any pending input tax credit (ITC) for FY 2023-24. This includes both unclaimed ITC and amendments to previous filings.
Without the ability to claim ITC, the taxpayer cannot offset their output tax liability, which leads to a higher tax burden. Therefore, it is critical to meet this deadline to ensure that ITC benefits are not forfeited.
Missing the GSTR-3B filing deadline results in penalties and interest, which depend on the type of return and taxpayer turnover:
GSTR-3B is a simplified return that summarizes a taxpayer's outward supplies, inward supplies subject to reverse charge, eligible input tax credit (ITC), and tax payments. It serves as a monthly or quarterly self-declaration for registered GST taxpayers, complementing the GSTR-1 and GSTR-2 forms by summarizing GST liabilities for a specific tax period.
Due Dates for Filing GSTR-3B:
Initially, the government planned to implement GSTR-3 as an auto-populated return based on the data from GSTR-1 and GSTR-2. However, due to implementation challenges, the government decided to put GSTR-3 on hold. As a result, GSTR-3B was introduced as a self-declared summary return, which taxpayers are now required to file.
