GSTR-3B is a simplified summary return. GSTR-3B filing is mandatory for all the tax payers who have registered under GST regular scheme. Every registered taxable person must file GSTR-3B every month. It contains the details of all outward as well as inward supplies of goods and services. After considering the details furnished, GSTIN will determine your input tax credit availability or the amount of tax payable.
Every registered taxable person should furnish GSTR 3B on or before 20th day of following month. For example, GSTR 3B for the month of January 2018 is required to be filed on or before 20th February.
If the registered person does not file the returns within due date, the Government will levy late fees on the tax payer.
Note: However, the late fee under each act (CGST or SGST) cannot exceed Rs 5000.
Example, If the Taxpayer has filed GSTR-3B for the month of December 2017 (due date 20th Jan 2018) on 23rd January 2018.Amount of late fees to be paid.
If the above return was a return with 'Invoice Bills' tax liability, then late fees will be:
If the above return was a return with 'Zero' tax liability, then late fees will be:
Every person who is registered under GST should pay interest in the following circumstances.
The rate of interest notified by the government are as follows
|Scenario||Interest Per Annum|
|Delay in Payment of Tax||18%|
|Excess ITC claimed or excess reduction in Output Tax||28%|
Every person who is registered for GST as a regular tax payer must file GSTR-3B return every month
All taxes will be paid online and there will be no manual payment of taxes. Post generation of challan online, you can pay GST by one of the following modes - Debit card, Internet Banking or cheque at any Bank branch.
No, all the details in GSTR-3B will be self-declared in summary manner. Invoice wise breakup details are not required.
Yes, GSTR-3B has to be filed by every registered person even if there are no transactions in a month.
GSTR-3B once filed cannot be revised. Adjustments, if any, has to be done subsequently when you file GSTR-1, 2 & 3 for the same tax period.
The return will be treated as invalid return and the taxpayer has to file the part B of GSTR 3B again.
Tax liability can be discharged by utilizing credit available in electronic credit ledger and electronic cash ledger.
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