Home > GST > Help Center > GSTR 3B ExplainedLast Updated: Dec 28th 2023
GSTR 3B Explained
GSTR-3B for Finalization of both Inward, Outward Supplies - Explained in detail. GST Books from EZTax.in makes it easier to file Form GSTR-3B. Start Today.
This document covers
- Key Components
- Who is not required to File?
- Due Dates
- Penalty for Late Filing
- Interest on delayed payment
- Quick GSTR 3B FAQs
1. Key Components of GSTR 3B Return
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.
2. Persons not required to file GSTR 3B
- Non Resident Taxable Person
- Suppliers of OIDAR
- Input Service Distributors
- Composition Dealers
3. Due date of Filing GSTR 3B
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.
4. Penalty for Late Filing of GSTR-3B
If the registered person does not file the returns within due date, the Government will levy late fees on the tax payer.
- If the tax payer has invoices - Rs 50 per each day of delay (Rs 25 under CGST act and Rs 25 under SGST act)
- If the tax payer does not have invoices - Rs 20 per each day of delay (Rs 10 under CGST act and Rs 10 under SGST act)
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 September 2017 (due date 20th Jan 2018) on 23rd January 2018. Amount of late fees to be paid would be as follows
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:
5. Interest on delayed payment of tax
Every person who is registered under GST should pay interest in the following circumstances.
- Delay in payment of tax i.e. pays GST after the due date.
- Undue or excess claim of Input tax credit.
- Undue or excess reduction of output tax liability
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% |
Important Points:
- The tax payer can mention only consolidated values for each field in GSTR 3B. Invoice level detailed information not required in GSTR 3B.
- The Taxpayer need to file the regular returns in GSTR-1, GSTR2 and GSTR-3.
- GSTR-3B return once filed cannot be revised.
- A Taxpayer must file a separate GSTR-3B for each GSTIN.
- The Regular taxpayer can make Interstate sales as well as local sales also, and they can collect GST from their customers.
6. Quick GSTR 3B FAQs
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.
Get to know more GSTR-3B Filing Price