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HOW TO FILE GSTR 3B

WHAT IS GSTR 3B?

GSTR-3B is a monthly or quarterly self-declaration form that is required to be filed by all registered taxpayers under the GST (Goods and Services Tax) system in India. It is a summary return that allows taxpayers to report their total turnover, tax liability, and GST paid for the relevant month. The form is used as an interim return until the more detailed GSTR-1 and GSTR-3 forms are implemented.

GSTR-3B contains two sections:

1.       Section 1: In this section, taxpayers have to provide their total turnover, GST liability, and GST paid for the relevant month.

2.       Section 2: In this section, taxpayers have to provide details of the input tax credit (ITC) available and the ITC claimed in the return.

The GSTR-3B form must be filed by the 20th of the following month. Failure to file the return on time may result in penalties and interest charges.

HOW DO FILE GSTR 3B?

Here is a step-by-step guide on how to file GSTR-3B:

1.       Log in to the GST portal using your GSTIN and password.

2.       Navigate to the "Returns" section and select GSTR-3B from the list of available forms.

3.       Enter the details of your turnover, tax liability, and GST paid during the relevant period.

4.       Verify the details entered and then submit the form.

5.       Make any necessary payments through the GST portal.

6.       Take a printout of the acknowledgement for future reference.

It's important to note that GSTR-3B is a monthly return and the due date for filing the return may vary as per the government notification, so it's advisable to check the GST portal for the due date.

In case of any errors or discrepancies, you can make corrections in the form before submitting it. It's also recommended to keep all relevant documentation and invoices handy while filing the return to ensure accurate information is provided.

PENALTY FOR NON-FILING GSTR3B

If a taxpayer fails to file their GSTR-3B return on time, they may be subject to penalties and interest charges. The specific penalties and charges will depend on the length of the delay and the GST laws in effect at the time.

As per the current GST laws, If GSTR-3B is not filed within the due date, a late fee will be charged at a rate of:

As per Section 47 of the CGST Act, 2017- immediately after the due date

The late fee for GSTR-3B is Rs. 20 (CGST-Rs. 10 and SGST-Rs. 10) in case of nil tax liability and Limited to Rs. 500. In case of tax liability if Rs. 50 (CGST-Rs. 25 and SGST-Rs. 25) per day at different annual gross turnover limits. Let's explain in detail below.

·       For those with zero tax liability, the late fee is Rs 20 per day and is capped at Rs 500.

·       For those who have a tax liability with AATO (Annual Aggregate Turnover), i.e., annual sales up to Rs.1.5 crore, the late fee is Rs.50 per day and is limited to Rs.2000.

·       For tax liability with AATO (Annual Aggregate Turnover), ie, annual sales of Rs. 1.5 crore to Rs. Between 5 crores, the late fee is Rs 50 per day and is limited to Rs 5000.

·       For tax liability with AATO (Annual Aggregate Turnover) i.e. annual sales of Rs. 5 crores, the late fee is Rs.50 per day and the maximum late fee for GSTR 3B is Rs. Limited to 10,000.

Additionally, failure to file GSTR-3B can lead to a range of other penalties, including fines and even disqualification from GST registration. It's recommended to file the return on time to avoid any such penalties.

Regards

Santosh Patil

Founder

Alliance Tax Experts

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