The Form GSTR-3B will contain consolidated details of outward supplies and input tax credit (ITC).
(Also read: GSTR-3B filing and how to enrol for GST)
The government also notified that the August 25, 2017 deadline will also apply to taxpayers who do not want to avail of transitional credit in Form TRANS 1 this month. Those who want to fill up Form TRANS 1 this month, the last date will be August 28, 2017 as announced earlier. While Form Trans 1 is to be used by manufactures and services providers already registered under erstwhile central laws before GST, traders not liable to be registered under those laws are required to use Form Trans 2. (Read more)
The government also stressed on timely filing and “not wait for the last date. Suitable notification is being issued shortly.”
GSTN (Goods and Services Tax Network), which operates the GST Common Portal – gst.gov.in, has given the following guidelines on how to file the GST Return-3B or GSTR-3B:
1. After logging in, select ‘Return Dashboard’. After this, select month and financial year – which in this case will be July and 2017-18. Click on the ‘Search’ button and select GSTR-3B.
2. Declare your liabilities and ITC (input tax credit) claims. This can be done in Section 3.1 and Section 4 and. “Transitional ITC cannot be claimed in GSTR 3B,” the GST portal noted, adding: “It can be claimed only through TRANS 1 and TRANS 2.”
3. After this, the user is required to enter details of interest, if payable. This can be filled in Section 5.1. A late fee will be computed by the system, the GST portal added. Click on the ‘Save GSTR-3B’ button.
4. After saving the entered details, a button called ‘Submit’ will be enabled. “Please note that after submit, no modification is possible. Hence ensure that details are filled correctly before clicking on Submit button,” GSTN said on the portal.
5. After the user pushes the ‘Submit GSTR-3B button’, the system will “post (debit) the self-assessed liabilities including system generated late fee in Liability Register and credit the claimed ITC into ITC ledger”.
6. After this step, the Payment of Tax option (as shown in the image) will be enabled. The user is required to click on the tile and declare payment details. Doing so offsets the liability.
7. The user can click on the ‘Check Balance’ button to view the balance available for credit under Integrated Tax, Central Tax, State Tax and Cess.
8. At this stage, the user is required to fill out the section that specifies how he or she wants to set-off the liabilities. This can be done by a combination of cash and inputs tax credit. Among other details, the system checks whether you have sufficient cash-ITC balance and whether all liabilities are set-off. “Part payment is not allowed in GSTR-3B,” the portal added.
9. After this step, the user can click on the ‘Offset Liability’ button to pay off the liabilities.
10. A declaration statement is to be submitted by selecting the authorised signatory filing the Form GSTR-3B. Once this is done, click on the ‘File GSTR-3B’ button. “A message for successful filing will appear and Acknowledgement will get generated,” the GSTN added in its guide.