GSTR 3B: GST Return Filing for July and August 2017admin
Under current GST regime a normal dealer has to file 3 returns per month and an annual return (making it total 37 returns in a year). However, one should know that out of three returns which are prescribed, only one return has to be filed by the retailer. The remaining two returns are auto-generated by the computer which is only a facility given to them to see so that if there is any mistake they can correct it out. Know more about the return filing mechanism here.
Government has introduced a simpler form GSTR-3B for the first two months i.e. July and August, thereby postponing the filing of regular returns (GSTR-1 &2). However, the invoice-wise details in regular GSTR-1 would have to be filed for the months of July and August 2017 as per the timelines given below
No late fees and penalty would be levied for the interim period.
GSTR 3B is divided into following 8 parts:
- Details of Outward Supplies and inward supplies liable to reverse charge
- Details of inter-State supplies made to unregistered persons, composition taxable persons and UIN holders
- Computation of eligible ITC
- Details of exempt, nil-rated and non-GST inward supplies
- Details of Tax payment and
- Details of TDS/TCS
Eventually, this GSTR-3 will be matched against GSTR-3B and any difference will be refunded or will require payment as the case may be.