Now, let’s take a look at what is GSTR-3B, and why does it hold an important place under the GSTR and know How to file GSTR-3B online
What is GSTR-3B? Basics of GSTR-3B Return Filling ( How to file GSTR-3B online)
This is a self-declaration that contains a summary of both inward and outward supplies of a taxpayer. If a taxpayer possesses more than one GSTIN, then he needs to file a separate GSTR-3B for each GSTIN. Furthermore, the taxpayer need not furnish invoice level information in the form, the total values for each field should be provided instead.
Who should file GSTR-3B?
Every taxpayer registered under GST should file GSTR-3B except for the following:
When should GSTR-3B be filed? Basics of GSTR-3B Return Filling ( How to file GSTR-3B online)
The due date for filing GSTR-3B is the 20th of the following month for which the return is being filed. For example, for the month of October, the GSTR-3B will be filed on 20th November 2018.
Late fee and Penalty if GSTR-3B is not filed on time
If GSTR-3B is not filed on time then a late fee is levied on the taxpayer:
An interest @18% per annum is charged on the amount of outstanding tax to be paid.
However, the late fee for the month of July, August, and September have been waived off.
How to file GSTR-3B step by step on the Govt. Portal? Basics of GSTR-3B Return Filling ( How to file GSTR-3B online)
Step 1: Log in to the GST Portal (www.gst.gov.in).
Step 2: Select ‘Services’ and then select ‘Returns’ and then click on ‘Returns Dashboard’.
Step 3: When you click on ‘Returns Dashboard’, a ‘File Returns’ will appear on the screen. Select the relevant ‘Financial Year’ and the ‘Return Filing Period’, from the drop-down list, for which you want to file the return. After that click on ‘Search’.
Step 4: in the next step you will see different types of GST Forms. Click the ‘Prepare Online’ button on the ‘Monthly Return GSTR3B’.
Step 5: Next, you will be re-directed to the GSTR-3B form where you will have to fill in the relevant details like interest and late fees, if applicable.
Step 6: You can click on the ‘Save GSTR3B’ if you want to edit the same or you can click on ‘Submit’, once you have entered all the required details in the form.
Step 7: Once you click the ‘Submit’ button, a success message will be displayed on the top of the page. However, you cannot change or revise the return once the form is submitted. The status of the GSTR-3B return will then be changed from ‘Not Filed’ to ‘Submitted’.
Step 8: After the successful submission of the GSTR-3B form, you will notice that the ‘Payment of Tax’ head has been enabled. You can then pay the taxes and offset the tax liability. After you click the ‘Offset Liability’ button you will receive a pop-up message where you will have to click ‘OK’.
Step 9: After completing the process of paying taxes and offsetting the tax liability, select the checkbox for declaration and from the ‘Authorized Signatory’ select the authorized signatory. Click on ‘FILE GSTR-3B WITH EVC’ or ‘File GSTR3B WITH DSC’ to begin with return filing.
Step 10: A warning message will be displayed on the screen, next click on ‘Proceed’.
Click on ‘OK’ to confirm And the message will be displayed on the screen.
Soon after you click on OK, the status of your GSTR-3B return will change to ‘Filed’. To view your form, click on ‘View GSTR3B’.
After filing GSTR-3B, the portal, the status of the return will be either “Submitted” or “Filed”. In case the data is filled and the return has been submitted, the status will be “Submitted”. On the other hand, if the return has been filed and the liability is still unpaid, the status will be “Filed”.
With so many returns to be filed under the Goods and Services Tax regime, the taxpayer might get confused and hence might also commit certain mistakes. Needless to mention, some of the taxpayers can miss out on filing returns as well. While filing the GST returns, a taxpayer has to be really cautious and the same need to be filed on time as well. This will save the taxpayer from the late fee and penalty.
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