What is GSTR 3B?
GSTR-3B could be a monthly self-declaration that needs to be filed a registered dealer from July 2019 until March 2020. Points to Note:
You want to file a separate GSTR-3B for every GSTIN you have got
Liabilities of GSTR-3B should be paid by the last date of filing GSTR-3B for that month
GSTR-3B can not be revised
Who ought to file GSTR 3B?
Every person World Health Organization has registered for GST should file the come GSTR-3B as well as nill returns.
However, the subsequent registrants don't got to file GSTR-3B
Input Service Distributors & Composition Dealers
Suppliers of OIDAR
Non-resident assessable person
Late Fee & Penalty
Filing GSTR-3B is necessary even for nill returns. Late Fee for filing GSTR-3B once the maturity is as follows:
Reconciliation of GSTR-1 with GSTR-3B is required to:
Rs. fifty per day of delay
recognize if any invoice is passed over or duplicated
Rs. twenty per day of delay for taxpayers having zilch liabilities for the month
Interest @ eighteen every year is collectable on the number of outstanding tax to be paid.
Late fee for July, August, and Sep has been waived
GSTR-3B could be a monthly come. All regular taxpayers have to be compelled to file this come until March 2019. you'll be able to file your come on GST Portal.
There area unit some inconveniences whereas filing from GST Portal:
• Copy paste of values isn't allowed.
• Chances of error area unit exaggerated as manual entry of values needs to be created.
• GST liability is calculated once submitting the come.
Here is however you manually file your GSTR-3B exploitation Tally-
Step one – move to entree of Tally > show > Statutory Reports > GST > GSTR-3B.
Step a pair of – This report is within the same format as GSTR-3B within the GST Portal. Take a print out of the report.
Here is however you'll be able to print the report –
Press Ctrl+P to print the GSTR-3B report. In the Print Report screen, press Enter. The report is formed within the word format. Press Ctrl+S to save lots of the word file.
Note: check that that MS Word is put in on your laptop or use Google Docs
Step 3 – Go to GST Portal and fill in all the details manually. To know how to file GSTR-3B on GST Portal check out our guide.
Step 4 – Submit your return, pay taxes (if any) and file your GSTR-3B.
Here is a step-by-step guide to filing GSTR-3B on GST Portal:
Step 1 – Login to GST Portal.
Step 2 – Go to ‘Services’ > ‘Returns’ > ‘Returns Dashboard’.
Step 3 – This displays the ‘File Returns’ page. Select the ‘Financial Year’ & ‘Return Filing Period’ for which you want to file the return from the drop-down list. Click the ‘SEARCH’ button.
Step 4 – On ‘Monthly Return GSTR-3B’ tile, click the ‘PREPARE ONLINE’ button.
Step 5 – Enter values in each tile. You need to enter totals under each head. Fill in Interest and Late Fees, if applicable.
Step 6 – Click the ‘SAVE GSTR-3B’ button at the bottom of the page after all details are added. A success message is displayed on the top of the page.
Step 7 – Once all the details are saved, ‘SUBMIT’ button at the bottom of the page is enabled. Click the ‘SUBMIT’ button to submit the finalized GSTR-3B return.
A success message is displayed at the top of the page. Once you submit the form, the added data is frozen. No changes in any fields can be made after this. The ITC and Liability ledger will also get updated on submission.
Status of the GSRT- 3B will be changed to ‘Submitted’.
Step 8 – Scroll down the page. You will see that the ‘Payment of Tax’ tile is enabled after successful submission of the return.
To pay the taxes and offset the liability, perform the following steps:
Click the ‘Payment of Tax’ tile.
Tax liabilities as declared in the return along with the credits, get updated in the ledgers, and are reflected in the ‘Tax payable’ column of the payment section. Credits get updated in the credit ledger and the updated balance is seen when hovering on the specific headings in the payment section.
Click the ‘CHECK BALANCE’ button to view the balance of cash and credit. This functionality enables the taxpayers to check the balance before making the payment for the respective minor heads.
Click the ‘OK’ button to go back to the previous page.
Provide the amount of credit to be utilized from the available credit (in the separate heads) to pay off the liabilities.
While providing the inputs please ensure the utilization principles for credit are adhered to, otherwise, the system will not allow for the offset of liability.
Click the ‘OFFSET LIABILITY’ button to pay off the liabilities. A confirmation message is displayed. Click the ‘OK’ button.
Step 9 – Select the checkbox for declaration. From the ‘Authorised Signatory’ drop-down list, select the authorized signatory. Click the ‘FILE GSTR-3B WITH DSC’ or ‘FILE GSTR-3B WITH EVC’ button.
Step 10 – Click the ‘PROCEED’ button.
On successful filing, a message is displayed. Click the ‘OK’ button.
The status of GSTR-3B return will now have changed to ‘Filed’. You can click the ‘VIEW GSRT-3B’ button to view the GSRT-3B return.
Keywords: taxation course in nagpur, accounting course in nagpur, taxa
By: vijay nilatkar
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