Quick Insight to GSTR-3B

What is GSTR-3B Return?

GSTR-3B return must be filed by all persons having GST registration. It is a Simple Return Form introduced by the CBEC for the month of July and August 2017 due on the 20^th of August and 20^th September 2017 respectively. From October 2017, the taxpayers would be required to file GSTR-1, GSTR-2 and GSTR-3, as per normal schedule. 

Hence, GSTR-3B is a temporary return that must be filed monthly until October, 2017. Consequently, GSTR-3B is not applicable starting September 2017, where-from regular returns in GSTR-1, GSTR-2 and GSTR-3 have to be filed. Filing GSTR-3B is mandatory. Even if a business has no transactions during July, it will still have to file a nil return.           

What details are required to be disclosed?

GST-3B will require you to disclose the following details in detail:

-Outward supplies and inward supplies on reverse charge

-Details of inter-state supplies made to unregistered persons, composition taxable persons, and UIN holders.

-Eligible ITC

Sample GSTR-3B:

For assistance in filing GSTR-3B contact us at 9900397777, mail at info@preethamandco.com