It always feels like there is a lot to be done to prepare and file GST returns. The GST calendar sneaks up on you and missing the due dates may result in hefty penalties. While you are not alone in this process of tax filing, you must know about different types of GST return forms in detail to keep a check on their relevance pertaining to your business. GSTR-3B is one such form that is meant for almost every taxpayer under the GST regime.
Wondering if you have paid the last GSTR-3B as you should or have other doubts related to this form? This complete guide is meant for you.
What is GSTR-3B?
GSTR-3B return form is a self-declared consolidated summary of inward and outward supplies related to your business. It was introduced by the Government of India with an aim to provide relaxation to businesses transitioning to the GST regime. In addition to the GSTR 2 and GSTR 1 return filing, registered taxpayers have to file GSTR-3B every month (or quarterly if registered under the QRMP scheme).
Also, as a taxpayer, you need to report the summary figures of the Input Tax Credit claimed, sales, and net tax payable in GSTR-3B. As per the overall GST form submissions, the Income Tax Department will tally the claims against the monthly reports submitted. Any mismatch in the details furnished while submitting the GST return form may cause trouble and fines.
You should also know that:
- A separate GSTR-3B needs to be filed for every unique GSTIN.
- Once filed, the GSTR-3B form cannot be revised.
- The GST liability must be paid before or on the date of filing GSTR-3B earlier than its due date.
- It is compulsory to file GSTR-3B even in case of nil tax liability.
Who should file GSTR-3B?
As per law, every individual registered under the GST regime must file GSTR-3B, irrespective of whether the monthly transaction is nil or insignificant. However, the following categories serve as an exception to this rule and need not file GSTR-3B:
- Taxpayers registered under the composition scheme
- Input service distributor
- Non-resident taxable individuals
- Non-resident suppliers of Online Information Database Access and Retrieval (OIDAR) service
Here, it is important to note that you have to file GSTR-3B returns either monthly or quarterly even if your annual aggregate turnover is less than Rs. 5 crores.
Read More: Aggregate Turnover in GST: How’s It Related to Your Business?
Due dates for filing GSTR-3B
The due date for filing month GSTR-3B returns is the 20th of the subsequent month. For example, if you want to file GSTR-3B for the month of Oct 2022, the last date to file monthly GSTR-3B will be Nov 20, 2022.
However, if you are registered under the QRMP scheme, you need to file GSTR-3B returns once every quarter from 22nd to 24th of the coming month. Keep in mind that the exact date of filing these returns under the QRMP scheme also depends on the state or Union Territory where your business is located.
Late fee and penalty
The applicable late fees and penalties related to missing GSTR-3B due date are as follows:
- In case of nil GSTR-3B return filing, you will be liable to pay a penalty of Rs. 20 per day of delay.
- If there is any tax liability for a particular month, the applicable late fee increases to Rs. 50 per day of delay.
- Moreover, in case you fail to pay the tax by the due date, you will be charged interest at the rate of 18% per annum on the outstanding tax amount. Here, the interest will be calculated from the day following the due date till the date you make the GST payment.
- In case you have paid the tax before the due date but failed to file GSTR-3B within the deadline, then the provisions of both late fees and interest will be applicable.
More about the GSTR-3B format
In general, the GSTR-3B format includes:
- GSTIN number
- Legally registered business name
- Sales and purchase details
- Inter-state sales information
- Eligible Input Tax Credit
- Value of inward supplies
- Tax payments
- TDS/TCS information
As a whole, the GSTR-3B format contains the following sections:
| Sections | Description |
| Section 1 | Questionnaire related to business activities and tax liability for the current month |
| Section 2 | GST information including return status |
| Section 3.1 | Information related to the tax levied on you for both inward and outward supplies, for which you are entitled to reverse charge |
| Section 3.2 | Information related to the inter-state supplies made to unregistered persons, UIN holders, and those who have registered under the composition scheme. |
| Section 4 | Information about your eligibility for Input Tax Credit |
| Section 5.1 | Information about supplies that are exempt from GST |
| Section 5.2 | Applicable interest and late fees |
| Section 6.1 | Overall information related to the payment of GST liability for the current month or quarter |
How to file GSTR-3B?
Given below is a step-by-step process for GSTR-3B filing:
- Use your login credentials on the GST portal to log in to your account
- Select ‘Services’=> ‘Returns’=> ‘Return Dashboard’
- On reaching the ‘File Returns’ page, select the relevant financial year and return filing period from the menu and click ‘Search’
- From the list of GST return forms that appears ahead, select ‘Monthly Returns GSTR-3B’ and then click ‘Prepare Online’
- Fill the required information in the GSTR-3B form and click ‘Save’ in case you want to edit/cross-check the details or click ‘Submit’ otherwise
- Once you see the success message on the screen, the status of GST filing will change from ‘Not Filed’ to ‘Submitted’
- Reach the ‘Payment of Tax’ section and pay your dues there
- After the taxes are paid, click ‘Offset Liability’ and then click ‘Ok’ on the pop-up that appears
- Click ‘Proceed’ on the message box that appears and ask for you to go ahead and complete the GSTR-3B filing process
FAQs
Is filing GSTR-3B returns compulsory?
Yes, it is compulsory for every taxpayer (except a few) to file GSTR-3B returns for different tax periods, irrespective of whether their tax liability is nil or higher.
Do I need to file GSTR-3B even when there is no sale or purchase in a specific month?
GSTR-3B returns are to be filed even if there is no transaction made using your GSTIN.
Is there any turnover limit related to GSTR-3B return filing?
You are required to file GSTR-3B returns every month if the annual turnover is Rs. 5 crores or more. If the turnover is less than Rs. 5 crores, you can either opt for the QRMP scheme or file the same every month.
I have obtained two GSTINs for two different businesses. Can I file one GSTR-3B for both of them?
You are not allowed to file one GSTR-3B form for two different GSTINs.
Does invoice matching happen when I file GSTR-3B?
Since filing GSTR-3B returns is more like a self-declaration of various supplies, invoice matching is not needed.
What are the prerequisites for GSTR-3B return filing?
The only prerequisite is that you need to file GSTR-1, GSTR-2, and GSTR-3 forms to proceed with this.
How to view the status of GSTR-3B returns?
You can check the status of the returns by logging into your user account at the GST portal and checking the returns dashboard inside.
Is there any difference between GSTR-3B and GSTR-1 returns?
GSTR-1 requires you to report all the sales within a specific period, while GSTR-3B requires the details of summarized sales figures, claimed ITC, and net tax payable.
