Regular taxpayers, including those opting for the QRMP scheme, must file form GSTR-3B return. It is a monthly summary return but the frequency can be once a quarter for the QRMP taxpayers.
1st February 2023
Important updates from Budget 2023*
1. Section 16 is amended to state that buyers who fail to pay their supplier the invoice value, including the GST amount, within 180 days from the date of issue of the invoice, must pay an amount equal to the ITC claimed along with interest under Section 50.
2. Sections 37, 39, 44, and 52 are amended to restrict taxpayers from filing their GSTR-1, GSTR-3B, GSTR-9 and GSTR-8 for a tax period after the expiry of three years from the due date.
3. Section 17(5) is revised to include another item under ineligible ITC being expenditure on CSR initiatives for corporates.
4. High sea sales and similar transactions that are neither supply of goods or services are considered exempt and hence ITC proportional to such sales cannot be claimed as per revised Section 17(3).
5. Schedule III has been amended to provide for paras (7) and (8) and explanation (2) to take retrospective effect from 1st July 2017.
6. Section 10 of the CGST Act has been amended to allow businesses that supply goods through an e-commerce operator to opt into the composition scheme.
*These amendments will come into force once notified by the CBIC.
GSTR-3B is divided into 7 sections.
This article contains in detail each section/table of GSTR-3B and the details to be provided in it.
These details are further broken down into the following-
For each of these you must provide, the total taxable value (a total which has been invoiced). And then further break this up into IGST, CGST, SGST/UTGST and cess if any.
You do not have to provide invoice-level detail here. Only the consolidated values for the month must be provided. You do not have to provide the GST rate, only the total tax values.
3.1.1 Details of e-commerce supplies under Section 9(5) of the CGST Act, including IGST & state/UT acts.
e-Commerce operators must fill in Clause (i) with sale value and taxes payable whereas the e-commerce sellers should fill Clause (ii). Care must be taken to enter details of only the sales carried out through the e-commerce websites.
This table was added as a part of the modification to GSTR-3B vide the CGST Notification 14/2022 dated 5th July 2022. Further, the taxpayer must avoid duplication and should not report such e-commerce sales value or taxes thereof in previous Table 3.1.
3.2 Of the supplies shown in 3.1(a) and 3.1.1(i) above, details of inter-state supplies made to unregistered persons, composition taxable persons, and UIN holders.
Under this head further, a break up of ‘Outward taxable supplies’ in the above two tables must be provided. Here you must mention the inter-state supplies which are made to
UIN holders mean those who have a Unique Identification Number instead of a GSTIN. These are specialised agencies of the UNO (United Nations Organisation) or an embassy. Or any Multilateral Financial Institution and Organisation notified under the United Nations (Privileges and Immunities) Act, 1947. Any other persons may also be notified by the Commissioner.
4. Eligible ITC
This is the detail required for the input tax credit. It must be provided separately for IGST, CGST, SGST, UTGST, and Cess. Only total values have to be reported and invoice level information is not required.
(A) ITC Available (whether in full or part) – This information must be broken down into ITC on:
Our experts can help you calculate the amount of credit to be reported here. Input tax credit on the closing stock is not required to be reported here, as this input tax credit must be first reported by filling up TRAN-1 and TRAN-2 forms.
(B) ITC Reversed
(C)Net ITC available (A) – (B) – This will be auto-populated by Clear GST software.
(D) Other Details (Prior to 5th July 2022, it was Ineligible ITC)
5. Provide values of exempt, nil rated, and non-GST inward supplies: Here you have to report any purchases made by you of goods or services, which are from a composition dealer, are exempt, nil rated or not covered by GST at all. This information must be broken down into inter-state and intra-state.
6. 1Payment of Tax
Under this section, you have to report the final tax payable by you on taxable supplies made by you, which will match with 3.1.(a) and 3.1.1 above. The amount is separately reported under IGST, CGST, SGST, and UTGST.
And also report the credit which has been availed against these. This amount is under 4(C). The balance tax must be deposited by you and appears under column 8. If any interest or late fee has been deposited that must also be reported.
6.2 TDS/TCS Credit:
The section requires taxpayers to report the value of TDS and TCS deducted or collected for the tax period.