Thank you for your response
Thank you for your response
Our representative will get in touch with you shortly.
GSTR-3B is a monthly return to be filed by regular dealers for the period July 2017 to March 2020.
Pro Tip: Get up and running with e-Invoicing in 3 minutes Request a free demo
1st February 2022
Budget 2022 updates-
1. The last date to make amendments, corrections in GSTR-3B, and claim any missed Input Tax Credit or ITC of one financial year is no longer due date to file September return of the following year, but it is 30th November of the following year or filing of annual return, whichever is earlier.
2. GST registration can be cancelled if GSTR-3B is not filed for continuous tax periods under Section 29.
29th December 2021
CGST Rule 36(4) is amended to remove 5% additional ITC over and above ITC appearing in GSTR-2B. From 1st January 2022, businesses can avail ITC only if it is reported by supplier in GSTR-1/ IFF and it appears in their GSTR-2B. Section 16(2)(aa) was notified on 21st December 2021.
21st December 2021
1) From 1st January 2022, taxpayers cannot file GSTR-1 if the previous period’s GSTR-3B was not filed.
2) From 1st January 2022, the GST officers can initiate recovery proceedings without any show-cause notice against taxpayers who under-report sales in GSTR-3B compared to GSTR-1.
GSTR-3B is divided into 6 sections.
This article contains in detail each section 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 (total which has been invoiced). And then further break this up into IGST, CGST, SGST/UTGST and cess if any. Do note that 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 GST rate, only the total tax values.
1. Outward supplies and inward supplies on reverse charge i.e. Details where tax is payable by you
3.2 Of the supplied shown in 3.1(a) above, details of inter-state supplies made to unregistered persons, composition taxable persons, and UIN holders.
Under this head further, break up of ‘Outward taxable supplies’ in the above table 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 specialized 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 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 ClearTax.
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. Payment 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) 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 Do note that for now no TDS or TCS have to reported or collected: This section is not applicable for now.