What is GSTR-3B return,its filing procedure, rule and about input tax credit?

GSTR-3B return date is coming near and near and most of the people under GST regime does not know much about this return. 

GSTR-3B return is the return under GST which needs to be filed by every registered person under GST law in the month of August and September. The due date of GSTR - 3B is 20th of the next month and government has mandated this return for only two months data reporting i.e. for July and August data a registered person needs to file this.Let us know the facts of GSTR-3B Return:

Who needs to file GSTR-3B and when?
 

This return is to be filed by every person who has GST registration and the due dates and month for which this return needs to be filed are as follows:

For Month of July'17	GSTR-3B needs to e filed by 20th August
For Month of August'17	GSTR-3B needs to be filed by 20th September

 

After filing GSTR-3B, do the registered person does not require to file GSTR 1, 2 and 3?

 

No as per the recent notification by the Government, the GST registered person needs to file the GSTR 1, 2 and 3 as per the date defined in the month of September.

For more Details of Due Dates - Please read - File all your July and August GST returns in the month of September

Is there any penalty defined under law for not filing GSTR-3B?

Till now no penalty has been announced by the government, but when the words of this government change nobody knows and tell about this thing. So we advise the persons to file the return in time.
 

Do Invoices needs to be uploaded for GSTR-3B?

No invoices need to be uploaded in this return now, only the summary of the Sales Invoices and Purchase invoices to claim the Input Tax Credit needs to be Given in GSTR-3B. But the same needs to be uploaded while filing GSTR-1 for the month of July and August.
 

What are the major details needs to be provided under GSTR-3B?
 

1. Details of outward supplies and inward supplies liable to reverse charge
2. Details of inter-State supplies made to unregistered persons, composition taxable persons and UIN holders
3. Eligible Input Tax Credit (ITC) {ITC Available - ITC Reversed = Net ITC Available, Ineligible ITC}
4. Values of exempt, nil-rated and non-GST inward supplies
5. Tax Paid 
6. TDS and TCS Credit
    

What about the Input Tax Credit (ITC) pertains to prior 1st July or as on 30th June 17?

Transitional Input Tax Credit (ITC) will flow from GST Trans- 1 and cannot be taken through GSTR-3B as per the Government twitter handle.

How to file GSTR-3B Return?

One needs to prepare invoices data before filing this return, a registered person can use Hubco free GST Invoicing Software and prepare all the data to file GSTR-3B.

Also, if you have the data ready, you can file the return on GST common portal at gst.gov.in.

or One can outsource all GST compliance and return filing to Hubco.in at only Rs. 1500 per month (Taxes extra).

In the case of any doubt, do mail the query at gst@hubco.in.