Form GSTR-3B needs to be filed by a taxable person under GST for submitting the provisional assessment of the tax liability. Provisional assessment of the taxes to be filed under form GSTR-3B is only applicable for the month of July and August.
A taxable person has to file the GSTR-3B for the invoices generated in July by 20th August and for the invoices pertaining to the month of August has to be filed by 20th September. Each manufacturer, trader, service provider who is liable to register under GST has to complete a self-assessment of his taxes and has to file form GSTR-3B.
What is GSTR- 3B?
Rule 61(5)of CGST Rule, 2017 states “Where the time limit for furnishing of details in FORM GSTR-1 under and in FORM GSTR-2 under section 38 has been extended and the circumstances so warrant, return in FORM GSTR-3B, in lieu of FORM GSTR-3, may be furnished in such manner and subject to such conditions as may be notified by the Commissioner.”
Particulars of GSTR-3B
- Year: The financial year for which the return is being filed. In this case 2017.
- Month: The month to which it pertains.
- GSTN: Enter your GSTN
- Legal name of the registered person: The registered entity's name would automatically be displayed once the GSTN is entered.
Details to be Mentioned in Form GSTR-3B
A full detail of the tax under different heads CGST, SGST, UTGST, IGST and cess for the transactions which were taxable due to reverse charge. Tax applicable on following transactions has to be mentioned
- Sale of goods/ providing services which are not zero rated, nil rated or exempted.
- Sale of goods/ providing services which are zero rated.
- Sale of nil rated or exempted goods or service provided which are nil rated or exempted.
- Purchase of goods or services received on which reverse charge is applicable.
- Sale of products or services provided which are not covered under GST.
Following details are to be mentioned for the sale of goods or providing service to an unregistered dealer, composition taxable person and entities holding UIN like WHO, embassy etc.
- Name of the place from where the goods were dispatched or from where the service was provided.
- Total Taxable value* of the goods sold or the services provided.
- A total of the Integrated goods and service tax (IGST) applicable on the transactions.
(* Value of Taxable Supplies = Value of invoices + value of Debit Notes – value of credit notes + value of advances received for which invoices have not been issued in the same month – value of advances adjusted against invoices)
1. Details of outward supplies and inward supplies liable to reverse charge
The total taxable value (both intrastate and interstate) of the following Nature of Supplies along with the total tax (IGST, CGST, SGST/UTGST) as applicable:
- Outward Taxable Supplies other Zero Rate, Nil Rate and Exempted
- Outward Taxable Supplies (Zero Rated)
- Outward Supplies towards Nil Rated and Exempted
- Inward Supplies liable to be paid on reverse charge basis
- Non-GST Outward Supplies.
2. Details of inter-State supplies made to unregistered persons, composition dealer and UIN holders
A part from the outward supplies details declared above, we need give a break-up of the interstate outward supplies made to Unregistered Persons, Composition Dealers and UIN Holders. These details needs to be captured State-wise/ Union-Territory-wise total with taxable value and total IGST levied on these supplies.
3. Details of ITC Available
A thorough calculation of the ITC available on the import of goods or services and on account of the purchases made from an Input Service Distributor(ISD) and purchases on which reverse charge is applicable has to be completed by the taxable person. Net ITC available has to be mentioned after deducting the ITC reversed for example due to the inputs being returned.
The total value of the purchase of inputs from a composition taxable person or services received and nil rated or exempted inputs have to be bifurcated separately for intrastate and interstate.
Every taxable person under GST needs to calculate the tax liability under the different heads IGST, CGST, SGST, UTGST, and cess. Details of ITC available under different heads used for paying the tax liability. Any liability under head interest and the late fee has to be shown separately. The amount of tax or cess paid in cash is to be shown separately.
4. Details of exempt, nil-rated and non-GST inward supplies
You need to capture the details of inward supplies made from the composition dealer, inward supplies at nil rate and exempt. Also, you need to separately mention Non-GST inward supplies. The value of above discussed supplies need to be captured separately for interstate and intrastate supplies.
5. Payment of tax
We need to declare the self-ascertained tax payable. This is based on the details of outward supplies and inwards supplies liable to be paid on reverse charge. The tax-wise break-up of payment tax by way of utilization of ITC and cash deposit needs to be provided.
6. TDS/TCS Credit
We need to capture the details of TDS (Tax withheld by the Government establishment) and TCS (Tax withheld by E-commerce operator). However, these provisions are deferred from initial rollout of GST. Accordingly, TDS and TCS is not applicable till it is notified further.
In the light of the above discussion, it is stated that registered person shall take care of capturing the details in the books of accounts in the manner that the same shall be available in the formats / form for reporting in GSTR-3B.