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GSTR 3B

Last updated on 08 March, 2021

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GSTR 3B - Monthly return that consolidates the details of outward & inward supplies


What is GSTR 3B?

The GSTR-3B is a consolidated summary return of inward and outward supplies that the Government of India has introduced as a way to relax the requirements for businesses that have recently transitioned to GST.

Since a lot of small and medium businesses have been using manual accounting methods, filing returns within the July 2017 deadlines would be difficult for many of these businesses. Hence, from July 2017 to June 2018, tax payments will be based on a simple return called the GSTR-3B. 

 
Latest Updates
  • Taxpayers shall not be allowed to furnish the details of outward supplies of goods or services or both under section 37 in FORM GSTR-1, if they have not furnished the return in FORM GSTR-3B for preceding two months.
  • Taxpayers are required to furnish the return for every quarter under the provision to sub-section(1) of section 39. If they have not filed GSTR 3B for previous tax period, then they shall not be allowed to furnish the details of outward supplies of goods or services or both under section 37 in FORM GSTR-1 or use the invoice furnishing facility (IFF).

When to file GSTR-3B?

Starting 1 January 2021, small taxpayers with aggregate turnover of less than 5 crores can file quarterly GSTR 3B. Tax liability will be auto populated from GSTR 3B to GSTR 1 while filing returns.

Prerequisites for filing GSTR 3B

How to file GSTR 3B?

Basic details required for filing GSTR 3B

On the GSTR-3B, you will have to provide your GSTIN and legal name, and complete other tax-related sub-sections such as:

Details of outward & inward supplies liable to reverse charge to be filed in GSTR 3B

Supplies to be filed in GSTR3B

ITC received in GSTR3B

Exempted supplies in GSTR-3B

Tax payment in filing GSTR 3B

TDS & TCS credits received while filing GSTR3B

After filling in all these details, the GSTR-3B form can be submitted after being signed by the authorized taxpayer.



       
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