GSTR3B- the first return in GST
GSTR1,2, & 3
As their is extension of due dates for filing of GSTR 1 and GSTR 2, GSTR 3B needs to be filed, GSTR 3B is now to be done. Subsequently if there is any discrepancy between the system generated 3B and earlier filed 3B the taxpayer will have to pay additional tax, liability and other dues.
A presentation is for you to know more about GSTR3B. Know to file the return in this.
Before filing GSTR3B
We have to give a summary of following
- Interstate sales
- Purchase by import of goods
- Import of services
- Inward supplies
- All other ITC
- Reversal of ITC under Rule 42 & 43
- Ineligible ITC
Rule 42 & 43 reversal means inputs and inputs services intended to be used exclusively
- purposes other than business
- for effecting exempt supplies
- credit is not available under sub-section (5) of section 17
It is better to categorize the books of accounts based on the breakup mentioned above.
Suggest to create separate General ledger for each sales type and purchase. For reversal of input tax credits also, better to create separate General ledger in order to review the return easily.
So dead line reaching, please ensure your workings.
After filing GSTR3B
We have to file it on or before 20th Aug2017, After that, upon generation of GSTR 3, if liabilities are different from those declared in GSTR 3B, the system will update the delta (difference) between GSTR 3B and GSTR 3 automatically.
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