December 14, 2020

Important Points You Should Know About GSTR 3B

By parkhyun

GSTR 3b is the basic return of judi online GST.

Every registered person except the composition dealer, TDS and TCS deductor is required to file it.

It is a monthly return and the payment of tax in GST is linked with GSTR 3b. It means we make the payment of tax under GST while filing GSTR 3b.

Earlier GSTR 3 was supposed to be the GST return. This form was introduced as a summary form till the GSTN portal can make the GSTR 3 live.

But after the case of AAP & Co, the rules were charged retrospectively. The GSTR 3b was mentioned as the return prescribed under section 39 of CGST Act.

In this article, we will cover recent changes in GSTR 3b, consequences for not filing this return and the best practices for filing GSTR 3b correctly.

Recent Changes In GSTR 3b
Recently there are many changes in GSTR 3b. Earlier a new return filing system was proposed by GSTIN. But after spending around an year, it is decided to scrap it.

Now the requisite changes will be made in GSTR 3b itself to make it the normal GST return.

Let us have a look at those changes.

GSTR 3b will get the auto populated data from GSTR 1.

In many cases taxpayers file the GSTR 1 with high turnover but skip GSTR 3b. In some cases they file GSTR 3b with very less turnover. It results in passing on the ITC to the buyers but tax is not paid to the government.

Many GST frauds were executed using this pattern. Then CBIC decided to link the two returns.

Now the data filled in GSTR 1 will auto populate in GSTR 3b.

Example: M/s ABC ltd filed their GSTR 1 with a turnover of Rs. 10lac with a tax liability of Rs. 1,80,000. Now at the time of filing GTSR 3b this Rs. 1,80,000 will auto reflect. In case of less deposit of tax, a negative report may be generated and sent to the Department officers.