What is GSTR-3B?
GSTR-3B is a simple form that summarizes a taxpayer’s returns every month. As a taxpayer, you will need to fill in the details and submit the form on a monthly basis all along the nine months starting from July 2019. GSTR-3B does not require invoice level information. It just requires accumulating and listing the total values of sales and purchases for your business.
As a taxpayer,
- You need to file separate GSTR-3B for each GSTIN
- You cannot revise GSTR-3B
- Tax liable for GSTR-3B must be paid by the last date of the month in which you are filing GSTR-3B
Who needs to file GSTR-3B?
GSTR-3B must be filed by every taxpayer registered under the GST regime. Even if you have nil or less significant transaction for a specific month, you need to file GSTR-3B at regular intervals. In case you are a composition dealer, an input service distributor, a supplier of online information & database access or retrieval services, or a non-resident taxable Indian, you need not file GSTR-3B.
What is the penalty for not filing GSTR-3B or filing it late?
It is mandatory to file GSTR-3B even if you have nil transactions. If you delay the submission, you will have to pay late fees as follows –
- INR 50 per day of delay; if you have transactions to account for in your returns
- INR 20 per day of delay; if you are filing nil GSTR-3B
- 18% interest per annum on your dues; if you fail to pay the GST amount by the due date
- 100% penalty on your tax amount; if you miss the GST payments deliberately
Why comparing GSTR-3B with GSTR-2A and GSTR-1 is essential?
Reconciliation of GSTR-2A with GSTR-3B is important to:
- Avoid notice from the GST department in case of any discrepancy in the input tax credit claims in GSTR-3B
- Get to know if you miss any input tax credit
- Notify the supplier in case he failed to upload the invoice details on GSTR-1
Reconciliation of GSTR-1 with GSTR-3B is important to:
- Eliminate any interest or penalties levied due to short payment of tax
- Get to know in case you miss any invoice or have duplicate invoices
- Let the recipient claim precise input tax credit depending on GSTR-2A
Frequently Asked Questions about GSTR-3B
Yes, it is inevitable to file GSTR-3B monthly for every person registered under the GST regime, even if you made no transactions.
I got two GSTINs. One belongs to Mumbai, and the other is based in Gujarat. Can I file the same GSTR-3B for both?
No, you cannot club GSTR-3B. It is mandatory to file separate GSTR-3B for each GSTIN.
GSTR-3B does not require inputting invoice-wise details. Entering consolidated numbers will do.
As GSTR-3B is a self-declaration, there is no invoice matching done on it.
GSTR-1 must be filed on a monthly or quarterly basis. GSTR-3B needs to be filed every month, whereas the GST Council will soon declare filing of GSTR-2 and GSTR-3.