What is Form GSTR-3B?
Form GSTR-3B is simply a summary return whose work is the taxpayer declares about the liabilities of GST for the tax period and relive those liabilities. For each tax period, a normal assessee needs to file Form GSTR-3B returns. Unlike other GST forms, Taxpayers need not provide any invoice details while filing GSTR-3B returns. GSTR 3B due date is mentioned at the bottom while it must be filed every 20th, 22th, 24th of the subsequent month.
Who should file GSTR-3B?
A GST registered individual has to file GSTR-3B return including zero returns. Although other enrolled people do not have to file GSTR-3B.
- Input Service Distributors & Composition Dealers
- Suppliers of OIDAR
- Non-resident taxable person
Where Can one File Form GSTR-3B?
Through the GST portal Form, GSTR-3B can be filed in the return section. The option of post-login mode one can access it by clicking to the services > Returns > Returns Dashboard. After choosing the fiscal year and tax period, Form GSTR-3B, (if applicable), for the provided period.
When Do I Need to File Form GSTR-3B?
The 20th day of the month is the issued date for filing the Form GSTR-3B succeeding the month (tax period) concerning the return. Although the issue date for filing the GSTR-3B form will be extended by the government.
Is it important to file Form GSTR-3B however there is no business for the particular tax period?
The filing of GSTR-3B is important both for normal and casual taxpayer even in the condition of no businesses in the particular tax period.
How can one create save, pay taxes and file Form GSTR-3B return?
Form GSTR-3B is a simplified summary return which states that the taxpayers declare the summary of GST liabilities for the specific period and relive liabilities. The normal taxpayer is needed to file Form GSTR-3B returns for each tax period.
GSTR-3B vs GSTR-1: Comparison
Settlement of GSTR-1 with GSTR-3B is required:
- Save penalty and interest with regard to the lesser payment of tax.
- Determine if any invoice gets dropped out or repeated.
- Give permission to claim for an accurate input tax credit on the basis of GSTR-2A.
- Get under the GST complaint along with improvement in GST agreement rating.
GSTR 3B Due Date For February 2020 to April 2021
|Annual Turnover||Month with Extended Due Dates|
|Annual Turnover of more than INR 5 Cr in Previous FY||
May 2020 – 20th June 2020, June 2020 – 20th July 2020, July 2020 – 20th August 2020, August 2020 – 20th September 2020, September 2020 – 20th October 2020 October 2020 – 20th November 2020 November 2020 – 20th December 2020 December 2020 – 20th January 2021 January 2021 – 20th February 2021 February 2021 – 20th March 2021 March 2021– 20th April 2021 April 2021– 20th May 2021| “For the taxpayers having an aggregate turnover of more than Rs 5 Cr. in the preceding financial year, who fail to furnish the return in FORM GSTR-3B for the months of May, 2020 to July, 2020, by the due date but furnish the said return till the 30th day of September, 2020, the total amount of late fee shall be capped at Rs 500 per return and shall stand fully waived for those taxpayers where the total amount of tax payable in the said return is Nil.”
|Annual Turnover Less Than 5 Crore||
State 1 Group (Gujarat, Maharashtra, Karnataka, Telangana, Goa, Kerala, TamilNadu, Andhra Pradesh, the Union territories of Daman and Diu and Dadra and Nagar Haveli, Chhattisgarh, Madhya Pradesh Puducherry, Andaman and Nicobar Islands or Lakshadweep)
State 2 (Delhi, Punjab, Jharkhand or Odisha,Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Manipur, Mizoram, Tripura, Meghalaya,Sikkim, Arunachal Pradesh, Nagaland, Assam, West Bengal, the Union territories of Jammu and Kashmir, Ladakh, Chandigarh or Himachal Pradesh)
Note: Interest 9% after extended due date to 30-09-2020 and 18% thereafter Read Notification
|December 2019||20th January 2020|
Note: GSTR 3B Based On Categories Of Taxpayers
Amidst the struggle faced by taxpayers in terms of GST filing, the tax administration has now decided to provide some relief in the form of extended due dates. The government has given three due dates for filing GSTR 3B.
Taxpayers with an annual gross of Rs. 5 Cr or more (in the previous year) and from any part of the country are obliged to file the returns by 20th of the relevant month without late fees.
Similarly, taxpayers with an annual gross of less than 5 Cr and from 15 states are obliged to file returns by 22nd of the relevant month.
Lastly, taxpayers from 22 states and annual gross of less than 5 Cr in the previous year are required to file the returns by 24th of the relevant month. Official Press Release
- “NIL Return Filing Via SMS for GSTR 3B, CMP 08, etc”. Read Official Gazette
- “Extension the time limit for furnishing GSTR 3B form till March 2021“. Read Official Gazette “GSTR-3B Late fees amnesty ended on Sept 30, 2020. Earlier provisions on late fees being computed”
- “Quarterly filing of GSTR-1 & GSTR-3B for taxpayers with aggregate turnover of less than Rs. 5 Crores from 1st January 2021. However, payment of tax would be made monthly through challan”.Offical Press Release
- ““Seeks to amend notification no. 52/2020-Central Tax in order to provide conditional waiver of lat fees for the period from July, 2017 to July, 2020.”Offical Press Release
- “Taxpayers who are yet to file Form GSTR-3B for any month(s) from July, 2017 till Jan., 2020, can now file Form GSTR-3B from 1st July, 2020 till 30th Sept., 2020, without any late fee, for those months in which they did not have any tax liability. However, for the months they had a tax liability, their late fee is capped at Rs 500 per return.” Offical Press Release
- “Seeks to provide one time amnesty by lowering/waiving of late fees for non furnishing of FORM GSTR-3B from July, 2017 to January, 2020 and also seeks to provide relief by conditional waiver of late fee for delay in furnishing returns in FORM GSTR-3B for tax periods of February, 2020 to July, 2020” Read Notification
- “Seeks to extend due date for furnishing FORM GSTR-3B for supply made in the month of August, 2020 for taxpayers with annual turnover up to Rs. 5 crore.”Read Notification
- Due date extended for furnishing FORM GSTR-3B, Jan-March, 2020 returns for the assesses registered in Ladakh” Read Notification
- The deadline for filing the return under Form GSTR 3B of Central Goods and Services Tax (CGST) Act 2017, falling between March and May 2020, is extended to the last week of June 2020.
- Taxpayers with the aggregate income or annual turnover less than 5 crore per annum has the last due date of GSTR 3B till last week of June 2020 for the month of March April and may. Also there will be no penalty or fees will be levied on this taxes while for the other taxpayer for the same month filing there will be 9% of less Interest rate after the 15 days after the 30th last due date.
- The deadline for filing the returns under form GSTR 3B for the period of April 2020 to September 2020 were prescribed under the notification.
- The assessees registered under CGST Act, 2017 were required to file the return under form GSTR 3B before 24th March 2020 for the period of July 2019 to September 2019. The assessees having the business from the region of Jammu and Kashmir were exempted from the return. The required assessees were needed to file the return online before the due date.
- The assessees registered under CGST Act, 2017 were required to file the return under form GSTR 3B before 24th March 2020 for the period of October 2019 to December 2019. The assessees having the business from the region of Jammu and Kashmir were exempted from the return. The required assessees/lwere needed to file the return online before the due date.
Interest on Late GST Payment & Missing GST Return Due Date Penalty
Important things relating to GSTR-3B:
1. In the state of tax liability, late fees for delayed filing of GSTR-3B is Rs 25 (CGST) and Rs 25 (SGST) i.e Total Rs 50 per day.
2. In the state of nil liability late fees for delayed filing of GSTR-3B is Rs 10 (CGST) and Rs 10 (SGST) i.e Total Rs 20 per day.
3.The enrolled person who abandoned to furnish the return in FORM GSTR-3B for the months of July 2017 to January 2020, within the issued date and furnishes the said return between the period from 01st day of July 2020 to 30th day of September 2020.” than the late fee payable for the same are:
|Particulars||Late fee payable|
|In the case of Nil liability||Nil|
|In case any tax payable||Maximum cap of Rs 250 (CGST) and Rs 250 (SGST) that Rs 500 per return|
4. The individual in point 3 cannot avail Input Tax Credit for the year 2017-18, 2018-19 as the time limit for availing of ITC for both the years has lapsed which points that whole tax needs to be paid in cash.
Registered GST Taxpayers who failed to pay taxes on or before the due rescheduled date will have to pay an additional late fee amount at 9% per annum, the levied 9% interest is just half of the current Intrest rate which was 18%.
For example, If you get failed to pay your taxes on or before the due date, you will have to pay an additional 1000*09/100*1/365 = Rs. 0.24 per day without relaxation at 18% it was 1000*18/100*1/365 = Rs. 0.49 per day as the late fee, Intrest, or penalty.
- Rs. 1000 is the tax liability amount
- 1 is the number of delayed days and
- 18 is the rate of interest (annual).
For more details of GST interest late fee and penalties, you can visit Here
However, if the taxpayer failed to file his/her return within the due dates stated above then he will be liable to pay a late fee of Rs. 50/day i.e.(Rs. 25 per day in CGST and Rs. 25 per day in SGST) if applicable and additionally Rs. 20 per day i.e. Rs. 10/day in each CGST and SGST in case of Nil tax liability. The interest can go at a maximum of Rs. 5000/-, calculated from the due date till the date of returns filed.
The Central Government and the GST council thought about the pressure on the taxpayers and offered some relief, the first one is by reducing the Intrest rate to half and removing the late fees on GSTR 3B filing for the month of August and September. We would also like to inform you that if the taxpayers already paid the late fees, then the paid amount will be credited back to the taxpayers’ ledger.