Let’s Analyze Form GSTR – 3B

Let’s Analyze Form GSTR – 3B

This is summarized return form to furnish summarized detail for m/o July’17 & August’17. For July’17 to be filed by 20th August’17. Final Return would be Form GSTR – 3.

  Contents of Form GSTR-3B :

1. Table 3.1 : Report Total Supply. (Including Non-GST & Inward Supply Subject to RCM). [Taxable Value & Tax – Consider all type of Invoices, Debit(-)Credit Notes, Advance Payment Voucher(-) Advances Adjusted i.e. all documents affecting value of supply taxable or non-taxable].

2. Table 3.2 : Interstate Supply to URD, CD & UIN holders. 3. Table 4 : Eligible ITC Detail. (On Import of Goods/Services, Domestic RCM, ISD & all other ITC) and ITC to be Reversed. (To avail transitional ITC, File Tran-01 when activated.)

Looks very simple, But do not forget each value reported in form 3B will be subject to reconciliation with Form GSTR-1, GSTR-2 & GSTR-3 and you have a time of one week to submit the GSTR-3B,  So My Advice is, Since format of all forms are available, start with GSTR-1 & GSTR-2, so that no gap is found later. 

4. Table 5 : Value of exempt, nil-rated & non-GST inward supplies. 5. Table 6.1 : Payment of Tax (Thru ITC or Cash Ledger) 6. Table 6.2 : TDS/TCS Credit. (Practically No Use, Since TDS/TCS Provisions have been deferred).