What is GSTR 3B?
GSTR-3B is a self-declared summary GST return filed every month (quarterly for the QRMP scheme). Taxpayers need to report the summary figures of sales, ITC claimed, and net tax payable in GSTR-3B.
“A separate GSTR-3B must be filed for every GSTIN”
The GST liability must be paid on or before the date of filing GSTR-3B, earlier of its due date
The GSTR-3B once filed cannot be revised
Even in case of a zero liability, GSTR-3B must be compulsorily filed.
Who should file GSTR 3B?
Every person who is registered under GST must file GSTR-3B.
However, the following registrants do not have to file GSTR-3B
- Taxpayers registered under the Composition Scheme
- Input service distributors
- Non-resident suppliers of OIDAR service
- Non-resident taxable persons
Due Dates for GSTR-3B filing
The due date for monthly filers is the 20th day of the next month, while the due date for quarterly filers is either 22nd or the 24th day of the month following the quarter, depending on the state or union territory of the principal place of business.
Late Fee & Penalty
A late fee is charged for filing GSTR-3B of a tax period after the due date. It is levied as follows:
Rs. 50 per day of delay
Rs. 20 per day of delay for taxpayers having nil tax liability for the month
In case the GST dues are not paid within the due date, interest at 18% per annum is payable on the amount of outstanding tax to be paid.
Taxpayers (including those not opting for the QRMP Scheme) filing quarterly GSTR-1 returns must still pay tax and file GSTR-3B every month.
GSTR-3B vs GSTR-2A & GSTR-2B: Comparison
Reconciliation of GSTR-2A (real-time update of ITC) and GSTR-2B (ITC statement for the month) with GSTR-3B is needed to:
Avoid notices due to excess input tax credit claims in GSTR-3B
Be informed if any genuine input tax credit is missed out on
GSTR-3B vs GSTR-1: Comparison
Reconciliation of GSTR-1 with GSTR-3B is needed to:
Avoid interest & penalties due to the short payment of tax
Know if any invoice is missed out on or duplicated
Allow the recipient to claim an accurate input tax credit based on his GSTR-2A & GSTR-2B.