This GSTR-3B is filled monthly by regular dealers the duration of July 2017-june 2018
The form is found in 6 sections.
In this article we are going to look at the sections in details and what the form contains.
- Give out GSTIN (provisional ID can be used if you don’t have the form)
- The registered person legal name
- Inward and outward supplies on reverse charges. That is payable tax by you .the details are loosen up into the following
You must give out total taxable value .then continue to divide this into IGST,CGST,SGST.
Its not a must for invoice level details .details to be provided are consolidated values .GST rates is not a must only the total tax value .
- Outward taxable supplies – you should include these supplies with GST . Don’t add supplies with zero rates or have zero rate of tax .you should provide this separately.
Value of taxable supplies = value of invoice + value of debit note – value of credit notes + value of advanced received for which invoice have not been issued in the same month – value of advanced adjusted against invoices.
Information of advanced as well as adjustments of advanced against invoices are not required to be separately shown .
(b) Outward taxable supplies – add only those supplies on which GST rate is zero. Zero-rated supplies are exports or supplies made to SEZ.
(c) Other outward supplies– contain goods which are not from GST or they zero rated. supplies that are zero rated are those for which the GST rate is Zero. Or which have been kept apart from GST. like. salt, fresh milk. These supplies are excluded from GST.
(d) Inward supplies – give information of goods bought made by from dealers who are not written where reverse charge applies. In this situations, one needs to make an invoice for him or herself and pay the applicable GST rate of tax.
(e) Non-GST outward supplies – information of goods made by you is put fully out of GST. For Example, petroleum products and alcohol
3.2 Of the things supplied seen in 3.1(a) above, information of inter-state goods made to persons not registered, and UIN holders and composition taxed person
In the table provided. you should state the inter-state goods that are made to
- persons not registered
- composition dealers
- Person with a UIN
UIN holders definition is those who have a special Id Number instead of a GSTIN. These are unique departments of the UNO (United Nations Organization) , an embassy. Or any Multilateral Financial department and Organization stated under the United Nations (Privileges and Immensities) Act, 1947. Others may also be stated by the Commissioner.
- Eligible ITC
Its the information needed for input tax credit. It should be given differently for IGST, CGST, SGST, cess and UTGST. Only total values have to be reported and invoice level Details is not needed.
(A) ITC Available (can be in part or full) – This details must be simplified into ITC on:
- service import,
- import of goods,
- inward distribution on reverse charge (other than on import of goods and services reported above)
- inward distribution from the Input Service Distributor (ISD) generally your head office registered as an ISD under GST
- all other ITC
Our Will assist you solve the amount of credit to be reported here.
Input tax credit on the closing stock is not Needed to be put here, as this input tax credit must be reported first by filling up TRAN-1 and TRAN-2 forms.
(B) ITC Reversed
(1) under rules 42 & 43 of CGST Rules – These rules need that input credit should be changed for services and goods where they are not used in full for enterprises and not fully for other reasons,up to when not used for enterprises. on the other hand, input credit reversal is as important needed where goods and services are taxable, only and zero rated goods and services. On the same page, input credit is the same to capital goods used for enterprises and other reasons, for taxable, zero rated goods and services should also be Backed to the point not used for enterprises. Information method is provided on how its done.
(2) Others – Any other ITC which has been reversed in the books by you.
(C) Net ITC available (A) – (B) – This will be auto-populated by ClearTax.
(D) Ineligible ITC
(1) As per Section 17(5) – Report credit which is not given to you. Read in detail here.
Provide details of exempt, zero rated, and non-GST inward goods and services: so you need to give information of any of goods or services bought by you which are from a dealer, are exempt, zero rated and not under protection by GST at all. This details must be simplified into inter-state and intra-state.
- Payment of Tax
as per this section, one needs to bring the final tax payable on taxable goods and services that you made, it will be the same with 3.1.(a) above. The amount is uniquely brought under IGST, CGST, SGST, and UTGST. And bring the credit which has been given against these. This amount is under 4(C). The tax balance should be put personally and comes out under column 8.you must also be reported if any interest has been put.