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GSTR-3B is a self -assessed monthly return in which the summary of inward and outward supplies needs to be declared by the businesses. However, the invoice-wise details in Form GSTR-1, are required to be filed either quarterly or monthly.
In this blog, let us understand how to fill Form GSTR-3B.
If you are using TallyPrime, you can skip the rest of this blog post. Our new release to supporting Form GSTR-3B is available now - Download.
Form GSTR-3B consists of 6 Tables. You need to capture the consolidated details of outward supplies, inward supplies, eligible ITC, and the details of tax payment. Let us discuss this in detail:
In the above table (3.1), you need to capture the total taxable value (both intrastate and interstate) of the following Nature of Supplies along with the total tax (IGST, CGST, SGST/UTGST) as applicable:
From the outward supplies details declared in table 3.1, discussed in point No. 1, you need give a break-up of the interstate outward supplies made to Unregistered Persons, Composition Dealers and UIN Holders. These details needs to be captured State-wise/ Union-Territory-wise total with taxable value and total IGST levied on these supplies.
In the above table, you need to capture the details of ITC availability, ITC to be reversed, and arrive at the Net ITC available. The following are the details you need to capture:
The ITC available as reported in Table 4(a) needs to be reduced by the amount of ITC to be revered as reported in above table. The balance will be your eligible ITC.
You need to capture the details of inward supplies made from the composition dealer, inward supplies at nil rate and exempt. Also, you need to separately mention Non-GST inward supplies. The value of above discussed supplies need to be captured separately for interstate and intrastate supplies.
In the above table (6.1), you need to declare the self-ascertained tax payable. This is based on the details of outward supplies and inwards supplies liable to be paid on reverse charge captured in Table No. 3.1. The tax-wise break-up of payment tax by way of utilization of ITC and cash deposit needs to be provided.
In the above table, you need to capture the details of TDS (Tax withheld by the Government establishment) and TCS (Tax withheld by E-commerce operator). However, these provisions are deferred from initial rollout of GST. Accordingly, TDS and TCS is not applicable till it is notified further.
Note: The Value of Taxable Supplies refers to Net Taxable value and formula to calculate is given below:
Taxable value = Value of invoices + value of Debit Notes – value of credit notes + value of advances received for which invoices have not been issued in the same month – value of advances adjusted against invoices.
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