The GSTR-1 Report is mainly about the details of the sales and outward supplies, whereas the GSTR-2 involves the Report of details of purchases. In this article, we will discuss GSTR-3B, which consists of a monthly summary of sales and purchases, which is auto-populated by pulling the source of information from GSTR-1 and GSTR-2.
When to file the GSTR-3B Report?
The GSTR-3 will show the GST liability for your company in that particular month. It must be filed before the 20th of the following month.
Who should file for the GSTR-3B Report?
Every registered person is mandatory to file GSTR-3 irrespective of whether any business transactions occur during that month.
This is exceptional for selected parties mentioned below:
- Composition Dealers
- Non-resident taxable person
- Person liable to collect TCS
- Person liable to deduct TDS
- Input Service Distributors
- Any suppliers of online information and database access or retrieval services (OIDAR).
Pre-requisites for filing GSTR-3B
- A registered taxpayer with a valid 15 digit PAN based GSTIN
- You have submitted the GSTR-1 and GSTR-2.
- You can either use OTP using an Electronic Verification Code (EVC) or a digital signature certificate to verify your return.
- You can also use Aadhar based e-sign to file the return.
*Take note that you must pay off the GST liability owed to the government in that month before registering for the return.
Where to find the GSTR-3B Report on Deskera?
Go to the Report tab on the sidebar menu. Select the ‘GSTR-3B’ Report under the Tax category.
You will be directed to the GSTR-3B Report page and you will come across the information of details such as:
- Section 3.1: Outward supplies and inward supplies liable to reverse charge
- Section 3.2: Interstate supplies made to an unregistered person, composition taxable person and UIN holders.
- Section 4: Eligible ITC
- Section 5: Value of exempt, nil-rated and non-GST inward supplies
- Section 5.1: Interest and late fee payable
On the GSTR-3B report, Deskera users are able to view and check the amount allocated to each field as it is auto-populated based on the transaction they have recorded on the Buy and Sell Tab.
You also have an option to export the file in excel format by clicking on the Export button on the left side corner of the screen.