Skip to main content

HOW TO FILE GSTR 3B RETURN ON GST PORTAL – VGNC

 GST: Guide for filling GSTR-3B

As GST has rolled out from July 1st, 2017 GSTR 3B is its first return to be filed by the assesses. Many of the assesses are facing issue in filling its GSTR 3B. Here is the step by step guide :

1. After login, select Return Dashboard.

2. Select Financial Year 2017-18 and Month July. Click Search and Select GSTR-3B.

3. Declare your liabilities and ITC claims in Section 3.1 and 4 respectively by clicking on the tiles and furnishing the required information. Transitional ITC cannot be claimed in GSTR 3B. It can be claimed only through TRANS 1.

4. Enter details of interest, if payable, in Section 5.1. Late fee will be computed by the system.

5. Click on Save GSTR-3B button. After you save the data, Submit button will get enabled. Please note that after submit, no modification is possible. Hence ensure that details are filled correctly before clicking on Submit button.

6. On clicking Submit GSTR-3B button, System will post (debit) the self-assessed liabilities including system generated late fee in Liability Register and credit the claimed ITC into ITC ledger.

7. After this the Payment of Tax tile will be enabled, please click it and declare your payment details to pay the taxes and offset the liability in Section 6.

8. Click CHECK BALANCE button to view the balance available for credit under Integrated Tax, Central Tax, State Tax and Cess. (This includes transitional credit also, if TRAN-1 are submitted). This will enable you to check the balance before making the payment for the respective minor heads. The balance is also displayed when the mouse is hovered on the applicable data entry field in payment section.

9. Please fill out the section that specifies how you wants to set-off your liabilities using a combination of Cash and ITC.
a. System checks if you have sufficient Cash/ITC balance.

b. It also checks if the Reverse charge liabilities are set-off only through CASH.

c. System also checks if all liabilities are set-off. Part payment is not allowed in GSTR-3B. Hence, ensure sufficient balance in cash and ITC Ledger to offset liability

d. In case of ITC utilizations, the system checks the prioritization rules viz. IGST Credit has to be first utilized for paying IGST liability and remaining for CGST liability and thereafter SGST liability; SGST credit has to be first used for paying SGST liability and then IGST liability; CGST Credit has to be first used for CGST liability and the remaining for IGST Liability; SGST credit cannot be used for paying CGST liability and CGST credit cannot be used for paying SGST liability.

e. Transition ITC, if available in ITC ledger, can be used for payment of liabilities of GSTR 3B

10. Click the OFFSET LIABILITY button to pay off the liabilities

11. Click on declaration statement

12. Select Authorized Signatory filing the Form

13. Click on File GSTR-3B button with DSC or EVC

14. Message for successful filing will appear and Acknowledgement will get generated.

Disclaimer: This information has been made for the educational purposes only and should not be construed as legal advice.

 We are pleased to serve you and respond your queries with regard to GST.

 

Labels:

Comments

Post a Comment

Popular posts from this blog

THE IMPACT ON AFFORDABLE HOUSING IN GST REGIME

  Measures for promoting affording housing “It is proposed to exempt service tax on construction of affordable houses up to 60 square meters under any scheme of the Central or State Government including PPP Schemes.”   After a prolonged demand from industry, the Central Government announced above incentive and vide Notification no. 9/2016 dated 01 st March 2016 came up with a scheme of exemption from service tax liability pertaining to low cost houses up to carpet area of 60 sq meters to be developed by private developers. Before any new project could have seen the light of day under new exemption notification, and start under the new scheme, there comes a GST from 1 st  of July 2017 whereby this exemption to affordable housing by private builders, from service tax stands omitted in the new list of exempted services approved by GST council. Thus the group housing projects proposed by private builders up to a carpet area of 60 square meters no longer qualify for exemption ...
Post a Comment
Read more

INTERNAL AUDIT

  WHAT IS INTERNAL AUDIT? Internal audit is an independent, objective assurance and consulting activity designed to add value to and improve an organization’s operations. The role of this audit is to provide independent assurance that an organisation’s risk management, governance and internal control processes are operating effectively. An internal audit may be used to assess an organization’s performance or the execution of a process against a number of standards, policies, metrics, or regulations. Internal audits  may include examining a business’s internal controls around corporate governance, accounting, financial reporting, and IT general controls. Auditors may cover all areas of an organization or specialize based on their skill-sets. In simple words we can say Internal audits evaluate a company’s internal controls. WHAT ARE THE TYPES OF INTERNAL AUDITS? Some types are: Compliance Audit IT Audit Operation Audit Performance Audit This allows the company’s Board and manag...
Post a Comment
Read more

HOW TO START A PRIVATE LIMITED COMPANY IN INDIA

  Gone are those days when register a private limited company in India was a big hassle altogether. At present, the whole process has become much easier in the digitized era.  Importantly enough, the whole process doesn’t take too much of a time either and a concerned person be aware of the essentials and requirement of the whole process beforehand.  The following steps will definitely be a guide in registering a private limited company in India.   Applying for Digital Signature form : A Digital Signature establishes or furnishes the identity of the sender or signee electronically while filing documents digitally.The proposed directors of the company to be formed need to apply for digital signature form, which is readily available in the authorized site.   Obtaining Director Identification Number (DIN) for proposed directors of the company to be formed : This is the first step of the whole process. What will be the number of directors and who are going to be – c...
Post a Comment
Read more