May 31, 2021
GSTR 3B is a simple, consolidated, self-declared GST summary of inward and outward supplies during a month which has been introduced for businesses to file returns without much difficulty.
A separate GSTR 3B should be filed for every GSTIN. The liability is to be paid on or before the GSTR3 B filing due date. It is to be born in mind that once GSTR 3 B is filed, it cannot be revised. Even if the liability is zero, GSTR 3B filing is mandatory.
All registered taxpayers should file GSTR 3B under GST. However, some exceptions for some registrants, there are:
From January 1, 2021, onwards, GSTR 3 B could be filed quarterly by small registered business entities with a turnover of less than 5 crores. The tax liability would be auto-populated from GSTR3B TO GSTR1 while filing returns.
Up to December 2019, GSTR 3 B's due date was the 20th of the subsequent month. From January 2020 onwards, the due date for the businesses with a turnover of more than 5 crores is 22nd or 24th of the following every quarter under the QRMP scheme. 20th of every month for the business with a turnover of less than 5 crores.
Penalty or a late fee is charged for delay in GSTR 3B filing after the due date.50 Rs per day is levied for the delay and 20rs per day for taxpayers having no liability for the month. Unless GST dues are paid before the due date, interest at 18% per annum would be levied with the amount of tax to be paid.
Reconciliation of GSTR1 with GSTR 3B is required to :
Reconciliation of GSTR2A (UPDATED ITC ) and GSTR 2B ( ITC monthly statement) with GSTR 3B is required to :