All You Need to Know About GSTR-3B Filing by Startup Slick Account

Under this GST regime, it’s mandatory for every business to register them under GST. Currently including GSTR-3B companies have to file three other returns i.e. GSTR-1, GSTR-2, and GSTR-3. Since, the government is taking huge steps towards the betterment of the economy through rise in startups, it is essential for all business to follow the GST rule. This is more important for the startups as GST is considered as a business friendly tax as it is one single tax build up of the other indirect taxes like VAT, service taxes, etc. The small scale business will find their situation more stable as GST saves the extra paperwork of all the different taxes. But GSTR-3B is not mandatory for all there are some exceptional cases. Let's find out who all can exempt GSTR-3B filing:

• Input service distributors
• Composition dealers
• Suppliers of online information and database access or retrieval services (OIDAR)
• Non-resident taxable persons 

Keynotes related to GSTR 3B

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# GSTR-3B needs to on 20th of every month. If a business fails to file GSTR-3B then he has to  pay  18% of tax as penalty charges.

# GSTR-1 can be filed using same data filed in GSTR-3, and GSTR-3B needs file separately for  each GST number

# This filing can’t be revised, unlike other filings. GSTR-3B can be revised only through GSTR-1,  GSTR-2 & GSTR-3 filings

# GSTR-3B need to file every month up to June 2018, and all taxes need to be paid before filing  GSTR-3B

# GSTR-3B is a summary of all other filings. So, in GSTR-3B input total sales figures, purchase  amount, input tax credit amount & total payments.

# GSTR-3B can’t be used to claim any refund. For migrated taxpayers, it's necessary to provide  all details mentioned in REG-26 to file GSTR-3B

# It need to file on govt. GST portal i.e. gst.gov.in

Now how to file GSTR-3B? Detail GSTR-3B filing process on Government portal

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1) After going to gst.gov.in, find RETURNS under SERVICES button, then click on Returns  DashBoard and fill the required period for return filing. Here you need to enter the Return Filing  Period & Respective Year details to start the return filing process. Then click the SEARCH button

2) Now you will see various returns filing buttons. You need to select the GSTR 3B return filing  box and click on PREPARE ONLINE, then Click on OK button to proceed. This will redirect you to  a page where you need give answers to a lot of questions to reach to the relevant section.  Answer all questions and click on next to proceed

3) You will see the GSTR-3B page to provide inward supplies, outward supplies etc. details

4) Now you will see different tiles with different heads, click on the respective tile and fill up    details, and you will see all details entered under respective heads. Then do a proper review  and click on SAVE GSTR-3B

5) You can also preview the details submitted by you, click on PREVIEW DRAFT GSTR-3B  and  verify all details, then a PDF will pop up showing tax details

6) Click on PROCEED TO PAYMENT. You will see cash & ITC available on the respective date. Now  check if the available cash balance is enough to pay liabilities or not. If the available cash        balance is less then you may create a challan for rest amount. Click on MAKE PAYMENT/POST  CREDIT TO LEDGER button to pay off the liabilities or to claim  credit in case of no liabilities.

7) Now you will see a message asking a  confirmation to credit claim & utilization. Click on YES  button. Go to the bottom of the page and you will see a declaration message with a checkbox.  Now click on PROCEED TO FILE button

8) Click on the box and select the authorized signatory. Bottom of that you will see two options  one is FILE GSTR-3B WITH DSC and other one FILE  GSTR-3B WITH EVC. Click on the  appropriate button

9) You will receive a warning message asking whether to proceed with GSTR-3B filing or not.  Click on PROCEED. Enter the OTP sent to the registered mobile number & email id of the  authorized signatory. Now you will receive a confirmation message and the status of GSTR-3B  return will change to FILED.

*You can also view the return details by clicking on VIEW GSTR-3B

GSTR-3B filing dates

• For the month of July 2017 – 20th & 28th of August 2017
• For the month of August 2017 – 20th September 2017
• For the month of September 2017 – 20th October 2017
• For the month of October 2017 – 20th November 2017
• For the month of November 2017 – 20th December 2017
• For the month of December 2017 – 20th January 2018
• For the month of January 2018 – 20th February 2018
• For the month of February 2018 – 20th March 2018
• For the month of March 2018 – 20th April 2018
• For the month of April 2018 – 20th May 2018
• For the month of May 2018 – 20th June 2018
• For the month of June 2018 – 20th July 2018

GST has made a lot of difference in the eCommerce arena as it saves the businessmen from dealing with the pile of paperwork. Previously, a business has to be registered again and again for different types of taxes, but it is not the case anymore. Filling the GST form is essential for every business. So now you know how to file GSTR-3B without facing any issues. You would also need various accounting reports at the time of GSTR-3B filing. You can get all these GST related reports at SlickAccount. It's the leading cloud accounting software, and provides all kind of reports for easy GST return filing. 

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