What is GSTR-3B?

GSTR-3B is a simplified monthly return form filed by registered taxpayers under the Goods and Services Tax (GST) regime in India. It summarizes the total outward and inward supplies (sales and purchases) made by a business in a tax period, along with the tax liability and payment details.

Who needs to file GSTR-3B?

All registered taxpayers under GST, including regular taxpayers, composition taxpayers opting for quarterly filing, and non-resident taxpayers, are required to file GSTR-3B every month.

What information is included in GSTR-3B?

The GSTR-3B form captures the following information:

• Outward supplies: Total value of taxable sales, exempt supplies, non-taxable supplies, and value added tax (VAT) collected.
• Inward supplies: Total value of taxable purchases, exempt purchases, non-taxable purchases, and input tax credit (ITC) claimed.
• Tax liability: Total GST liability based on outward supplies minus ITC claimed on inward supplies.
• Payment details: Breakup of tax paid through different channels (cash, credit, debit, etc.).

Key points to remember about GSTR-3B:

• Due date for filing GSTR-3B is 20th of the following month (e.g., 20th October for September sales).
• Late filing attracts penalty and interest charges.
• GSTR-3B is a summary return, and detailed transactions are reported in other monthly/quarterly forms (e.g., GSTR-1 for outward supplies).
• Filing GSTR-3B is mandatory even if there are no transactions or tax liability in a particular month.
• Nil return can be filed for no transactions or liability.

Benefits of filing GSTR-3B:

• Simple and quick to file compared to other GST forms.
• Reduces compliance burden for taxpayers.
• Enables timely payment of GST liability and avoids penalties.
• Enhances transparency and data visibility for the government