GSTR 3 Form in India

GSTR 3 Form

We discussed earlier various heads under GSTR-1 and GSTR-2. Details of outward supply for GSTR-1. Similarly, Details of Inward supply or purchase required for GSTR 2. Here we are discussing various heads and their information source under GSTR 3 form. Every registered taxpayer is required to file monthly return before 20th of next month.

Filling of Monthly Return under GST GSTR 3 form and Information how to fill GSTR 3 form:

1. GSTIN-(GST) Identification Number)– PAN based 15- digit Goods and Service Taxpayer Identification Number(GSTIN).
2. Name of Taxable Person – Name of the taxpayer, will also be auto-populated at the time of logging into the common GST Portal.
3. Address – Business address of the registered taxable person will get auto-populated here.
4. Period: (Month -Year) – A Taxable person is required to select from a drop down the relevant month and year respectively for which GSTR-3 is being filed.
5. Turnover Details – In this covers all kind of turnover. such as:

(a)Taxable Turnover

(b)Export Turnover

(c)Nil rated and Exempted Turnover

(d)Non-GST Turnover Total Turnover (sum of above all)

Outward Supplies

Whole GSTR-1 information comes under this, GSTR-1 requires an assessed to furnish details of outward supplies. All such information gets auto-populated under respective heading. These subheadings have been provided below:

1. Inter-State Supplies to Registered Taxable Person.
2. Intra-State Supplies to Registered Taxable Person.
3. Inter-State Supplies to Consumers.
4. Intra-State Supplies to Consumers.
5. Exports (including deemed exports).
6. Revision of Supply Invoices / Credit Notes / Debit Notes.
7. Total Tax Liability on Outward Supplies.

Inward Supplies

Similar to outward supply, every registered aborigine is appropriate to accouter data of entering accumulation in his account GSTR-2. All the advice filed beneath GSTR-2 will breeze into this heading. Below are the sub-headings wherein the advice will get auto-populated:

1. Inter-State Supplies Received.
2. Intra-State Supplies Received.
3. Imports.
4. Revision of Purchase Invoices / Credit Notes / Debit Notes.
5. Total Tax Liability on Inward Supplies on Reverse Charge.
6. ITC Reversal.

PART-B

1. Total Tax Liability for the month – Once all the outward supplies and inward supplies are declared, GSTN portal will auto-calculate the tax liability under this heading. Hear taxpayer will determine his tax liability from dealing in goods and provision of services both. Also, a separate value will be shown for CGST, SGST, and IGST respectively.
2. TDS credit received during the month – Any tax credit by way of tax deducted at source will auto-populate here from taxpayer’s GSTR-2.
3. TCS credit received during the month – If any amount of TCS collected by the E-commerce operator will be available here. This information will be filled in GSTR-2.
4. ITC received during the month – Total amount of eligible input tax credit available for adjustment will get auto-computed here.
5. Tax, Interest, Late Fee and Penalty Paid – This branch will yield ascribe from all the headings aloft and will actuate the final GST liability. Separate tax accountability will be apparent adjoin IGST, CGST, and SGST. Here the aborigine will accept the advantage to debt banknote ledger/ acclaim balance adjoin the accountability outstanding.
6. Refunds Claimed from Cash Ledger- Input Credit bulk in the balance of tax accountability will breeze to this heading. The aborigine can affirmation a acquittanced of bulk assuming in this header

Once all the particulars are furnished correctly, the taxpayer is required to sign digitally either through a digital signature certificate (DSC) or Aadhar based signature verification to authenticate the return. For online return filing click here!!!