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GSTR 3

Jun 10, 2022

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One of the important components of GST is the filing of GSTR 3. As in India any individual and business crossing the threshold aggregate limit must register under GST, similarly filing up the correct GSTR form is mandatory. Apart from individuals and businesses, casual taxable persons & non-resident taxable individuals should also mandatorily 

Among all other GSTR forms, GSTR3 is one of them that has to be filed by all the regular taxpayers. Given the condition that GSTR 1 and GSTR 2 have been filed before filing GSTR3. This return shows the GST liability of an individual for a given month. While filing GSTR3 most of the information which is already been filled, is automatically filled in the GSTR3 form.  In short GSTR3 captures both inward & outward supply, that is, sales & purchases respectively.  

Pre-Requisite for GSTR 3

Some of the pre-required conditions which should be full-filled before filing GSTR-3 are stated below:

  1. Individuals or businesses should be registered under GST.
  2. Prior to filing GSTR-3, GSTRs 1 & 2 has to be filled up.
  3. The taxpayer should have an active Digital Signature Certificate (DSC), or Electronic Verification Code (EVC).
  4. GSTR 3 of the previous period should be filed.
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    Who should file for GSTR3?

    Individuals or businesses which are registered under GST, whether they have carried out a transaction or not in a given period have to file GSTR3.

    Apart from them some of the exceptional cases are:

    1. Supplier of Online Information and Database Access or Retrieval Services (OIDA)
    2. Input Service Distributors.
    3. Entity liable to collect & deduct TCS & TDS respectively.
    4. Composition dealers.
    5. Non-resident taxable person.

    Steps to file GSTR3

    Some of the basic steps which are involved in the process are as below:

    1. One has to visit the government website (https://www.gst.gov.in/)
    2. Under the services section under the tab click on Returns. Select the desired month of filing, then click on “Select”.
    3. In Monthly Return, click on “Generate”. After that, Taxpayer will be directed GSTR-3 dashboard. (A short summary will be generated with comprise of details which are already taken from GRST 1 & GSTR 2).
    4. After checking the tax details, click on Preview. When liability is calculated, the return is credited and the taxpayer after that can affix their DSC.
    5. Finally, click “File GSTR3”.
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      Due Dates of filing GSTR 3

      The due date for filing GSTR3 was the 20th of every month but now, GSTR3 filing is suspended.

      Due Dates of filing Revised Return

      One can file a revised GSTR3 at the end of 60 days, that is, the return of 30th September will be filed on 30th November.

      Currently, GSTR3 filing is suspended, so one doesn’t need to take care of the last day of filing or revised return date.

      Additional Information to be Put-up in GSTR3

      The following additional information that has to be put up while filing up GSTR3 are as below:

      1. Information about tax payable & paid.
      2. Information related to debit entries in electronic cash/ credit ledger for tax/ interest payment.
      3. Information related to interest, late fee, and any other amount payable & paid.
      4. And information related to debit entries in electronic cash/ credit ledger for tax or interest payment.
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