How to file GSTR 3B:
Before we talk about the how-to file GSTR 3B we have understood what is GSTR 3B? Basically, the GSTR is the consolidated return summary of the inward and the outward supplies that our government of India has introduced as the way of the relax for the business owner or this is filling the requirement for the business that has joined the GST transitioned recently.
There are lots of the business may be small- or large-scale business in India, maximum they are using the old manual accounting methods. Which is not good for the accuracy and there filling return within the July 2017 deadline but this deadline is maybe different for a different kind of the business. So, you are in 2019 so after the deadline of the accounting era in July 2017, all the tax payment will be based on the simple and return and this is called the GSTR-3B. following is the Prerequisites for filing the GSTR-3B in 2019:
• Any GSTR-3B form that should be submitted by any business that will be liable to the file of the monthly return GSTR-1, GSTR-2, GSTR-3.
• The GSTR-3B form can be filled easily online through the GSTN portal which is good for the convince. All the tax payable should be paid through the challan in all band or any online payment.
• There are too many ways to verify your return, firstly you need an OTP from your registered mobile number to verify your return by using an (ElectronicsVerification Code) EVC. Secondly, or you can also use the Digital Signature Certificate (of Class or Higher). And otherwise you also have another option for this, that is you can also use your Aadhar card based on e-sign for filing your GST return. Step to how to file GSTR-3B:
1. Details of your sales and purchases which are liable for reverse charge:
• You need to provide the sales supplies include items and the services that are the exported by you to overseas • this is important to remember the nil-rated while filing GSTR-3B. Because Exempted goods/services under the GST are not the same.
• Non-GST sales supplies also need to include for example petrol.
2. Details of inter-state sales made to unregistered buyers:
• All the supplies are made to unregistered people (include unregistered businesses and the customer also.
• All the supplies are made to the composition taxable peoples (All registered business who have opted for this composition schemes.
• And any specialized agency that is related to the United Nations Organization.
3. Eligible ITC (Input Tax Credit): The final tax payment of any businessman and the credit will be calculated based on your income tax credit (ITC). We will tell you in this section what kind of details you have to enter in this box.
A) ITC available (Full or Part):
• Inward supplies from Input Service Distributors
• Enter the tax amounts related to the import of goods
• import of services • that are not included under subsections
B) ITC reserved for the rules 42 and the rules 43 under the GST Rules: Under this both rules you have furnished the details of the capital goods/services that have been utilized for all the non-business purposes.
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