What is a Gstr-3?
The GSTR-3 is a document containing the details of all transactions during the month, including purchases, sales, and interstate movement of stock for a particular month. This return is auto-generated based on the information available inside the GSTR-1 and GSTR-2 that have been filed for the same tax period.27-Aug-2021
All regular taxpayers registered with GST must file GSTR-3 returns. In India, any person undertaking the taxable supply of goods and services over Rs. 20 lakhs in most states must register under GST. However, the Ministry of Finance fixed the aggregate turnover limit as Rs.
What is Gstr 3B full form?
What is GSTR-3B? GSTR-3B is a monthly self-declaration to be filed by a registered GST dealer along with GSTR 1 and GSTR 2 return forms. It is a simplified return to declare summary GST liabilities for a tax period.26-Apr-2021
The taxpayer can file GSTR 3b from 1st July 2017 to January 2020 without late fees from 1st July to 30th September.08-Jul-2022
What are the 3 types of GST?
Currently, the types of GST in India are CGST, SGST, and IGST. This simple division helps distinguish between inter-state and intra-state supplies and mitigates indirect taxes. To learn more, read about these three different types of GST.
Form GSTR-4 (Annual Return) is a yearly return to be filed once, for each financial year, by the taxpayers who have opted for composition scheme during the financial year, or were in Composition scheme for any period during the said financial year, from 1st April, 2019 onwards.
What is the difference between Gstr 3 and Gstr 3B?
GSTR 3 is a monthly return. GSTR 3B is a self-monthly declaration. In case any changes need to be made in GSTR 3 then it cannot be revised once it's submitted, it can be changed in next month. Once filed GSTR 3B cannot be revised.12-Dec-2018
GSTR-3B is a monthly return. All regular taxpayers need to file this return till March 2021. You can file your return on GST Portal.23-Feb-2022
How is Gstr 3B interest calculated?
The interest will be calculated per section 50 of the CGST Act, 2017. Interest will be auto-calculated and displayed in Table 5.1 of GSTR-3B – Interest and late fee for the previous tax period. Interest calculated for each tax period will be totalled, and the same will reflect in the respective cells.16-Feb-2022
₹ 5 Crore
Who can file Gstr 3B monthly?
If you are a registered taxpayer with a valid GSTIN number, you compulsorily have to file the GSTR-3B returns, even if you are not liable to pay any GST for that month. However, you do not need to file GSTR 3B returns if you are: A taxpayer registered under the composition scheme. An input service distributor.
GSTR 3B shows supplies during the month together with GST paid, Input Tax Credit availed, and reverse charge purchases etc. On the other hand, GSTR 1 is a monthly/quarterly return that shall be filed by taxpayers. GSTR 1 helps in disclosing details of monthly/quarterly sales and tax liability.26-Aug-2022
Is Gstr 3B mandatory?
Filing GSTR 3B form is mandatory for all those who have registered for the Goods and Services Tax (GST). The GSTR 3B is a simple tax return form introduced by the Central Board of Excise and Customs (CBEC) for the month of July and August.16-Nov-2017
(a) In case of nil GSTR-3B filing, the maximum late fee charged shall be capped at Rs. 500 per return (i.e Rs. 250/- each for CGST & SGST).28-Mar-2022
What is RCM in GST?
Reverse Charge means the liability to pay tax is on the recipient of supply of goods or services instead of the supplier of such goods or services in respect of notified categories of supply.
There are four different types of GST as listed below:
What are the 4 slabs of GST?
The GST council has fitted over 1300 goods and 500 services under four tax slabs of 5%, 12%, 18% and 28% under GST. This is aside the tax on gold that is kept at 3% and rough precious and semi-precious stones that are placed at a special rate of 0.25% under GST.
HSN stands for Harmonised System of Nomenclature code. This is a 6-digit code that classifies various products. Manufacturers, importers and exporters have been using HSN codes for a long time now.01-Apr-2021
What is Gstr 2B?
GSTR-2B is an auto-drafted ITC statement which is generated for every normal taxpayer on the basis of the information furnished by his suppliers in their respective GSTR-1/IFF, GSTR-5 (non-resident taxable person) and GSTR-6 (input service distributor).
GSTR-8 is a type of GST return that must be filed by all e-commerce operators registered under GST for collection of TCS. GSTR-8 filing will comprise of details like the amount of tax collected at source from e-commerce sellers and their GSTIN.
What is Gstr 4A return?
Form GSTR-4A is an auto-drafted and view only form for composition taxpayer, created on basis of data from the saved/submitted/filed Form GSTR-1 & 5 of their suppliers, where composition taxpayer is the recipient. The composition taxpayer cannot take any action in Form GSTR-4A and this form is only for view.
What is a Gstr-3?