gst filing

For particular month  GSTR3b is first filed by next 20th.

While GSTR1 was filed 20 days after filling of GSTR3b, which is now filed by 10th of next month, i.e. on  10th of June for May GSTR1.

GSTR-1 is a return where details of sales are filed with the government. No tax has to be paid after filing this return. The tax has to be paid at the time of filing GSTR-3B. (So, a working for earlier collection of tax).

While GSTR1,2,3 are the standards, but not yet fully functional, hence gstr3b combination of these 3, in summary form is introduced as temporary solution.  it's not possible to file GSTR 1 without filing GSTR 3B. Govt has come up with GSTR 3B for timely collection of GST as there was delay because of system readiness in GSTR 1 format rollout.

Rule 61(6) CGST, provides that once GSTR-3B has been filed, GSTR-3 will be auto-generated by GSTN.

• GSTR-3 will be generated after due date for furnishing GSTR-2 which shall be consisting of 2 parts i.e. Part-A & Part-B
• Part A of GSTR-3 will be auto-generated based on information provided in:
  • GSTR1 and GSTR2
  • Other liabilities of preceding tax periods
  • Part B of GSTR-3 will be auto-generated based on information provided in GSTR-3B

Yes, this is just because of changes implemented by GST council in its 27 meeting, for discontinuation of  GSTR3b...... a normallization step.... So , post 30th June, taxpayers may need to file the GSTR 2 and GSTR 3 forms which remained suspended till 30th June.

Committee has not finallized it, May be annouced soon on the completion of recordings of last financial year. Let us wait for final notification.

Is there a possibility of coming up with a new GST-R form? If yes, what will it be like?

Yes, because, as you may recall, in the beginning when the GST system was launched, we had this system of GSTR 1, 2 and 3 and then because of certain difficulties GST-R 1 and 2 were put on a hold and GSR-R 3B was introduced. So people are filing GST-R 1 and 3B. As of November, the GST Council conducted a meeting to work on single, unified GSTR form instead of GSR1, 2, 3 and 3B.

The Council asked us to go for one form and also to make that very simple. The broad design has been prepared and it has been approved by the GST Council in the last meeting and now the work is actually going on to implement this and it will also require some changes in law and rule. Of course, it will require a change in IT system. So the GST Council has given us six months; we hope to do it in that time.

The changes will broadly be similar to what people are filing, but then, it will not have something like GSTR 1, 2 and 3 where the information flows from one dealer to the other and then back and forth. It will be a unidirectional flow For example, all sellers will upload their sale in invoices or will file their sale details and they don’t need to give purchase details. The sellers will be uploading their sale details and whatever has been sold by them becomes a purchase for the other side. The buyer will get an input tax credit based on the sale invoices uploaded or sales which have been disclosed in the returns by their sellers. So it becomes a unidirectional flow and then the input tax credit will be available on the uploaded sale invoices.

I would say it is more similar to TDS and income tax.  ........... Says GST Network chairman Ajay Bhushan Pandey .......

"The return filing process is envisaged on a theoretical note, and we went for the matching on the day one it-self. The Government also its own reasons for this approach due to the black sheep in the system. Though it is a good concept, India is a large country, and many of the small and medium business is still not organized, this has resulted in pain for them to race against time and fix the issues but at the same time they have been given a golden opportunity to address their way of doing business and approach to taxation. The nation should have adopted the Malaysian Model of GST return filing, where they also have a matching and reporting of all the transactions but in a different manner. There the taxpayers were required to file a simple GST return on a monthly basis similar to our GSTR – 3B known as GSTR – 3 and an audit file is also submitted where it has all the ledger details along with the purchase and sales day book. The matching is done at the backend and if there are any discrepancies the same are communicated to the taxpayers.  A similar sort of approach should be adopted in India for eliminating the back sheep but at the same time providing the trade and industry the ease of reporting." ... GST Council on the occassion of 1 anniversary of GST