GSTR 3B return submision

When you encounter the error message “Payment amount should not exceed the outstanding liability” while filing your GSTR-3B return, it indicates that the tax liability has been over-reported mistakenly. Here’s how you can address this issue:

Verify the Details:
First, ensure that the data you’ve entered in your GSTR-3B form is accurate and up-to-date.
Go back to the page where all the data is saved and verify the information you’ve entered.
Correct the Details in GSTR-1 and GSTR-2:
If the additional tax liability arises due to incorrect details, consider making corrections in your GSTR-1 and GSTR-2 forms.
Ensure that the integrated tax amount provided does not exceed the integrated tax liability declared in Table-3.1 of your return1.
Adjust in the Next Return:
If it’s not possible to adjust the excess payment immediately, you can offset the exceeding amount in the next month/quarter’s return.
Alternatively, you may claim a GST refund for the excess amount.

The Central Board of Excise and Customs (CBEC) has made a list of forms for GST filing. Form GSTR 3B is among the most important of the lot if you are registered under the GST regime. In GSTR 3B, there are two types of turnover fields with different due dates. For businesses with an annual turnover of over INR 5 crore in the previous fiscal year, the monthly filing deadline is February 2024, which is on 20th March 2024. For those with an annual turnover of up to INR 5 crore in the previous fiscal year, there are two options - either monthly filing with the same deadline as above or quarterly filing for January - March 2024. However, this quarterly filing option is only available for certain states and other group states.

In this article, we will discuss the importance of the return filing due date for GSTR 3B. The deadlines for GSTR 3b filings are determined based on the aggregate turnover of businesses.

Gstr 3B SUBMISSION IS A LENGHTY PROCESS