GSTR-3B: These registrants should not worry about filing
Filing GSTR-3B is mandatory for GST registrants. But at the same time, there are registrants who do not have to file GSTR-3B.
One week to go for the businesses to file first Goods and Service Tax Return (GSTR) form 3B.
As per the government's notification, the last for filing GSTR-3B for July 2017 is August 20 and for August 2017 is September 20.
To make norms more strict, the government has said that those who will not file by August 20, will be liable to pay interest and a late fee of Rs 100 per day along with interest is 18% per annum. The maximum late fee will be Rs 5000.
If you are still thinking whether you are eligible to file GSTR-3B or not, then do not get confused.
Every person who has registered for GST must file the return GSTR-3B. This return form must be filed and submitted by you even if you do not have any transactions during the month of July and August.
GSTR-3B is a simple return form introduced by the CBEC for the month of July and August. You must file a separate GSTR-3B for each GSTIN you have.
GSTR-1, GSTR-2 and GSTR-3 for the months of July and August will be filed later. For now GST registrants must file GSTR-3B.
However, the following registrants do not have to file GSTR-3B
- Input Service Distributors
- Composition Dealers
- Suppliers of online information and database access or retrieval services (OIDAR), who have to pay tax themselves (as per Section 14 of the IGST Act)
- Non-resident taxable person
As this is the first time, GST return is being filed, it is advisable for traders to take experts help to avoid errors.