financial services · GST

Alert: File your GSTR-3B Before 20th Sep ’19’ and Avoid Penalty

Penalty ITR creative for blog

The last date to file GSTR-3B for the month of August 2019 is 20th September ’19’. In case you miss the deadline for GSTR-3B, you will be legally responsible to pay a late fee and penalty charges. As per the Central Board of Indirect Taxes and Customs, the delay will impose a fine of Rs 50 per day whereas Taxpayers with Nil Tax Liability will be fined Rs 20. The application will be auto filing by nature. The taxpayers just need to provide the sales and purchase value for the same. Furthermore, the GSTR-3B must be filed every 20th of the subsequent month.

On top of that, in a major relief move, the taxpayers who file nil returns now need to file a simple return form with minimum details. Before this implementation of new functionality, nil return taxpayers are relieved of the erstwhile extra details that had to be provided.

Reconciliation of GSTR-1 with GSTR-3B is needed to:

  • Rs. 50 per day of delay
  • Know if any invoice is missed out or duplicated
  • Rs. 20 per day of delay for taxpayers having a Nil tax liability for the month
  • Interest @ 18% per annum is payable on the amount of outstanding tax to be paid.

Who should file GSTR 3B?

GST mandates that every individual who has registered for Goods and Services Tax (GST) is eligible to file the return GSTR-3B including nil returns. However, the following registrants do not have to file GSTR-3B

  • Supplier of OIDAR
  • Non-resident Taxable person
  • Input services Distributors & Composition Dealers.

Details to be mentioned in GSTR-3B Form

GSTR-3B is divided into six categories and each section contains particular fields which should be mention by the person applied for filing of GSTR-3B-

Here’s what you need to mention under GSTR-3B-

  • Primarily, provide GSTIN in case you do not have a GSTIN than you can use your provisional id as your GSTIN.
  • The next field is to enter the legal name of the registered person. Moreover, the field is auto-populated after entering GSTIN
  • Outward supplies and inward supplies on reverse charge i.e. Details where tax is payable by you



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