GST or the Goods and Services Tax is a comprehensive indirect tax regime that has been implemented in India since July 2017 to replace multiple indirect taxes imposed by the central and state governments. GSTR-3B is a monthly self-declaration that has to be filed by every registered taxpayer, including small and medium business owners and startup founders, to summarize their tax liabilities and input tax credit for a particular month.
As per the GST law, the due date for filing GSTR-3B is the 20th of every month. Delay in filing the return can result in hefty fines and interest charges. Therefore, it is essential to understand the step-by-step return filing procedure for GSTR-3B on the GST portal to avoid any mistakes or penalties.
The first step in filing GSTR-3B is to log in to the GST portal using your registered username and password. If you are logging in for the first time, you will need to set a new password using the OTP sent to your registered mobile number and email ID.
Once you have logged in, navigate to the 'Services' section on the top menu bar and select 'Returns' from the drop-down menu. Select 'Returns Dashboard' and click on the 'GSTR-3B' tab to access the GSTR-3B return dashboard.
The GSTR-3B return form consists of two sections - Part A and Part B. In Part A, you will have to fill in the details of your business, such as the legal name, trade name, GSTIN, etc. You will also have to fill in the details of your outward and inward supplies, input tax credit, and tax liability for the particular month.
Part B of the GSTR-3B return form includes details of the tax payment, where you will have to fill in the tax amount payable and the input tax credit utilized for the month.
Once you have filled in all the details in the GSTR-3B return form, you can preview the return by clicking on the 'Preview' button. This will help you identify any errors or mistakes in the return form before submitting it. Once you have verified the details, click on the 'Submit' button to file the GSTR-3B return form.
After submitting the GSTR-3B return form, you will be redirected to the payment page, where you can pay the tax liability for the month through various modes of payment, such as internet banking, credit/debit card, or NEFT/RTGS.
GSTR-3B is a monthly self-declaration that has to be filed by every registered taxpayer, including small and medium business owners and startup founders, to summarize their tax liabilities and input tax credit for a particular month. The step-by-step guide to filing GSTR-3B on the GST portal includes logging in to the portal, navigating to the return dashboard, filling in the details in the return form, previewing and submitting the form, and paying the tax liability for the month.
GSTR-3B Filing on GST Portal - Step by Step Return Filing Procedure