The Goods and Services Tax Network (GSTN) has introduced a new facility to make tax filing more efficient for taxpayers. The GST Portal now features a pre-filled GSTR-3B form, which automatically populates tax liability from the declared supplies in GSTR-1, GSTR-1A, or IFF (Invoice Furnishing Facility), and pulls Input Tax Credit (ITC) details from GSTR-2B. This enhancement helps reduce manual errors and makes the filing process easier.
The pre-filled GSTR-3B form is part of the GSTN’s ongoing efforts to improve the return filing experience. A detailed PDF is generated for each taxpayer, providing all the required information, reducing the need for manual data entry, and minimizing the risk of inaccuracies.
New Facility: Streamlined Correction and Management
Taxpayers can now rectify inaccuracies in their outward supply details before filing GSTR-3B. The new feature allows corrections to be made in GSTR-1 or IFF through GSTR-1A. In addition, taxpayers can use the new Invoice Management System (IMS) to manage their inward supplies effectively and ensure accurate ITC claims. With IMS, taxpayers can make informed decisions regarding accepting, rejecting, or putting inward supplies on hold.
Starting in January 2025, the GST Portal will restrict changes to auto-populated values in the pre-filled GSTR-3B from GSTR-1/1A/IFF or GSTR-2B. Any necessary corrections must be made through GSTR-1A or IMS. This move aims to enhance the overall accuracy of return filing and reduce discrepancies.
Understanding Form GSTR-3B
Form GSTR-3B is a simplified return that allows taxpayers to declare their summary GST liabilities and discharge them for a particular tax period. All normal and casual taxpayers are required to file Form GSTR-3B for each tax period.
Filing GSTR-3B: A Quick Guide
Taxpayers can file Form GSTR-3B through the GST Portal’s returns section by following these steps:
- Access the Returns Dashboard: Log in to the GST Portal and go to Services > Returns > Returns Dashboard.
- Select the Filing Period: Choose the relevant financial year and tax period.
- File the Form: If applicable, Form GSTR-3B will be available for filing.
The due date for filing GSTR-3B depends on the taxpayer type:
- Monthly Filers: The due date is the 20th of the month following the tax period.
- Quarterly Filers: The due date can be either the 22nd or 24th, depending on the state or union territory.
- The government may extend due dates via notifications if needed.
Filing Nil GSTR-3B
Taxpayers with no GST liabilities for the period can file a nil GSTR-3B return. This can be done via the GST Portal by selecting Yes for the option ‘Do you want to file Nil return?’ and signing electronically. Alternatively, the return can also be filed via SMS for added convenience.
System-Generated GSTR-3B
After filing GSTR-1 and generating GSTR-2B, the system-generated Form GSTR-3B will be available on the taxpayer’s GSTR-3B dashboard. The auto-populated values are currently editable, allowing taxpayers to make necessary adjustments. If values are edited, the corresponding field is highlighted in red, and a warning message is displayed to ensure taxpayers are aware of changes.
Upcoming Restrictions on Changes
Starting in January 2025, the GST Portal will restrict manual changes in the auto-populated values of pre-filled GSTR-3B forms. Taxpayers must use GSTR-1A and IMS tools to make any necessary corrections before this deadline to ensure accuracy in their returns.
Key Takeaways
- Pre-filled GSTR-3B: Automatically pulls data from GSTR-1, GSTR-1A, and GSTR-2B to simplify return filing.
- New Features: Invoice Management System (IMS) and GSTR-1A allow for corrections and efficient handling of inward supplies.
- Upcoming Changes: Starting in January 2025, manual changes to pre-filled forms will be restricted, and taxpayers must use GSTR-1A or IMS for corrections.
These changes reflect GSTN’s ongoing commitment to improving the accuracy and convenience of the tax filing process for taxpayers across India.