The deadline for filing the first GST return, the Form GSTR-3B ended last month on dates August, 25 and August, 28, 2017. Yet, there are many businesses which are still in the process of filing Form GSTR-3B. This being the first GST return and understating the plight of the businesses, the committee has decided to waive the late fee for all the businesses who could not file GSTR-3B for the month of July 2017. However, for late payment, an interest at maximum of 18% will be levied.
Form GSTR-3B is the first return, some mistakes or errors are expected in its filing process. Few examples are listed below.
- “I missed out on adding some outward supplies before arriving at my Outward Supplies Summary and thereby shown less tax liability. How can this be corrected?”
- “I skipped adding tax liability on account of inward supplies liable for reverse charging.”
- “ITC is declared less in Table 4 of Form GSTR-3B.”
- “There is excess claim since I missed out to reverse the ITC.”…. and so on.
No matter what the reason for mistakes, the important question is – “How to correct GSTR-3B?” How to change the details in GST-3B?
No concept of revised return in GST
Businesses need to take note of the fact that under GST, there is no concept of revised return, whether for Form GSTR-3B or your regular return which you will be filing from September onwards. This means, once you have submitted the return in the GSTN portal, you cannot modify it. The same holds good for Form GSTR-3B as well. As long as the form is in save mode (before submitting), details can be modified and corrected, but not after submitting it.
How to correct GSTR-3B?
You need not worry about this!
As you know, the Form GSTR-3B is only an interim return and the actual return for July needs to be filed in Form GSTR-1 by 10 September; Form GSTR-2 by 25 September; and Form GSTR-3 by 30 September, 2017 (revised dates). Therefore, any correction in GSTR-3B have to be reported in Form GSTR-1 and Form GSTR-2.
Any correction related to outward supplies has to be reported in Form GSTR-1. Outward supplies might have been under-reported or excess reported in FORM GSTR-3B, both of which need to be correctly reported when filing Form GSTR-1.
Similarly, any correction towards the eligible ITC, tax liability of inward supplies liable for reverse charge; or any other correction in the details of inward supplies submitted in the Form GSTR-3B, need to be reported in Form GSTR-2.
Based on the correct details declared in the Form GSTR-1 and Form GSTR-2, the revised tax liability and eligible ITC will reflect your e-ledger. Also, these details will get auto-populated in Form GSTR-3 of July 2017.
What happens, if there are any difference between the Form GSTR-3B and GSTR-1 and GSTR-2? How the matching of GSTR-3B is done with GSTR-1, GSTR-2 and GSTR-3? Watch out our next blog.
Source : http://blogs.tallysolutions.com/how-to-correct-gstr-3b/