System computed GSTR-3B | Auto calculated Liability from Monthly GSTR- 1 | System Generated PDF

System computed GSTR-3B (Table-3 for liabilities) on the basis of GSTR-1 filed by taxpayers now available on the GST portal for monthly GSTR-1 filers. 

GSTR-1 is statement of Outward Supplies where-in a Normal Registered Taxpayer has to declare outward supplies effected during a tax period.  Small tax payers can opt for Quarterly filing of GSTR-1 while others have to file GSTR-1 on monthly basis. 

GSTR-3B is monthly return where in summary of outward supplies and ITC  has to be disclosed along with the other particulars. 

For ease of reconciliation a facility has been provided by GSTIN; where-in outward supplies and Tax Payable there-on shall be auto populated in table 3 of the GSTR-3B. This facility has been made available only for those tax payers who have opted for monthly filing of GSTR-1.

Taxpayers and return preparer shall have to be caution of figures made available in this table and it can be proceed for filing only when these are reviewed and found to be correct. 

How will system computed GSTR-3B (table -3 for liabilities) on the basis of GSTR-1 assist Taxpayers ?

• Assistance to tax payer in filing of GSTR-3B 
• Minimizing errors and mismatch in return filing
• assistance in long term reconciliation of GSTR-1 and GSTR-3B 
• Minimizing Manual efforts which delay refund 
• Improving overall tax payer compliance

A PDF statement has been made available to taxpayers, filing monthly GSTR-1 statement, with system computed values of Table 3 of Form GSTR-3B. This PDF will be prepared on the basis of the values reported by them, in their GSTR-1 statement, for the said tax period.

Note: This facility will also be provided to quarterly GSTR-1 filers in due course of time.

This PDF will be available on their GSTR-3B dashboard, from tax period of August 2020 onwards, containing the information of GSTR-1 filed by them on or after 4th September 2020. This will make filing of their Form GSTR-3B easier for them.

This facility is provided to all taxpayers registered as a Normal taxpayer, SEZ Developer, SEZ unit and casual taxpayer.

Tables of Form GSTR 3B will be Auto-Drafted in PDF statement: 

Following Tables of Form GSTR-3B will be auto drafted, on basis of values reported in GSTR-1 statement, for the said period:

• • 3.1(a) – Outward taxable supplies (other than zero rated, nil rated and exempted)
  • 3.1(b) – Outward taxable supplies (zero rated)
  • 3.1(c) – Other outward supplies (Nil rated, exempted)
  • 3.1(e) – Non-GST outward supplies
  • 3.2 – Supplies made to un-registered persons
  • 3.2 – Supplies made to composition taxable persons
  • 3.2 – Supplies made to UIN holders

In this, following points may be noted:

• In case, any of the above values is negative as per GSTR-1 statement, those figures would be mentioned as Zero in the auto-drafted PDF and will not be carried forward to next period.
• Turnover & tax are computed after taking into account credit notes, debit notes, amendments and advances, if any.
• Only filed GSTR-1 statements are considered for auto-population of the values in Form GSTR-3B.

This PDF is only for assistance of taxpayers to get the auto drafted values of Table 3 of their Form GSTR 3B (as per their filed GSTR 1 statement). Taxpayers, however, are required to verify & file their Form GSTR-3B, with correct values.

Disclaimer: The entire contents of this document have been prepared on the basis of relevant provisions and as per the information existing at the time of the preparation. Although care has been taken to ensure the accuracy, completeness and reliability of the information provided. Neither Author nor Yes GST (collectively referred as we) assume no responsibility thereof. The user of the information agrees that the information is not a professional advice and is subject to change without notice. We shall not be liable for any direct, indirect, special or incidental damage resulting from, arising out of or in connection with the use of the information in any circumstances.

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