28th July 2017
GST return filing is mandatory compliance as per the Goods and service tax regime. Person registered under GST is required to follow the details of the inward supply outward supplies and make the payment in third return.GSTR-1 containing the details of inward supplies are required to be filed by 10th of the subsequent month and details of outward supplies in GSTR-2 by 15th of the subsequent month and then finally GSTR-3 by 20th to make the final payment.
While, part B contains
Particulars to be included in GSTR-3
GSTIN- It is state wise PAN based 15 digits number allotted to every taxpayer. It will be auto-populated at the time of filing GSTR-3.
· Details of turnover- The details of consolidated turnover of all types of supplies are specified under this column. Depending upon the Gross turnover division takes place between the following-
• Exports (including deemed exports)
• Revision of Supply Invoices or Credit Notes or Debit Notes
• Total Tax Liability on Outward Supplies
Inward Supplies- Similar to the outward supplies, all the particulars of inward supplies furnished by the taxpayer in GSTR-2 will get auto populated under the various columns of this return. These columns are as follows-
• Inter-State Supplies Received
• Intra-State Supplies Received
• Revision of Purchase Invoices or Credit Notes or Debit Notes
• Total Tax Liability on Inward Supplies on Reverse Charge
Total Tax Liability- Through the details of outward supplies and inward supplies declared above the tax liability under this head will be automatically calculated. Tax liability is required to be determined from both dealing in goods and provision of services. Also, a separate value will be shown for CGST, SGST, and IGST respectively.
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