TaxTMI 
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TaxTMI 
GST-3B Return filing, format , due date & rules
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....ST-3B Return filing, format , due date & rules<br>By: - Estartup India<br>Goods and Services Tax - GST<br>Dated:- 17-3-2023<br><br>Every registered taxpayer must file a GST Return. There are many GST forms or returns. The most important of these forms is GST-3B. This article will provide all the information you need about GST-3B Return Filing. It includes format, due date and rules. What is GST-3....
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....B Return Filing and how do I get it? GSTR-3B forms are used to notify and remit GST obligations. For each tax period, a normal taxpayer must file Form GSTR-3B returns. GSTR-3B returns are not required to be submitted by taxpayers. This is in contrast to other GST forms. It is simply a summary report of all inward and outward supplies. What is the best time to file GSTR-3B If their annual combin....
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....ed turnover is less than Rs. 5, small taxpayers can choose the Quarterly Return Monthly Payment (QRMP), and submit Form GSTR-3B quarterly. 5 crores. However, such taxpayers must still submit their returns monthly if they decide not to join the QRMP plan. Who needs to do GST-3B Return Filing? GST-3B Return Filing is required for every individual and business entity that has GST Registration. Only....
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.... the following individuals are exempt: * GST Registration for Businesses under the Composition Scheme * Input Service Distributors * Online Information Database Access and Retrieval Services Suppliers * Non-resident taxable people GSTR-3B Essentials * Businesses must also file GSTR-1, GSTR-2 and GSTR-3 monthly returns. * You can connect to the GST Portal Network or file GSTR-3B online....
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.... through challans at banks or online payments * Register mobile number * Click on "Monthly return GSTR 3B." * Complete all fields of Form GSTR-3B. * To release any obligation to pay taxes, interest, penalties or fees, debit the computerized credit/cash ledger. * To verify the return (digital signature certification of class 2 or higher), use an EVC or DSC (electronic verificati....
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....on cod) * After validation, you should note down a success message as well as an acknowledgement reference number. GSTR 3B: Details * Summary information on reverse charge and tax liability for inbound and outbound supplies * Information on interstate deliveries to unregistered persons, composition taxable individuals and UIN holders * Accessible ITC, reversed ITC, available net ITC, unav....
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....ailable ineligible ITC, etc. * Descriptions of inbound supplies exempted, zero, or non-GST are given. * Information on late fees and interest * Information on late payments, interest and tax (if applicable) * Credit information for TDS/TCS What are the penalties or late fees for failing to file GSTR-3B? You will be charged a late fee if you submit GSTR-3B after the deadline. It is assess....
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....ed according to the following: * Rs. 50 for every additional day of delay * The penalty for taxpayers who do not have any tax due for the month is Rs. 20 per day for delay * If the GST obligations are not paid by the deadline, interest of 18% per year is charged on any unpaid tax.<br> Scholarly articles for knowledge sharing by authors, experts, professionals ....