A. Monthly GST Return for the Taxpayers (GSTR-3) – GSTR-3 is required to be filed by all taxpayers, except the compounding taxpayers and Input Service Distributors, by 20th of the succeeding month. The return would be permitted to be filed both on online and offline mode. Besides the basic details like Name and Address of the taxpayer along with GSTIN & period to which the return pertains, the GSTR-3 return would capture following information:
1. Turnover Details including Gross Turnover, Export Turnover, Exempted Domestic Turnover, Nil Rated Domestic Turnover, Non GST Turnover and Net Taxable Turnover.
2. Final aggregate level outward and inward supply information will be auto populated from GSTR-1 and GSTR-2 returns of the taxpayer.
3. Separate tables for calculating tax amounts on outward and inward supplies based on the information contained in various tables in the GSTR-3 return.
4. A separate table for capturing the TDS credit received and credited to the cash ledger of the deductee.
5. Tax liability under CGST, SGST, IGST and Additional Tax.
6. Details regarding revision of invoices relating to outward and inward supplies, as per details provided in GSTR-1 & GSTR-2 returns.
7. Details of other liabilities like Interest, Penalty, Fee, etc. should be submitted by the taxpayers.
8. Information about ITC ledger, Cash ledger and Liability ledger will be maintained electronically on the dashboard of taxpayer by GSTN and would be updated in real time on an activity in connection with these ledgers by the taxpayer. Details in these ledgers will get auto populated from previous tax period return (irrespective of mode of filing return i.e. online / offline utility).
9. Details of ITC utilized against tax liability of CGST, SGST and IGST on supplies of goods and services.
10. Net tax payable under CGST, SGST, IGST and Additional Tax.
11. Details of the payment of tax under various tax heads of CGST, SGST, IGST and Additional Tax separately would be populated from the debit entry in Credit/Cash ledger.
[GST Law may have provision for maintaining four head wise account for CGST, SGST, IGST and Additional tax and at associated minor heads for interest, penalty, fee and others.]
12. Excess payment, if any, will be carried forward to the next return period. The taxpayer will have the option of claiming refund of excess payment through the return for which appropriate field will be provided in the return form. The return form would display all bank account numbers mentioned in the registration, out of which one will be selected by the taxpayer to which the refund will be credited.
FOR MORE STUFF DOWNLOAD BELOW E BOOK