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CBEC Notified Date & Conditions For Filing Return In FORM GSTR-3B For July, 2017

Central Board of Excise and Customs, vide Notification No. 23/2017 – Central Tax dated the 17th August, 2017, has notified the date and conditions for filing the return in FORM GSTR-3B for the month of July, 2017. The contents of the said notification is as follows:

In exercise of the powers conferred by section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as “the said Act”) read with sub-rule (5) of rule 61 of the Central Goods and Services Tax Rules, 2017 (hereafter in this notification referred to as “the said Rules”) and notification No. 21/2017- Central Tax dated 08th August, 2017 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide G.S.R. number 997 (E), dated the 08th August, 2017, the Commissioner, on the recommendations of the Council, hereby specifies the conditions in column (4) of the Table below, for furnishing the return in FORM GSTR-3B electronically through the common portal for the month of July, 2017, for such class of registered persons as mentioned in the corresponding entry in column (2) of the said Table, by the date specified in the corresponding entry in column (3) of the said Table, namely:-

TABLE


Date & Conditions For Filing Return In FORM GSTR-3B For July, 2017

2. Payment of taxes for discharge of tax liability as per GSTR-3B: Every registered person furnishing the return in FORM GSTR-3B shall, subject to the provisions of section 49 of the said Act, discharge his liability towards tax, interest, penalty, fees or any other amount payable under the Act by debiting the electronic cash ledger or electronic credit ledger.

Explanation.- For the purposes of this notification, the expression-
(i) “Registered person” means the person required to file return under sub-section (1) of section 39 of the said Act; 
(ii) “tax payable under the said Act” means the difference between the tax payable for the month of July, 2017 as detailed in the return furnished in FORM GSTR-3B and the amount of input tax credit entitled to for the month of July, 2017 under Chapter V and section 140 of the said Act read with the rules made thereunder.
3. This notification shall come into force with effect from the date of publication in the Official Gazette.



CBEC's PRESS NOTE ON FILING OF RETURN IN FORM GSTR-3B FOR JULY, 2017

1. GST Council had earlier decided to defer the filing of return in FORM GSTR-3 and had recommended the filing of return in FORM GSTR-3B. Accordingly, the Central Government vide notification No. 21/2017-Central Tax dated 08.08.2017 had notified the last date for filing of return in FORM GSTR-3B for the month of July, 2017 as 20.08.2017.

2. Concerns have been raised by the trade about whether transitional credit would be available for discharging the tax liability for the month of July, 2017. In this regard, attention is invited to notification No. 23/2017-Central tax dated 17.08.2017 wherein the date and conditions for filing the return in FORM GSTR-3B have been specified. Salient points for filing the said return are as follows:

A. Registered persons planning not to avail transitional credit for discharging the tax liability for the month of July, 2017 or new registrants who do not have any transitional credit to avail need to follow the steps as detailed below:
I. Calculate the tax payable as per the following formula: 
Tax payable = (Output tax liability + Tax payable under reverse charge) – input tax credit availed for the month of July, 2017;
II. Tax payable as per (i) above to be deposited in cash on or before 20.08.2017 which will get credited to electronic cash ledger; 
III. File the return in FORM GSTR-3B on or before 20.08.2017 after discharging the tax liability by debiting the electronic credit or cash ledger.
B. Registered persons planning to avail transitional credit for discharging the tax liability for the month of July, 2017 need to follow the steps as detailed below:
I. Calculate the tax payable as per the following formula: 
Tax payable = (Output tax liability + Tax payable under reverse charge) – (transitional credit + input tax credit availed for the month of July, 2017); 
II. Tax payable as per (i) above to be deposited in cash on or before 20.08.2017 which will get credited to electronic cash ledger; 
III. File FORM GST TRAN-1 (which will be available on the common portal from 21.08.2017) before filing the return in FORM GSTR-3B; 
IV. In case the tax payable as per the return in FORM GSTR-3B is greater than the cash amount deposited as per (ii) above, deposit the balance in cash along with interest @18% calculated from 21.08.2017 till the date of such deposit. This amount will also get credited to electronic cash ledger; 
V. File the return in FORM GSTR-3B on or before 28.08.2017 after discharging the tax liability by debiting the electronic credit or cash ledger.



Extra Notes for Readers

(1) Last Date For Payment Of GST & Filing Of Return For July 2017 Extended By 5 Days - click here

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