ClearTax GST www.cleartax.com/GST [email protected]080-67458707 What is GSTR-3B How to prepare GSTR-3B using Excel Templates & ClearTax GST How to file GSTR-3B Return on GSTN portal Definition & Explanation of terms used in GSTR-3B Form Guide to GSTR-3B PREPARE GSTR-3B NOW
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Excel Templates & ClearTax GST How to prepare GSTR-3B ... · Excel Templates & ClearTax GST How to file GSTR-3B Return on GSTN portal Definition & Explanation of terms used in GSTR-3B
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Who needs to file GSTR 3B ● Every person registered under GST● For each GSTIN, separate GSTR 3B to be filed● NIL GSTR 3B must be filed, if there is no transaction during the month ● However, the following registrants do not have to file GSTR-3B
● Input Service Distributors● Composition Taxable Person● Suppliers of online information and database access or retrieval services
(OIDAR), who have to pay tax themselves ● Non-resident taxable person
Summary of How to file GSTR-3B● If you create invoices on ClearTax GST (it’s FREE), then the software can
auto-populate your GSTR 3B. You only need to review it and file on GSTN portal● If you have your/your client's invoice details in Excel or other ERP
○ Enter this data in ClearTax’s Excel Templates○ Upload Excel in ClearTax GST Software ○ We will automatically calculate the GSTR-3B Final values○ Copy such values on the GSTN Portal and File
● If you have already calculated Final GSTR-3B Values ○ You can enter this data on ClearTax GST Software in the “Summary mode”○ Summary mode shows a full snapshot of GSTR-3B Return○ You can review and then copy-paste the Final values on GSTN Portal and File○ The data on ClearTax GST Software will remain for your reference
● The same process has been explained in detail in further slides
If you create invoices on ClearTax GST (it’s FREE), then the software will automatically create your return form. You just need to review it and file on GSTN Portal.
Part 1(a) : If you create bills/invoices using ClearTax GST Software
If you use ClearTax GST software to create bills/invoices, the software will auto-populate all your invoices and prepare GSTR-3B without you needing to do
anything. You just need to review and file on GST portal
Part 1(b) : Preparing GSTR-3B Form Using Excel Import
If you DON’T know all the values to be filled & haven’t created invoices using ClearTax GST, use ClearTax Easy Excel Templates to fill your data and upload
Step 1. Download & Fill Relevant Excel Files for your Business
● The Complete Excel files zip contains following files○ Sales Invoice Template - to create all invoices issued for outward supplies○ Sales CDN Template - to create all credit and debit notes against the sales invoices○ Advance Receipt Template - to create all the advance receipts○ Purchase Invoice Template - to record all invoices issued to you for inward supplies○ Purchase CDN Template - to record credit & debit notes against purchase invoices ○ Advance Payment Template - to record all the advance payments that you made against which invoice
is raised or yet to be raised
● After filling & uploading these excels on ClearTax GST, following details will be automatically summarised
○ Outward Supplies ○ Outward Taxable Supplies (Zero-Rated)○ Outward Supplies (Nil-Rated, Exempted)○ Inward supplies (Liable to Reverse Charge)○ Non-GST Outward Supplies○ Interstate Outward Supplies to Unregistered/Composition Dealer or UIN Holder
● Fill all the fields with necessary data. If you need help to understand any information, click “Explain this”. This section is extremely important to do error free filing, since everyone is doing for first time
Step 4a. Fill details of outward supplies & inward supply under reverse charge
If you want to understand more about these details, click here
Value of Invoices + Value of Credit or Debit Note + Advance Receipts
Other Outward Supplies (Nil-Rated, Exempted): Details of taxable value of all those goods/services supplied, for which the rate of tax notified is NIL or which have been fully exempted. For example, dairy produce, birds eggs, natural honey are zero-rated and exports of such supplies have to be detailed under this category.
Inward supplies (Liable to Reverse Charge): When you purchase products from a supplier who is not GST-registered, you have to pay tax on that purchase,too. Such cases fall under Reverse Charge.
You will also have to pay tax if you purchase goods or services from a registered supplier, but the product itself falls under Reverse Charge.
For such transactions, the liability of tax payment falls on the receiver, and the receiver needs to furnish the details of taxable value and tax payable in the form.
The details of outward supply or sale of goods or services (both interstate or intrastate) needs to be mentioned under this head. This has to be supported with inward details of purchases of those goods or services which are categorized under Reverse Charge. Let us explain you each item under this head.
Outward Taxable Supplies (other than Zero-Rated, Nil-Rated and Exempted Supplies)Businesses need to provide complete details of taxable value and tax payable on all goods/services supplied, other than those classified as zero-rated, nil-rated and exempted goods or services.
Value of Taxable Supplies = Value of invoices + (Value of debit notes – Value of credit notes) + (Value of advances received for which invoices have not been issued in the same month * – Value of advances adjusted against invoices**)
* to be included in the Value of Taxable Supplies as taxes needs to on advance receipts for a future sale or supply.** Advance receipts on which tax has already been paid and which must be excluded from the original invoice value to avoid double taxation.
Outward Taxable Supplies (Zero-Rated)Under this head, it is important to mention the details of taxable value of goods/services exported outside India or supplied to SEZ (deemed export). If you don’t have any exports, you can mention 0.
1. Deemed Exports- These are those transactions in which goods supplied do not leave country, and the payment for such supplies is received either in Indian rupees or in free foreign exchange. For example, supply of goods by a DTA (Domestic Tariff Area) to EOU (Export Oriented Unit) within India is deemed as an export of goods or service.2. Export under Bond/LUT- Supply of goods or services, or both, under bond or Letter of Undertaking, without payment of IGST is also considered as export. Businesses can then claim a refund of unutilised ITC on purchases of inputs used for supplying the exported goods or services.3. Export with IGST- Any exporter or United Nations or Embassy or other agencies/bodies which supplies goods or services, or both, after paying the IGST can claim refund of the IGST paid.4. Export to SEZ- Since supply of goods or services to SEZ is treated as zero-rated supply, hence no IGST will be paid.
Under this head further break up of ‘Outward taxable supplies’ needs to be provided. Here you must mention the inter-state supplies which are made to
● unregistered persons● composition dealers● those who hold a UIN
The following are granted a UIN:● any specialized agency of the United Nations Organization, or● any Multilateral Financial Institution and Organization notified under the United Nations (Privileges
and Immunities) Act, 1947 (46 of 1947), or● Consulate/Embassy of foreign countries, or● any other person or classes of person notified by the Commissioner who shall be liable to obtain UIN
Inter-State supplies made to unregistered persons, composition taxable persons and UIN holders
After mentioning the amount of taxes payable for outward supplies and inward supplies under reverse charge, the eligible ITC to be claimed must also be mentioned. Your net tax liability will therefore be the difference between total taxes payable and eligible ITC. Tax Liability = Total Taxes Payable - Eligible ITC
● Import of goods - Amount of tax paid on import of goods needs to be provided● Import of services - Amount of tax paid on receipt of services from outside India needs to be
provided● Inward supplies liable to reverse charge (other than 1 & 2 above) - If you have purchased any
goods or received any services which fall under Reverse Charge, then tax paid will be provided as an Input Tax Credit in the subsequent month
● Inward supplies from ISD - In case a business has multiple units and is supplying goods or services from all such units, the Input Service Distributor can allot Input Tax Credit to each unit. The details of such allocations, if made, have to be mentioned
All other ITC:Any other credit as may be applicable and not mentioned above. ITC related to the pre-GST tax period will not be allowed to be set off against tax liability shown in GSTR 3B for the month of July and August 2017.
ITC reversed:•As per rules 42 & 43 of CGST Rules:Reversal of ITC is required in case of exempt supplies or non-business purpose use in respect of inputs/input services (Rule 42) and capital goods (Rule 43)•All other ITC: Any other credit as may be applicable and not mentioned above.
Ineligible ITC•As per section 17(5) : Negative List of ITC, For Example Amount paid for Membership of a club, health & fitness Centre is included in the negative list and cannot be claimed•Others: Any other credit that may be ineligible.