Latest Change In GSTR-3B as Government simplifies filing
The government on Wednesday came out with a simplified version of GSTR-3B , making it more user-friendly amidst indications that it may possibly be used even beyond March 31. According to a note prepared by PwC, GSTN has made the following key changes in the process of filing GSTR-3B.
1. Fill either CGST or SGST/UGST amount, other tax will get auto-filled.
2. You can now save the Form by confirming details filled in the Table. You can fill balance details later.
3. Preview Form or download it for cross verifying saved details in any table(s) anytime.
4. No more Submit requirement to freeze details and know the liability.
5. Changes in any table can be made before making the payment towards liabilities.
6. Once you proceed to payment, you can also see details of existing balances in cash and credit ledgers (Table 6.1 – Payments Table).
7. The system suggested Tax Credit (ITC) is already filled for discharging liability. Be aware, it is only suggestion. You can edit the same before finalizing the Return.
8. Once you confirm ITC and cash utilization for payment of tax liability in Payments Table, the system does an automatic calculation for a shortfall in cash ledger.
9. Once you are Ok with a shortfall, System will generate pre-filled challan for the shortfall and navigate to payments option.
10. Once you make the online payment, the system will navigate back to Payments Table.
11. Satisfied with the details filled, click “Proceed to file”, select authorized signatory, Submit with EVC or DSC.
Earlier, a taxpayer was required to Submit the return to ascertain the tax liability amount. Post submission, no changes were allowed. Now, the tax liability to be paid in cash/ credit will be shown before submitting the return.
Tax payment challan can now be auto-generated after offsetting the input tax credit available in credit ledger. Taxpayer, however, has an option to edit the credit amount to be utilized and not to consider the system generated credit utilization. Earlier, the assessee had to manually fill in the credit utilization amount and generate the challan.
Download facility of draft return
A new feature of downloading draft return at any stage has been provided to verify the saved details offline.
Auto-fill of tax amount
Taxpayer now needs to fill either CGST or SGST/UTGST amount, other tax will get auto-filled.
Further, detailed user manuals providing stepwise details of the return filing process has been made available to businesses.
“This is a welcome step towards making the tax filing process more user-friendly. It makes the system less rigid and reduces the
chances of inadvertent errors. With this, hopefully, the businesses would find it easier to file returns which would, in turn, increase the level of compliances. It also indicates that the Government intends to continue with monthly Form 3 B returns post-March 2018 as well,”
Such changes will make filing simpler and faster and reduce manual input to tax payment which could throw off errors. “Several user-friendly changes have been made in the GSTR-3B filing flow. Now users can view their tax liability before submitting. And view cash/credit ledger offset available to them and the tax to be paid before submission of their GSTR-3B return.”