Where do you show outward supplies under reverse charge in Gstr 3B?

The supplier has to report the same in table 4B of GSTR-1 (Outward supplies attracting tax on reverse charge basis). The recipient has to report the summary of purchases attracting reverse charge. The recipient has to report in Table 3.1 (D) of GSTR-3B (inward supplies liable to reverse charge).

How do you show negative outward supply in Gstr 3B?

As negative figures is not allowed to be mentioned in GSTR-3B, If Sales return is in excess of sales in a particular month, the taxpayer can file NIL GSTR-3B for particular month (because there is no GST liability), and in next month’s GSTR-3B adjust the remaining amount of Sales return from future tax liability.

Can we claim input on RCM?

8. Input Tax Credit under RCM. A supplier cannot take Input Tax Credit of GST paid on goods or services used to make supplies on which the recipient is liable to pay tax under reverse charge.

What is reverse charge mechanism under GST?

Generally, the supplier of goods or services is liable to pay GST. Reverse Charge means the liability to pay tax is on the recipient of supply of goods or services instead of the supplier of such goods or services in respect of notified categories of supply.

Can we enter negative figures in Gstr 3B?

Manner of generation of GSTR-3B autofill and the PDF statement. Net positive values from GSTR-1 are reflected in the respective tables. Net negative values are considered as zero and will not be considered in the table.

What is outward supply in Gstr 3B?

Outward taxable supplies (zero-rated) – here include only those supplies on which GST rate is zero. Zero-rated supplies are exports or supplies made to SEZ. Other outward supplies (nil rated, exempt) – include supplies which are exempt from GST or are nil rated.

How do I file my NS return for Gstr 3B?

Procedure for Filing NIL GSTR-3B Return

1. Step 1: Login to GST Portal.
2. Step 2: Select the month of filing.
3. Step 2: Select the month of filing.
4. Step 3: Select prepare GSTR-3B return.
5. Step 4: Ensure that all fields are nil in the return.
6. Step 5: Preview and Submit GSTR3B Return.
7. Step 5: Accept the return summary.

How do I claim sales tax back from GST?

How to File GST Returns Online?

1. Step:1 Visit the GST portal (www.gst.gov.in).
2. Step:2 A 15-digit GST identification number will be issued based on your state code and PAN number.
3. Step:3 Upload invoices on the GST portal or the software.

When to file the gstr-3b return?

You must file the GSTR-3B return of a particular month by the 20th day of the next month. For example, you should file the GSTR-3B for April by the 20th of May. 1. Prerequisites for GSTR 3B Filing Businesses required to file the monthly returns GSTR-1, GSTR-2, and GSTR-3 are liable to file GSTR-3B.

What is the difference between gstr 1 and gstr 2 & gstr 3?

The intention of the GST law was that a normal taxpayer would be required to file GSTR 1, GSTR 2 &GSTR 3 returns for every month. But in case of extension of due dates for GSTR 1 and GSTR 2 for any period, GSTR-3B needed to be filed in lieu of GSTR 3.

What happens if excess ITC is claimed in gstr 3B?

In case of excess ITC claim in GSTR 3B as determined after the filing of corresponding GSTR 2,the excess amount claimed will be reversed from the ITC ledger OR added to the liability ledger. 10. GSTR 3B does not require details to be filed on invoice-level or rate-wise.

What is the late fee for late filing of gstr-1?

“For taxpayers having nil tax liability in GSTR-3B or nil outward supplies in GSTR-1, the late fee to be capped at Rs 500 (Rs 250 CGST + Rs 250 SGST)” “For taxpayers having Annual Aggregate Turnover (AATO) in preceding year upto Rs 1.5 crore, late fee to be capped to a maximum of Rs 2000 (1000 CGST+1000 SGST);”