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GSTR-3: Guide on GSTR-3

What are the details which would be required to be submitted in GSTR-3?

Following details would be required to be submitted in GSTR-3 pertaining to inward and outward supplies of goods or services or both: 

i. Input Tax Credit availed 

ii. Tax payable 

iii. Tax paid 

iv. Such other particulars as may be prescribed 

GSTR-3 would be consisting of two Parts i.e. Part A and Part B. Part A of the return shall be electronically generated on the basis of information furnished through GSTR-1, GSTR-2 and based on other liabilities of preceding tax periods. Part B of the GSTR-3 would contain details of discharge of liability by debit through electronic cash ledger and electronic credit ledger.

What would be the due date for deposit of Tax? 

The due date for deposit of tax for every person required to furnish return under GSTR-3, GSTR-4, GSTR-5 and GSTR-7 would be the last date on which he is required to furnish such return.

What are the parameters upon which a claim of Input Tax Credit would be matched and allowed to the recipient? 

Following details relating to the claim of input tax credit on inward supplies including imports shall be matched after the due date for furnishing the return in FORM GSTR-3:

(a) GSTIN of the supplier; 
(b) GSTIN of the recipient; 
(c) invoice or debit note number; 
(d) invoice or debit note date; and 
(e) tax amount. 

Claim of input tax credit in respect of invoices and debit notes in FORM GSTR-2 that were accepted by the recipient on the basis of FORM GSTR-2A without amendment shall be treated as matched if the corresponding supplier has furnished a valid return. 

Further, claim of input tax credit shall be considered as matched where the amount of input tax credit claimed is equal to or less than the output tax paid on such tax invoice or debit note by the corresponding supplier. 

The final acceptance of claim of input tax credit shall be made available electronically to the registered person making such claim in FORM GST MIS-1.

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Disclaimer: This information is updated till 03 August 2017.

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