What Is GSTR-3 And What Are The Details Required To Be Furnished In GSTR-3?

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  • Last Updated on 2 December, 2022

GSTR 3

GSTR 3 is a monthly GST Return. It contained two parts i.e.Part A, Part B.
 
  • Part A of the return shall be electronically generated on the basis of information furnished through returns in FORM GSTR-1, FORM GSTR-2 and based on other liabilities of preceding tax periods.
  • Parts B contained the Tax Liability, interest and penalty paid and refund claimed from cash ledger, if any. Part B is also auto-populated, the system will compute the tax liability on the basis of GSTR-1(Output tax) and after adjustment of the Input tax credit as claimed in GSTR-2.
Every registered person furnishing the return is required to discharge his liability towards tax, interest, penalty, fees or any other amount payable. The payment will be made by debiting the electronic cash ledger or electronic credit ledger.

Persons Required to File GSTR 3 

Every registered person is required to file GSTR-2 except:

  • Input Service Distributor or,
  • Non-residential taxable person or,
  • A person required to deduct the TDS or E-commerce, operator person.

How to file GSTR 3 on GST Portal?

GSTR-3 is to be filed in FORM GSTR-2 electronically through the Common Portal (www.gst.gov.in) either directly or through using services of GSPs or ASPs like Taxmann’s one solution.

Due Date for Filing GSTR 3

GSTR-3 has to file on or before the 20th of the following month. But Government has decided to extend the due date of filing of GSTR-3 for month of July and August 2017 to Sept 30, 2017, and Oct 15, 2017, respectively.

Penalty for non-furnishing of return

A penalty of Rs.100 per day is applicable for late filing of GST return. The penalty would be payable for the period in which the taxpayer failed to furnish the return up to a maximum penalty of Rs.5000.

  • If GST return for a month is not filed, then the GST return for the next month cannot be filed by the taxpayer. 
  • Further, if a taxpayer fails to file a GSTR-2 return on the 15th, then the taxpayer would not be able to file GSTR-3 return on the 20th. 
  • Hence, late filing of GST returns will have a cascading effect leading to heavy fines and penalties.
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