GSTR – 3B has to be filed by 20th Aug 2017 for the month of July transaction with GST. Following are the key points
1. Every tax payers under GST except registered under composition has to file this return.
2. Data entered in GSTR – 3B will be reconciled with the GSTR – 2 and GSTR – 2 to e filed subsequently
3. Taxpayers have to discharge the liability of GST only by payment and existing ITC cannot be utilized, stress on cash flows.
4. While entering data in GSTR – 3B, complete the returns of GSTR – 1, so that there will be minimal reconciliation issues
5. No offline utility, return has to be filed online only