Know Steps to File GSTR-3
The heads under which the information needs to be furnished are discussed below:
- GSTIN: A 15 digit PAN based unique Goods and Services Tax Identification Number (GSTIN) will be allotted to every taxpayer individual/ person. A GSTIN will contain different information regarding the taxpayer. At the time of filing the return, GSTIN of the registered person will be populated automatically.
Format of GSTIN: 11PPPPP2222Q1Z5
here, first two digits represent the state code, following ten are the PAN. Then next digit is entity number of same PAN holder in the state which is followed by an alphabet Z. The last digit is check sum digit.
- Name of taxable person: After logging in to the GST portal, the name of the person will be auto-populated.
- Address: The business address of the person will also populate automatically.
- Period (Month/ Year): A relevant period of time needs to be selected for which the GSTR 3is being filed, from the drop down button.
Turnover details: A consolidated turnover of all types of supplies will be included under this head. Bifurcation needs to be done for gross turnover between:
- Export turnover
- Non GST turnover
- Nil rated and exempted turnover
- Taxable turnover
- Total turnover (grand total of all of the above)
Outward Supplies: Under this heading, the particulars filed in GSTR 1 will fall. An assessee is required to file details of outward supplies by GSTR 1. The relevant information gets populated automatically in their respective sub headings which are:
- Inter-state supplies to consumers
- Intra state supplies to consumers
- Intra state supplies to registered taxable person
- Inter-state supplies to registered taxable person
- Revision of credit notes/ debit notes/ supply invoices
- Exports (including deemed exports)
- Total tax liability on outward supplies
Inward supplies: In the same grounds of outward supply, a registered taxpayer needs to furnish inward supply details in GSTR 2 which is filed monthly. The subheadings in this context are:
- Intra state supplies received
- Inter-state supplies received
- Revision of debit notes/ credit notes/ purchase invoices
- ITC reversal
- Total tax liability on inward supplies on the basis of reverse charge
- Total tax liability for the month: After the declaration of inward and outward supplies, tax liability will automatically be calculated by GSTN portal under this heading. The liability of tax on goods as well as services will be determined by the taxpayer.
- TDS credit received during the month: Tax credit by the way of TDS will populate automatically from GSTR 2.
- TCS credit received during the month: In the case of e commerce, if any e commerce operator receives/ collects TCS, it will be available here.
- ITC received during the month: The total amount of input tax credit which is eligible is available for the purpose of adjustments and gets computed automatically.
- Tax, interest, penalty and late fees paid: Tax liability against SGST CGST and IGST will be shown here. It will also take input from all the above headings and then calculate/ determine the final GST liability.
- Refunds claimed for cash ledger: The input tax credit which is in excess of the tax liability is shown under this heading for which the taxpayer can claim for the refund.
After furnishing the particulars correctly, digital signatures will be required to be made, either through Aadhar based signature verification or DSC (Digital Signature Certificate) in order to authenticate the return.