Here's what all you need to fill in.
Below are all the heads under which information is required to be furnished:
- GSTIN – Each taxpayer will be allotted a state-wise PAN-based 15-digit Goods and Services Taxpayer Identification Number (GSTIN). A format of proposed GSTIN has been shown in the image below. GSTIN of the taxpayer will be auto-populated at the time of return filing.
- Name of Taxable Person – Name of the taxpayer, will also be auto-populated at the time of logging into the common GST Portal.
- Address – Business address of the registered taxable person will get auto-populated here.
- Period: (Month -Year) – A Taxable person is required to select from a drop down the relevant month and year respectively for which GSTR-3 is being filed.
- Turnover Details – This heading will include consolidated turnover of all types of supplies. Gross turnover needs to be bifurcated between:
- Taxable Turnover
- Export Turnover
- Nil rated and Exempted Turnover
- Non-GST Turnover
- Total Turnover ( sum of above all)
- Outward Supplies
All the particulars filed under GSTR-1 will flow under this heading. GSTR-1 requires an assessee to furnish details of outward supplies. All such information gets auto-populated under respective heading. These subheadings have been provided below:
- Inter-State Supplies to Registered Taxable Person
- Intra-State Supplies to Registered Taxable Person
- Inter-State Supplies to Consumers
- Intra-State Supplies to Consumers
- Exports (including deemed exports)
- Revision of Supply Invoices / Credit Notes / Debit Notes
- Total Tax Liability on Outward Supplies
- Inward Supplies
Similar to outward supply, every registered taxpayer is required to furnish details of inward supply in his monthly GSTR-2. All the information filed under GSTR-2 will flow into this heading. Below are the subheadings wherein the information will get auto-populated:
- Inter-State Supplies Received
- Intra-State Supplies Received
- Imports
- Revision of Purchase Invoices / Credit Notes / Debit Notes
- Total Tax Liability on Inward Supplies on Reverse Charge
- ITC Reversal
- Total Tax Liability for the month – Once all the outward supplies and inward supplies are declared, GSTN portal will auto-calculate the tax liability under this heading. Hear taxpayer will determine his tax liability from dealing in goods and provision of services both. Also, a separate value will be shown for CGST, SGST, and IGST respectively.
- TDS credit received during the month – Any tax credit by way of tax deducted at source will auto-populate here from taxpayer’s GSTR-2.
- TCS credit received during the month – Similar to TDS above, in the case of E-commerce marketplace sellers, any amount of TCS collected by the E-commerce operator will be available here. This information will again be flowing from the GSTR-2 filed for the same period.
- ITC received during the month – Total amount of eligible input tax credit available for adjustment will get auto-computed here.
Part B
- Tax, Interest, Late Fee and Penalty Paid – This heading will take input from all the headings above and will determine the final GST liability. Separate tax liability will be shown against IGST, CGST, and SGST. Here the taxpayer will have the option to debit cash ledger/ credit ledger against the liability outstanding.
- Refunds Claimed from Cash Ledger – Input Credit amount in excess of tax liability will flow to this heading. The taxpayer can claim a refund of amount showing in this header.
- Once all the particulars are furnished correctly, the taxpayer is required to sign digitally either through a digital signature certificate (DSC) or Aadhar based signature verification to authenticate the return.
CAclubindia
