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Vat refund adjusted in 3b

vikram kerekar (1241 Points)

11 August 2017

dear
how to adjusten in vat refund in gst 3b return aginst gst liability plz cleryfy.

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Anil Chowdary Karanam CA (student) (119 Points)
Replied 11 August 2017

I think govt not enabled such a facility in form GSTR 3B ,
Hence we need to pay without adjustment of previous credits for July and august when ever u filed the TRAN 1 then only it will be adjustable in GST while filing GSTR 1 for September month.

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SANDEEP JAIN (Tax Consultant) (487 Points)
Replied 11 August 2017

Vice President of GST Network Shri Shashi Bhushan Singh conducted a webinar to clarify certain issues related to filing of GSTR-3B GST as under:

(1) Transitional Input Tax Credit of Excise, Service Tax, VAT etc. cannot be claimed in GSTR-3B. He said that "The legal provisions don’t allow claiming transitional credit through Form GSTR-3B, they have to claim through Transition Forms". (Yesterday's viewpoint was only the viewpoint of Ask GOI)

(2) He further explained that any revision in GSTR-3B must be routed through Forms GSTR-1, GSTR-2 and GSTR-3.

(3) Refund (if allowable as per section 54 of CGST Act, 2017) CANNOT be claimed under Form GSTR-3B, excess ITC can be carried forward to subsequent months for setting off liability.

(4) Where there are no inward or outward supplies during July & August, ‘Nil’ return must be filed.

(5) Composition scheme dealers shall file Form GSTR-4 in the month of October, while e-commerce operators supplying own goods & services will require to file Form GSTR-3B, but in other cases, they will deduct TCS and file Form GSTR-8 which is yet to be notified .