Gstr 3b Penalty Waived

To improve ease of compliance and to help taxpayer adapt to the new

GST regime, the Government has announced waiver of penalty for GSTR-3B return. The announcement was made on 24th October 2017 by the Hon'ble Finance Minister. https://twitter.com/arunjaitley/status/922715158371123200

Import of E-way Bill Data

It is essential for taxpayers to validate the data of their transactions before proceeding with the process of filing returns, as it saves time and unnecessary data entry. To cater to this purpose, the GST portal has now been integrated with the E-way Bill Portal (EWB). The integration enables the users to import the B2B and B2C invoice sections and the HSN-wise-summary of outward supplies section. Using these details, the taxpayers may verify the data and complete the filing. The feature has been introduced considering the major data gaps between self-declared liability in Form GSTR 1 and Form GSTR 3B. A similar rule also applies to Input Tax Credit (ITC) claimed in GSTR 3B, as it could be compared with the credit available in Form GSTR 2A. Data validation and comparison can be pursued through the following tabs of the portal:

Liability other than export/reverse charge
Liability due to reverse charge
Liability due to export and SEZ supplies.
ITC credit claimed and due

On a more precise note, the newly launched facility takes away the taxpayer’s need to make specifications connected with the e-way bill transactions specified in GSTR 3B as it allows the taxpayers to import data in Form GSTR 1 for all invoices for which the generated e-way bill. The particulars so imported would include the details of the supplier, receiver, invoice number, the date of invoice, the type and quantity of goods, HSN Code, etc. These details are then transferred to the GST portal and classed into three categories to be used in GSTR 1 – namely, Business to Business Supplies (B2B), Business to Consumer (B2C) supplies (covering values of above Rs. 2.5 lakhs) and HSN (Harmonized System of Nomenclature Code for goods and services) wise consolidated supply data.

GSTR-3B Return

GSTR-3B return is a simplified GST return introduced by the Government to ease the GST transition. All regular taxpayers registered under GST must file GSTR-3B return every month on or before the 20th. The GSTR-3B return for August was due on September 20th and the GSTR-3B return for September was due on 20th October.

GSTR-3B Filing

Even though the Government has waived off the penalty for filing GSTR-3B return, taxpayers are still required to file the return as soon as possible. In case you have not filed GSTR-3B return for August or September, get in touch with an IndiaFilings Advisor for assistance.

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Paid Penalty for GSTR-3B Return?

In case if the taxpayer earlier paid penalty and late-filed GSTR-3B return, the amount of penalty paid shall automatically credits to the electronic cash ledger. The taxpayer can use the credit in the electronic cash ledger for subsequent GST payments.

Government Notification for Waiver of GSTR-3B Return Penalty

The Government notification for waiver of GSTR-3B return is reproduced below for reference:

[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)]

Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs

Notification No. 50/2017 – Central Tax

New Delhi, the 24th October, 2017

G.S.R. (E):- In exercise of the powers conferred by section 128 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby waives the late fee payable under section 47 of the said Act, for all registered persons who failed to furnish the return in

FORM GSTR-3B for the months of August and September, 2017 by the due date.

[F. No. 349/74/2017-GST(Pt.)]

(Dr.Sreeparvathy S.L.) Under Secretary to the Government of India

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Frequently Asked Questions

Common questions about GSTR.

Yes, the government has announced a waiver of penalty for late filing of GSTR-3B returns for the months of August and September 2017. This announcement was made by the Hon'ble Finance Minister on 24th October 2017 to improve ease of compliance and help taxpayers adapt to the new GST regime.

If a taxpayer has already paid the penalty for late filing of GSTR-3B return, the amount of penalty paid shall automatically be credited to the electronic cash ledger. The taxpayer can use this credit for subsequent GST payments.

The GST portal has been integrated with the E-way Bill Portal (EWB). This integration enables users to import the B2B and B2C invoice sections and the HSN-wise-summary of outward supplies section from the E-way Bill data into the GSTR-3B return.

It is essential for taxpayers to validate their transaction data before filing GSTR-3B because it saves time and unnecessary data entry. Additionally, there have been major data gaps between self-declared liability in Form GSTR-1 and Form GSTR-3B, as well as with the Input Tax Credit (ITC) claimed in GSTR-3B.

Taxpayers can validate and compare their data on the GST portal through the following tabs: Liability other than export/reverse charge, Liability due to reverse charge, Liability due to export and SEZ supplies, and ITC credit claimed and due.

Importing E-way Bill data into GSTR-3B takes away the need for taxpayers to make specifications connected with the e-way bill transactions specified in GSTR-3B. It allows them to import data in Form GSTR-1 for all invoices for which an e-way bill was generated, including details like supplier, receiver, invoice number, date, goods type and quantity, HSN Code, etc.

The imported E-way Bill data is classified into three categories for use in GSTR-1: Business to Business Supplies (B2B), Business to Consumer (B2C) supplies (covering values above Rs. 2.5 lakhs), and HSN (Harmonized System of Nomenclature Code for goods and services) wise consolidated supply data.