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As per CBIC and GSTN tweet, system computed GSTR-3B (Table-3 for liabilities) on the basis of GSTR-1 filed by taxpayers is now available on the GST portal for monthly GSTR-1 filers.

It is to be noted that only liability part is system computed and taxpayer can still fill ITC part as earlier.

However government is working hard in the direction of fully automating GSTR-3B, which is the main return for claiming ITC and payment of output liability. The intention behind automating the GSTR-3B return is to curb the malpractice of availing fraudulent ITC by taxpayers. Recent introduction of new form GSTR-2B is also a step in this direction.

The only drawback of this automation is that entire process is dependent of GSTR-1 of supplier. So, if supplier does not furnish his GSTR-1 in time, then buyer is going to suffer with no fault on his part.  


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Author:

TaxReply


Sep 4, 2020


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GST News (Updates)


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30
May
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10 Jun

☑ Monthly | GSTR-7

GSTR-7 for the m/o May 2024 (For TDS Deductors u/s 51 - Section 39(3)).

☑ Monthly | GSTR-8

GSTR-8 for the m/o May 2024 [For TCS collection by E-Commerce Operators - Section 52(4)].

11 Jun

☑ Monthly | GSTR-1

GSTR-1 for the m/o May 2024 (Monthly Taxpayers) - N.No. 83/2020.

13 Jun

☑ Monthly | GSTR-5

GSTR-5 for the m/o May 2024 [Return by Non Resident Taxpayers - Rule 63 - Section 39(5)]

☑ Monthly | GSTR-6

GSTR-6 for the m/o May 2024 [For Input Service Distributors - Rule 65 & Section 39(4)].

☑ Monthly | IFF

IFF for the m/o May 2024 (QRMP Taxpayers, Optional) - Rule 59(2).

20 Jun

☑ Monthly | GSTR-3B

GSTR-3B for the m/o May 2024 (Monthly Taxpayer - Rule 61) - Either Compulsory taxpayer > 5 cr. or Voluntary taxpayer < 5 cr.

☑ Monthly | GSTR-5A

GSTR-5A for the m/o May 2024 [Return by OIDAR Service Providers - Rule 64.]

25 Jun

☑ Monthly | PMT-06

PMT-06 Monthly tax payment for May 2024 under QRMP Scheme [Rule 61(1)(ii) - Proviso to Section 39(7)].

Taxpayers have a choice to pay tax either, as per -  

A) Fixed Sum Method OR 
B) Self assessment basis subject to interest on short payment of taxes.
(Notification No.85/2020 - CT)
 
28 Jun

☑ Monthly | GSTR-11

GSTR-11 for the m/o May 2024 (Statement of inward supplies by persons having Unique Identification Number (UIN)).