The GSTR-3B tab on the GST Portal will only be accessed after GSTR-1 filing. The reason behind this is- GSTR-3B is a summary return as stated by the GSTR-1 filing details. In case you missed filing GSTR-1, GST Portal will not grant you access to the necessary information to generate GSTR-3B.
This move has been taken by the government to make sure that taxpayers file GSTR-1 on time. Without filing GSTR-1, they are not allowed to access GSTR-3B filing. It also may lead taxpayers to face penalty charges or late fees.
Difference Between GSTR-1 and GSTR-3B
The following are the separate differences between GSTR-1 and GSTR-3B for any taxpayer:
GSTR-1 Return(Monthly & Quarterly)
GSTR-1 returns can be filed either monthly or quarterly. All outgoing supplies or turnover fall under this type of return filing. Business turnover is the determinant factor to know the frequency of the GSTR-1 return filing. The return under this filing must be filed monthly if the revenue of the business exceeds Rs. 1.50 crore in the previous or current year. The last date for filing GSTR-1 for the current month is the 11th day of the following month. If the turnover is below Rs. 1.50 crore, the taxpayers may file the return quarterly. In such cases, the last date for GSTR-1 filing will be on the 30th or 31st of the month following the previous quarter.
The late fee for filing the GSTR-1 after the given due date will be Rs. 200 (Rs. 100 each CGST and SGST per day).
What is GSTR-3B Return?
GSTR-3B is a self-assessment that is filed by the dealers. It includes purchase and expense information concerning both import and export supplies. GSTR-3B Form must be filed monthly irrespective of the amount of the income on the 20th day of every month. Failing to file the return on time, a fine of Rs. 20 per day will be charged for a nil return, and Rs. 50 per day for any added transaction details.
Conclusion
GSTR-1 return filing does not require any tax payment before filing it. But GSTR-3B requires the tax liability to be paid. Therefore, it is crucial for taxpayers to get acquainted with all the details and information needed for GSTR-1 and GSTR-3B filings. And if your GSTR-3B return is yet to be filed, do make sure that you get done with the GSTR-1 return filing, as it is mandatory to be completed before filing the GSTR-3B return.
