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Is it Possible to Edit GSTR 3B after Submitting?

The Goods and Services Tax regime in India came into force on 1st July 2017. This new tax structure subsumed quite many indirect taxes that were previously functional in the country.

The primary focus aim behind GST enactment was to bring the entire country under a single tax regime. Under this regime, the tax will be levied at every point of sale. In other words, GST will be charged on every value addition involved in the supply of goods and services.

By accessing the GST portal, taxpayers can file GST returns, register under the regime, generate refund applications, and so on. Under this regime, the Central Board of excise and Customs (CBEC) introduced a number of forms required to file GST returns.

These include –

  • GSTR 1,
  • GSTR 2,
  • GSTR 3,
  • GSTR 3B, etc.

GSTR 3B is one of the most important forms which summarises the GST returns of a taxpayer on a monthly basis. This form has to be filed by every individual registered under the GST regime.

GSTR 3B meaning is that it contains a monthly self-declaration of a particular taxpayer, including the details of all outward supplies made. This would contain information regarding the claimed input tax credit, tax liability, amount of tax paid, etc.

The mandatory details to be included in the GSTR 3B format are –

  • GSTIN of the taxpayer.
  • Registered name of the business.
  • Outward taxable supplies (excluding supplies which are zero-rated or exempt from GST).
  • Zero-rated outward supplies. This includes supplies which are exempt from GST. Exports and supplies made to SEZ (Special Economic Zone) come under this category. Certain goods like salt, curd, fresh milk, etc. are also exempt from GST.
  • Inward supplies which are liable to reverse charge. In case of purchases made from unregistered sellers, the taxpayer will have to prepare the invoice himself and pay the tax as applicable.
  • Non-GST outward supplies, including the supply of petroleum and alcohol products, which are out of the GST regime.

GSTR 3B filing has to be done timely within the stipulated time. Otherwise, a penalty fee will be charged on the taxpayer.

How to edit GSTR 3B form after submission?

Previously, there was no way of editing or rectifying details entered in the GSTR 3B after it had been submitted. But now, the government allows an option of 'Reset GSTR 3B' to the taxpayers.

This helps change the status of the form as 'Yet to be filed' from 'Submitted', and enables the taxpayer to edit the details in the form. The Input Tax Credit (ITC) of this return registered with the Electronic Credit Ledger will be reversed and all the details recorded in the Electronic Liability Register will be erased.

However, this option can be availed by a taxpayer only once. Here is how you can do so –

  1. Visit the GST portal and go to the ‘Return Dashboard’.
  2. Select the option ‘Prepare Online’.
  3. Click on the option ‘Reset GSTR 3B’.
  4. Once the warning box pops up, click on ‘Yes’ and ‘OK’.
  5. Now you can revise the form and re-submit it.

Completing GST-based tasks are very convenient, owing to the facilities available in the GST portal. Similarly, the GST calculator for manufacturers can also be used online to check the tax liabilities.

GST return 3, along with other forms, has to be maintained in an organised manner by business owners.

Doing so can help them avail financing without any difficulties. For instance, withdrawing a business loan becomes easier when you have these official records up-to-date.

Bajaj Finserv is an NBFC that offers such loans to small businesses against a few documents and nominal eligibility criteria.

As a responsible taxpayer of the country, you must adhere to the due dates provided in the GST portal to file the returns.

GST is primarily a technology-driven system, which means, it enables taxpayers to perform all tax-related activities online. This is one of the points why GST is beneficial for India.

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