The Central Board of Indirect Taxes and Customs (CBIC) has notified earlier that the filing of FORM GSTR-3B and FORM GSTR-1 or IFF by companies using electronic verification code (EVC), instead of Digital Signature certificate (DSC) has been further extended till 31st October, 2021 for the period from April 27, 2021 to August 31, 2021.
As per the CBIC circular, the extension of the closing date of late fee amnesty scheme and extension of time limit for filing of application for revocation of cancellation of registration will benefit a large number of taxpayers, specially small taxpayers, who could not file their returns in time due to various reasons, mainly because of difficulties caused by COVID-19 pandemic, and whose registrations were cancelled due to the same. Taxpayers are requested to avail the benefit of these extensions at the earliest to avoid last minute rush.
What is GSTR-1?
GSTR-1 is a monthly or quarterly return that should be filed by every registered GST taxpayer, except a few as given in further sections. It contains details of all outward supplies i.e sales. The return has a total of 13 sections. Every registered person is required to file GSTR-1 irrespective of whether there are any transactions during the period or not. For nil GSTR-1 filers, there is a facility to file through an SMS that began from the 1st week of July 2020. The registered persons are exempt from filing the GSTR-1 namely Input Service Distributors, Composition Dealers, Suppliers of online information and database access or retrieval services (OIDAR), who have to pay tax themselves (as per Section 14 of the IGST Act), Non-resident taxable person, Taxpayer liable to collect TCS, and Taxpayer liable to deduct TDS.
In Form GSTR-1, certain details that are required to file are GSTIN, Name of the Taxable Person, Aggregate Turnover of the Taxable Person in the previous FY, Taxable outward supplies to a registered person, Amendments to details of Outward Supplies to a registered person of earlier tax periods, Taxable outward supplies to a consumer where Place of Supply (State Code) is other than the State where supplier is located (Inter-state supplies) and Invoice value is more than Rs 2.5 lakh, Amendment to taxable outward supplies to a consumer of earlier tax periods where Place of Supply (State Code) is other than the State where supplier is located (Inter-state supplies) and Invoice value is more than Rs 2.5 lakh, Taxable outward supplies to consumer (Other than 6 above), Amendment to Taxable outward supplies to consumer of earlier tax periods (original supplies covered under 7 above in earlier tax period (s)), Details of Credit/Debit Notes, Amendment to Details of Credit/Debit Notes of earlier tax periods, Nil rated, Exempted and Non GST outward supplies, Supplies Exported (including deemed exports), Amendment to Supplies Exported (including deemed exports), Tax liability arising on account of Time of Supply without issuance of Invoice in the same period, Amendment to Tax liability arising on account of Time of Supply without issuance of Invoice in the same tax period, Tax already paid (on advance receipt/ on account of time of supply) on invoices issued in the current period, Supplies made through e-commerce portals of other companies , Supplies made through e-commerce portals of other companies to Unregistered Persons, Amendment to Supplies made through e-commerce portals of other companies to Unregistered Taxable Persons, Invoices issued during the tax period including invoices issued in case of inward supplies received from unregistered persons liable for reverse charge, and self declaration.
What is GSTR-3B?
The GSTR-3B is a self-declared summary GST return filed every month (quarterly for QRMP scheme). It must be filed by a registered taxpayer from July 2017 onwards. A separate GSTR-3B must be filed for every GSTIN. The GST liability must be paid on or before the date of filing GSTR-3B, earlier of its due date.
From 1st September 2021, taxpayers will not be able to file GSTR-1 or use the IFF for August 2021 on the GST portal if they have pending GSTR-3B filings. It applies if GSTR-3B is pending for the past two months till July 2021 (monthly filer) or for the last quarter ending 30th June 2021 (quarterly filer), as per CGST Rule 59(6).
If Form GSTR-3B is applicable for the selected period can be filed. The Invoice Furnishing Facility (IFF) is a service that allows quarterly taxpayers in the QRMP system to register their taxable outward supplies to a registered person.