Pre-filled GSTR-3B form soon to ease tax payment says GSTN CEO Prakash Kumar

GSTN - GSTR 3B - Prakash Kumar - GST - Taxscan

GST Network(GSTN) Chief Executive Officer Prakash Kumar on Monday said that GST-registered businesses will soon get a pre-filled Return form, GSTR-3B.

Mr. Kumar proclaimed that GSTN is moving towards providing taxpayers with a pre-filled GSTR-3B form so that they can pay their taxes at ease. To start with, an option to edit the form would be provided to allow businesses to make past adjustments etc.

GSTN, which handles the IT spine for Items and Products and Services Tax (GST) has already begun offering tax legal responsibility knowledge in keeping with gross sales go back GSTR-1 of the taxpayer for use in his tax fee shape GSTR-3B in pdf shape.

It is usually offering taxpayers auto-generated invoice-wise enter tax credit score (ITC) statements in keeping with data furnished through the providers of the taxpayer. Kumar mentioned this necessarily signifies that the taxpayer can understand how a lot of ITC is to be had for the month.

These days, the legal responsibility and ITC are being equipped as separate pdf paperwork. After two months, those two units of information will mechanically get started flowing in GSTR-3B go back, Kumar added.

This is step one in opposition to connecting GSTR-1 which has business-to-business (B2B) bill knowledge at the side of knowledge on exports, business-to-consumer (B2C) provides, and so on and GSTR-3B, he mentioned.

The transfer is anticipated to ease the taxpayer bother of copy-pasting more than a few numbers from gross sales going back to GSTR-1 to GSTR-3B.

“These functionalities had been completed for per 30 days filers of GSTR-1 and capability for quarterly filers can be presented in the end,” Mr. Kumar mentioned.

GSTN has over 1.26 crore registered taxpayers, out of which 1.07 crore are required to report GSTR-1 and GSTR-3B. Of the 1.07 crore taxpayers, around 58 lakh report GSTR-1 on per 30 days foundation, while closing reports at quarterly frequency.

On the other hand, all 1.07 crore taxpayers have to report a per 30 days tax go back, GSTR-3B.