{"id":16126,"date":"2020-09-10T15:25:50","date_gmt":"2020-09-10T09:55:50","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=16126"},"modified":"2020-12-04T14:42:33","modified_gmt":"2020-12-04T09:12:33","slug":"gstn-allows-generation-of-system-computed-liability-for-gstr-3b","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/gstn-allows-generation-of-system-computed-liability-for-gstr-3b\/","title":{"rendered":"GSTN Allows Generation of System Computed Liability for GSTR-3B"},"content":{"rendered":"\n<p class=\"has-drop-cap\">The Goods and Services Tax Network has allowed the System to\ncompute liability for GSTR-3B that is <strong><em>Table-3 for liabilities<\/em><\/strong> based on GSTR-1\nfiled by taxpayers are now available on the GST portal. <\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Page Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/corpbiz.io\/learning\/gstn-allows-generation-of-system-computed-liability-for-gstr-3b\/#What_is_GSTR-_3B\" >What is GSTR-\n3B?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/corpbiz.io\/learning\/gstn-allows-generation-of-system-computed-liability-for-gstr-3b\/#What_is_GSTR-1\" >What is GSTR-1?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/corpbiz.io\/learning\/gstn-allows-generation-of-system-computed-liability-for-gstr-3b\/#Interpretation_of_the_Notification\" >Interpretation of the Notification<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/corpbiz.io\/learning\/gstn-allows-generation-of-system-computed-liability-for-gstr-3b\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_GSTR-_3B\"><\/span>What is GSTR-\n3B?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>GSTR-3B is summary return filed by a taxpayer by the 20th of\nthe next month. It is a monthly return. In this Form,\ntaxpayers are required to summarize and report the total values of purchases\nand sales, without invoice details.<\/p>\n\n\n\n<p>GSTR-3B relates with supplies made during the month in which <a href=\"https:\/\/corpbiz.io\/gst-registration\"><strong>Goods and services tax<\/strong><\/a> is to be paid, ITC claimed, purchases on which reverse charge is applicable and also makes a provision for the payment of taxes for the relevant month. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_GSTR-1\"><\/span>What is GSTR-1?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>GSTR-1 is a return filed by taxpayers to disclose details of their outward supplies along with their tax liability on monthly or quarterly basis. In GSTR-1, invoice details are required to be uploaded so that the Government can keep a track of every transaction. This helps the recipient of supplies to accept and take the eligible input tax credit.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" width=\"587\" height=\"383\" src=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/09\/image-44.png\" alt=\"What is GSTR-1\" class=\"wp-image-16127\" srcset=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/09\/image-44.png 587w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/09\/image-44-300x196.png 300w\" sizes=\"(max-width: 587px) 100vw, 587px\" \/><\/figure><\/div>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/multiple-registration-under-gst\/\">Multiple Registration Under GST<\/a><\/mark><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Interpretation_of_the_Notification\"><\/span>Interpretation of the Notification<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>According to the notification, the Goods and Services Tax\nNetwork has allowed the System to compute liability for GSTR-3B that is <strong><em>Table-3\nfor liabilities<\/em><\/strong> based on GSTR-1 filed by taxpayers are now available on\nthe GST portal. <\/p>\n\n\n\n<p>Comparing GSTR-3B with GSTR-1 is a necessary process to be undertaken by every taxpayer to ensure no variations or gaps. That could lead to demand a notice from the tax authorities or any unwanted issues that can arise and hinder the accurate filing of the annual <a href=\"https:\/\/corpbiz.io\/gst-return-filing\"><strong>GST return<\/strong><\/a>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What is the difference between GSTR-3B &amp; GSTR-1 Forms?<\/h3>\n\n\n\n<p>It is a summarized return Form while GSTR-1 is a reporting of all output invoices and taxes on them. It was originally visualized that GSTR-3B and information and taxes as performs GSTR-1, 2, 3 will be prepared to be accepted via system based reconciliation.<\/p>\n\n\n\n<p><strong><em>It has been understood that the two Forms are not supposed to be a one-on-one match. A difference may exist due to many reasons, those are as follows:-<\/em><\/strong><\/p>\n\n\n\n<ul><li>Order received last minute and\nnot included;<\/li><li>Sales incorrectly counted twice;<\/li><li>Inter-state supply unintentionally\nshown as intra-state supply or vice-versa;<\/li><li>Sales returns not included or\nexports wrongly included. <\/li><\/ul>\n\n\n\n<p>Invoices which are not confined via summarized GSTR-3B are then offered in the next month\u2019s GSTR-3B, and due <em><strong>tax<\/strong><\/em><sup><a href=\"https:\/\/en.wikipedia.org\/wiki\/Tax\"><em><strong>[1]<\/strong><\/em><\/a><\/sup> and interest on it must be paid next month itself.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nConclusion\n\n\n\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Taxpayers have to report the full invoicing of a month in its GSTR-1 form, including missed or incorrectly details reported in the same month\u2019s GSTR-3B. It\u2019s a common mechanism. In case of system reconciliation any additional tax liability adds up on its own with the filing of the three forms, it should be paid accordingly. Without this mechanism any reconciliation done between GSTR-3B and GSTR-1 is likely to make gaps which can be due to the reasons as mentioned above. <\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/cbic-extension-of-deadline-for-gst-return-filing-fy-2019-20\/\">CBIC: Extension of deadline for GST Return Filing FY 2019-20<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Goods and Services Tax Network has allowed the System to compute liability for GSTR-3B that is Table-3 for liabilities based on GSTR-1 filed by taxpayers are now available on the GST portal. What is GSTR- 3B? GSTR-3B is summary return filed by a taxpayer by the 20th of the next month. It is a [&hellip;]<\/p>\n","protected":false},"author":18,"featured_media":16153,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[16,153],"tags":[986],"acf":{"service_id":"96"},"authorName":"Sakshi Srivastava","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2020\/03\/IMG-20180130-WA0007.jpg","authorDescription":"Sakshi has pursued B.B.A.LL.B.(IPR Hons.). She is an avid reader and is keen to gather and share her knowledge on the subjects relating to IPR, Company Law and GST. Priorly she has worked as a legal researcher and vide her articles she aims at improving the core knowledge of the subjects to the masses.","postViews":2892,"readingTime":2,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/16126"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/18"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=16126"}],"version-history":[{"count":7,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/16126\/revisions"}],"predecessor-version":[{"id":21089,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/16126\/revisions\/21089"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/16153"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=16126"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=16126"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=16126"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}