The entire country is rapidly moving towards accepting GST, and with initial few months of glitches and confusion things are settling now, and the Govt. of India is responding to all of the feedback and making changes in the policies to make it easier for businesses to file returns without any confusion or hassle.

As such the govt. introduced a form known as GSTR 3B which is the first form to be used for filing your GST returns.

However, this form was meant only for the initial few months, but it stood the test of time and continued to be in effect with some of the major changes as highlighted below:

Major Changes In GSTR 3B

•        The system lacked some transparency while ascertaining the liable tax returns to be paid by a person and you were not allowed to change it after submission. Now, the monetary details are shown before filing returns.

•        The need to manually fill the credit utilization amount and generate the challan is now eliminated by making the entire process automatic along with the flexibility to edit credit amount.

•        Now you can save all the details any time you want by downloading draft returns to verify all the data.

•        You are only supposed to fill up GST/IGST/CGST/UTGST amount, and the rest of the amount will be filled automatically. This makes the entire process much simpler compared to earlier existing systems.

•        Under GSTR 3B no refund can be claimed as invoice wise details must be provided in form GSTR 1 for further processing and verifying the invoice details.

•        All the information under REG-26 has to be furnished by the migrated taxpayers in order to submit your GSTR 3B form.

•        After filing the direct form, revision is prohibited by the govt. and it can be done only through the filing of GSTR1, GSTR2, and GSTR 3.

If you are registered and complying with GST and possess a GSTIN, then you need to file GSTR 3B. If you have more than one GSTIN, then different GSTR 3B forms must be furnished for each of those registration numbers.

Even if you haven’t done any transaction, you must submit a zero GSTR 3B. All the new changes incorporated make the entire tax collection and filing the returns much easier and user-friendly. The current system of GSTR 3B is expected to continue.