GSTR-3B Filing Due Date Extended upto 28 Aug. 2017 for Transitional ITC Claim Cases: CBEC

CBEC Extends GSTR-3B Filing Due Date upto 28 Aug. 2017 for Transitional ITC Claim Cases; Clarifies regarding availability of Transitional Credit form TRANS-I on GST Portal

As per CGST Rules 2017, GST for July 2017 has to be paid by 20 August, 2017, after which the summary GST return GSTR-3B can be filed. However, in view of non-provision of TRANS-I on GST Portal, CBEC has extended due date for filing of GSTR-3B upto 28 Aug. 2017 (along with TRANS-I), in the cases where Transitional ITC claims are applicable, whereas net taxes are to be paid by 20 Aug. 2017 only.

Concerns have been raised by the taxpayers that the form for claiming transitional input tax credit (TRANS-I) has not been made available on the GSTN website/ GST Portal. Therefore the CBEC has clarified that the form TRANS-1 will be available on the GSTN website from 21 August, 2017.

In view of this, a small relaxation has given by CBEC to all the taxpayers who want to avail transitional input tax credit. On the other side taxpayers those who do not want to claim any transitional input tax credit have to necessarily pay the tax and file return in Form GSTR-3B before the said due date (i.e. 20 August, 2017).

The taxpayers who want to avail the transitional input tax credit should also calculate their tax liability after estimating the amount of transitional credit as per Form TRANS I. They have to make full settlement of the liability after adjusting the transitional input tax credit before 20 August, 2017. However, in such cases, they will get time upto 28 August, 2017 to submit Form TRANS I and Form GSTR-3B. In case of shortfall in the amount already paid vis-à-vis the amount payable on submission of Form GSTR-3B, the same will have to be paid with interest @ 18% for the period between 21 August,2017 till the payment of such differential amount.

Clarification on Transitional ITC and GSTR-3B: CBEC Press Release dt. 17 Aug. 2017

CBEC’s Step by Step Guide on Calculating GST Liability for July 2017

A. Registered persons planning not to avail transitional credit for discharging the tax liability for the month of July, 2017 or new registrants who do not have any transitional credit to avail need to follow the steps as detailed below: 

I. Calculate the tax payable as per the following formula:

Tax payable = (Output tax liability + Tax payable under reverse charge) – input tax credit availed for the month of July, 2017; 

II. Tax payable as per (i) above to be deposited in cash on or before 20.08.2017 which will get credited to electronic cash ledger;

III. File the return in FORM GSTR-3B on or before 20.08.2017 after discharging the tax liability by debiting the electronic credit or cash ledger.

B. Registered persons planning to avail transitional credit for discharging the tax liability for the month of July, 2017 need to follow the steps as detailed below: 

I. Calculate the tax payable as per the following formula:

Tax payable = (Output tax liability + Tax payable under reverse charge) – (transitional credit + input tax credit availed for the month of July, 2017); 

II. Tax payable as per (i) above to be deposited in cash on or before 20.08.2017 which will get credited to electronic cash ledger;

III.File FORM GST TRAN-1 (which will be available on the common portal from 21.08.2017) before filing the return in FORM GSTR-3B;

IV.In case the tax payable as per the return in FORM GSTR-3B is greater than the cash amount deposited as per (ii) above, deposit the balance in cash along with interest @18% calculated from 21.08.2017 till the date of such deposit. This amount will also get credited to electronic cash ledger;

V. File the return in FORM GSTR-3B on or before 28.08.2017 after discharging the tax liability by debiting the electronic credit or cash ledger.

CBEC’s Step by Step Guide to Calculate GST Liability for July 2017 (Transitional ITC Claim cases)

CBEC Notifies Last Date and Conditions for filing the GST return in FORM GSTR-3B for July, 2017

The CBEC has notified amended provisions on last date for filing of GSTR-3B for the m/o July 2017 for certain Class of registered persons, along with applicable conditions, besides stating provisions regarding payment of taxes for discharge of tax liability as per GSTR-3B, as under:

Last Date and Conditions for Filing GSTR-3B: CBEC Notification 23/2017 Central Tax dt. 17 Aug.

Related Posts:

GSTR-3B Filing Due Date Extended upto 25 Aug. 2017 for Taxpayers not claiming Transitional ITC: CBEC

No Penalty on Late Filing of GSTR-3B (July 2017): CBEC Notification

GST Return Due Dates Further Extended: CBEC Notifications

One Response

  1. Harsh Aug 28, 2017

Leave a Reply