In this video I will tell you regarding how to file new simplified GSTR-3B return released on 20th February 2018
Advisory to Taxpayers on Improved GSTR-3B Return Filing Process
• Filing of GSTR 3B Return made easier and user friendly.
• Optimum utilization of ITC is displayed by System, which however can be edited.
• The amount to be paid in cash after taking into account ITC, gets displayed.
• One click Challan preparation to avoid payment of tax under wrong heads.
• FAQs and User Manual are provided alongwith pop ups, to guide taxpayers while filling Form GSTR 3B.
• Fill either CGST or SGST/UGST amount, other tax will get auto filled.
• Form GSTR 3B can be previewed or downloaded, for cross verifying saved details in any table(s), by Clicking PREVIEW DRAFT GSTR-3B button. The draft Summary page of your GSTR-3B can be downloaded for review.
• Once taxpayer proceeds to payment, the details of balances as available in cash and credit ledgers can be seen (refer Table 6.1 – Payments Table) at one place.
• Tax liabilities as declared in the return along with the credits gets updated in the ledgers and displayed in the “Tax payable” column of the payment section and can be seen while hovering on the said headings of credit in the payment section.
• System auto-populates “Tax to be paid through ITC” fields with optimum utilization amounts based on provisions of the law relating to credit utilisation. It is suggestive and taxpayer may edit the ITC utilization. In case ITC utilization is changed, the cash to be paid also gets changed accordingly.
• If available cash balance in Electronic cash ledger is insufficient to offset the liabilities, additional cash required for paying liability is displayed in the last column of the Table (Additional cash required). Taxpayer may create challan for that amount directly by clicking on the CREATE CHALLAN button. Once online payment is made, system will navigate back to Payments Table.
• Click the MAKE PAYMENT/POST CREDIT TO LEDGER button to pay off the liabilities or to claim credit in case of no liabilities.
• Click “Proceed to file” and File GSTR-3B with EVC or File GSTR-3B with DSC. ("Submit" button has been removed).
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sir i have filed gstr3b and got challan receipt as well..but on dashboard it is still showing return not filed.I made complaint on grievances portal but did not received satisfactory reply.what should i do?
sir I am new in this field maine new business start kiya lekin response nhi hone ke karan band kr diya maine GST no. le liya tha lekin mujhe rules nhi pata he ab use close krna h to kaise karu cz maine business hi discontinued kr diya
Awesome.. Thank you so much. I would like to know that whether I should claim ITC partly in every month from the total taxable value (calculating the total amount of sell), or to claim the total ITC at once only in that month in which I have made the purchase.
Tax Deposit Information For the date range, provides taxable earnings totals, Federal 941, 940 and State tax deposit information.
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The level of manual tasks, duplication and non-value added activities in the payroll process often prevent staff from providing the reports that management require on a timely basis.
The best practice for providing management information that is timely, useful and relevant is automating, simplifying and standardising as many processes and tasks as possible, to eliminate unnecessary complexity and inconsistencies. This will reduce opportunities for error or fraud and make it easier to track the quantity and quality of information flowing to payroll.
A holistic approach that considers factors across all business dimensions, including strategy, structure, people, process and technology, creates reporting that is highly sustainable and scalable.
If you do not feel confident in your reporting capabilities or would like to improve your reports, technology could be a valuable ally providing master data that is clean, up to date and which can be relied upon.
Employee Advance Summary For the date range lists Advances paid and repaid with beginning and ending balances, one line per employee.
Employee Payroll Summary Lists for the date range Gross Pay, Total Withholdings, Credits, Reimbursements, Advances and Checks Total, one employee per line.
Payroll Journal Summary.
Payroll Journal Summary For the date range selected provides posting debit and credit totals for the Accounting sections Assets, Liabilities, Revenue and Expenses, with totals by General Ledger account number within each section.
Tax Liability Summary.
Form 941 Information For the date range selected, provides total Federal and State taxable wages, EIC credits, and other tax deposit information relevant to the 941 report.