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Traders to file GST Form 3B by August 20
CAIT National President BC Bhartia & Secretary General Praveen Khandelwal while informing the trading community about this obligation said that in Form3B, invoice wise details are not required but full details of outward and inward supplies are to be given along with tax details.

Prior to filing of their first GST return on 5th September for the month of July, the entities registered under GST are under obligation to file Form 3B by 20th August, as summary return for the business transections made in the month of July.

Besides filing the return, the entities will have to deposit GST tax for the month of July to the credit of Govt exchequer by 20th August. This form has been introduced last week probably to bridge the gap caused due to extension of return filing by the Govt for first two months and is being seen as a temporary measure till regular filing of returns is restored-said Confederation of All India Traders (CAIT).                                                

In Form 3B, consolidated details of outward supplies made, inward receipts, details of supplies liable for reverse charge, eligible input tax credit, details of inter-state supplies made to unregistered persons, composition taxable persons and UIN holders and also the details of tax payment needs to be submitted.

These details need to be entered state-wise/ union-territory-wise total with taxable value and total IGST levied on these supplies. Details of inward supplies made from the composition dealer, inward supplies at nil rate and from exempted goods and non-GST inward supplies, if any, also need to be submitted in this Form.                     

This form will be available on the GST portal and one needs to file it electronically through GSTN portal.

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