What is GSTR 3?

We have already discussed various heads under GSTR 1 and GSTR 2.

  • GSTR 1 requires the taxpayer to furnish details of outward supplies or sales.
  • GSTR 2 requires furnishing details of inward supplies or purchases.

Here we will discuss various heads and their source of information for GSTR 3 which is a monthly GST Return.

GSTR 3 has a total of 15 headings, the taxable person need not worry as most of these will be pre-filled. But we need to understand certain terms:

  1. GSTIN – Goods and Services Taxpayer Identification Number
  2. UIN – Unique Identification Number
  3. UQC – Unit Quantity Code
  4. HSN – Harmonised System of Nomenclature
  5. SAC – Services Accounting Code
  6. POS – Place of Supply of Goods and Services
  7. B2B – From one registered person to another registered person
  8. B2C – From registered person to unregistered person

Key components of GSTR 3

  • GSTR-3 capture the aggregate level outward and inward supply information which will be auto populated through GSTR 1 and GSTR 2.
  • Information would be updated in real time about Input Tax Credit ledger, Cash ledger and Liability ledger. Details of payment of tax and ITC under various tax heads of CGST, SGST, IGST and Cess would be auto-populated from the debit entry in credit/cash ledger, irrespective of mode of filing return.
  • Taxpayer will also have the option of claiming the excess payment of tax as refund for which there will be a field in this return. The return would also have a field to enable the taxpayer to carry forward the excess ITC balance.

Particulars of GSTR 3

1. GSTIN – It is state-wise PAN-based 15-digit Goods and Services Taxpayer Identification Number (GSTIN) for each taxpayer. This column will be auto-filled.

2. Name of the Registered Person – Name of the taxpayer will be auto-filled at the time of logging into the common GST Portal. Trade Name, if any, should be separately provided.

gstr 1 table 1 and 2

Part A: It includes Tables 3 to 11 and the Information in this part will be auto-populated

3. Turnover

gstr 3 table 3Turnover of all types of supplies are consolidated under this heading. Gross turnover needs to be bifurcated between:

4. Outward supplies

gstr 3 table 4.1

gstr 3 table 4.2

gstr 3 table 4.3

All the details filed in GSTR 1 will automatically come under this heading. GSTR 1 requires an assessee to furnish details of outward supplies. All such information gets auto-populated under their respective subheadings which are as follows:

  • Inter-State Supplies to Registered Taxable Person
  • Intra-State Supplies to Registered Taxable Person
  • Inter-State Supplies to Consumers
  • Intra-State Supplies to Consumers
  • Exports (including deemed exports)
  • Revision of Supply Invoices / Credit Notes / Debit Notes
  • Total Tax Liability on Outward Supplies

5. Inward supplies attracting reverse charge including import of services (Net of advance adjustments)

gstr 3 table 5a

gstr 3 table 5b

6. Input tax credit

gstr 3 table 6ITC received during the month – Total amount of eligible input tax credit available on taxable inward supplies filed in GSTR 2 relating to inputs, input services, and capital goods (including imports and ISD) will get auto-populated here.

7. Addition and reduction of amount in output tax for mismatch and other reasons

gstr 3 table 7

8.Total Tax Liability

gstr 3 table 8Total Tax Liability for the month – All the outward supplies and inward supplies declared above will be used to automatically calculate the tax liability under this heading. Taxpayer will determine his tax liability from dealing in goods and provision of services both. Also, a separate value will be shown for CGST, SGST, and IGST respectively.

9. Credit of TDS and TCS

gstr 3 table 9

  • TDS credit – Any tax credit available by way of tax deducted at source will be auto-populated here from taxpayer’s GSTR 2.
  • TCS credit – Similar to TDS above, in the case of E-commerce marketplace sellers, any amount of TCS collected by the E-commerce operator will be available here. This information will again be flowing from the GSTR 2 filed for the same period.

10. Interest liability

gstr 3 table 10Interest Liability on late filing will be calculated here.

11. Late Fee

gstr 3 table 11This will include the details of the Late Fees that is being paid and payable to the Central and the State Government.

Part B

12. Tax payable and paid

gstr 3 table 12This will include the details of the tax that is being paid and payable to the Cental and the State Government.

13. Interest, Late Fee and any other amount payable and paid

gstr 3 table 13This will include the details of the Interest and Late Fees that is being paid and payable to the Central and the State Government.

14. Refund claimed from Electronic cash ledger

gstr 3 table 14

15. Debit entries in electronic cash/Credit ledger for tax/interest payment

gstr 3 table 15It includes the details of the debit entries in cash ledger for tax/interest payment and it is to be populated after payment of tax and submissions of return.

In case you are confused about GST as a business owner, feel free to consult the GST experts at LegalRaasta. You can get comprehensive assistance on GST Registration online and GST Return Filing. You can also use our GST compliance software for doing end-to-end GST compliance.