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India pre-filled GST transaction returns 2021

GSTR 3B transaction draft report now available from tax authorities

India is to introduce pre-filled Goods & Services transaction report, GSTR 3B, will now be pre-completed for taxpayers from 1 January 202.  This is based on India e-invoice submissions and of all its suppliers filed earlier in the reporting month in form GSTR 1.

GSTR-3B is a self-declared summary GST return filed every month (quarterly for the small business QRMP scheme. It contains the following sections:

  • Details of business activities and tax liabilities for the current tax period.
  • This month’s GST-return related information, including Return Status.
  • Tax totals on outward and inward supplies liable to reverse charge, Central, State and CESS
  • Interstate supplies (supplies made to unregistered persons, composition taxable persons, UIN holders)
  • Details pertaining to eligible ITC (Input Tax Credit)
  • Exempt, nil and non-GST inward supplies
  • Interest and late fee
  • Payment of Tax

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