GSTN Enables Auto- Populated GSTR-3B Return

GSTN Enables Auto

From November 2020 tax period onward, the system will auto populate GSTR-3B (monthly) on the basis of details filed in GSTR-1 along with auto-drafted ITC statement GSTR-2B.

Based on the supplies return GSTR-1 filed by businesses, GSTN will auto-populate the liabilities, while input tax credit (ITC) would be populated from system-drafted statement GSTR-2B.

“If the total liability of a particular period is negative on account of debit/credit notes, the same will be auto-populated as zero liability,” GSTN said.

While businesses file GSTR-1 of a particular month by the 11th day of the subsequent month, GSTR-3B is filed in a staggered manner between 20th-24th day of the succeeding month.

Also, the facility of communication between taxpayers has been enabled on the GST portal.

Source: Businesses to get fully auto-populated monthly sales return form GSTR-3B

Knowledge Source:

Central Government Releases Rs 6000 crore as GST Compensation

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