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Important things to know about GSTR-3B

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In India, taxpayers are required to file various returns. GSTR-3B is a monthly summary that must be filed. If you don’t file GSTR-3B, you won’t be able to claim a credit for the input tax you paid. Penalties and late fees may be imposed. The GSTR-3B is due on the 20th of the next month. For example, the GSTR-3B due date for May 2022 is 20 June 2022.

GSTR-3B requires the month’s total value. Before filing GSTR-3B, make sure you know what taxes you owe and how much you owe.

Who is responsible for filing GSTR-3b?

Regardless of whether they had any commercial transactions in that month or not, all registered suppliers are required to file GSTR-3b. GST portal can be used for the filing of the same. 

Dealers enrolled under the composition scheme, input service providers. Non-resident taxable persons, as well as providers of online information, database access, or retrieval services who are required to pay taxes, are excluded from submitting GSTR-3b.

Final Words

I hope, I gave you some insights about GSTR-3b and delivered it in the best possible way. 

DO SHARE THIS ARTICLE with your friends or family who are not aware of GSTR-3B.  You can tweet out your thoughts by tagging me @rajatinr on Twitter.

To your Success

-Rajat Negi, Logging Out 🤗

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Rajat Negi

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