Key updates in GSTR 3B August 2020
- Table 3 (liabilities) of GSTR 3B shall be computed automatically by the GST portal based on GSTR 1 filed by the assessees.
- As of now this facility is available for monthly GSTR 1 filers. It will be made available for quarterly GSTR 1 filers too in due course
- For the GSTR 3B for August 2020 and onwards, the system will compute liabilities in PDF format from the GSTR 1 filed
- The system will compute and generate PDF mentioning liability , few minutes after the monthly GSTR 1 has been filed.
- The system computed GSTR 3B in PDF format could be found on the GSTR 3B dashboard itself
- The PDF will contain the system computed liabilities for GSTR 3B (Table 3) along with the break-up , on the basis of GSTR 1 filed
- The values mentioned in the system computed PDF is not final. The values in the PDF should be verified before filing GSTR 3B
- This initiative is believed to minimize errors and mismatch in return filing and also in improving overall tax compliance
- It is also expected to help in long term reconciliation of GSTR 1 an GSTR 3B
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