Just eight days left for filing Goods and Service Tax Return form 3B (GSTR-3B) for the month of July. This is the first tax return the traders will be filing after the roll out of new tax regime Goods and Service Tax (GST). 

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Goods and Service Tax Network (GSTN) on its portal has already opened the filing process of GSTR-3B. The last date to submit the form is August 20. 

Form GSTR-3B needs to be filed by a taxable person under GST for submitting the provisional assessment of the tax liability. Each manufacturer, trader, service provider who is liable to register under GST has to complete a self-assessment of his taxes and has to file form GSTR-3B.

If you are thinking to avoid filing the form, then beware of penalties. 

Archit Gupta, Founder & CEO ClearTax, said, "Filing GSTR-3B is mandatory. Even if a business has no transactions during July, it will still have to file nil return. If you do not file by 20th August, you will be liable to pay interest and a late fee. Interest is 18% per annum."

Businesses need to submit GSTR-3B by August 20, this is what the form is

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