Government notifies timeline for filing of tax returns under GST
The government has notified the dates for furnishing final tax returns for July and August under GST regime. The GST Council, chaired by FM Arun Jaitley and comprising his state counterparts, had in June allowed more time to businesses for filing final GST returns in forms GSTR-1, GSTR-2 and GSTR-3 for July and August.
In the interim period, businesses have to file GSTR-3B, which is a summary of self-assessed tax liabilities with consolidated details of outward supplies and input credit. As per the notification, outward supplies in Form GSTR-1 for July will have to be filed between September 1-5. For August, it is to be filed between September 16-20. The original date for filing GSTR-1was 10th of the next month.
Details of inward supplies in Form GSTR-2 for July will have to be filed between September 6-10. For August, the dates are September 21-25. The original date for filing of GSTR-2 was 15th of the next month. Form GSTR-3 for July will now have to be filed between September 11-15 and for August the dates are September 26-30.
The original date for filing GSTR-3, which is the monthly return on the basis of finalisation of details of outward supplies and inward supplies along with the payment of amount of tax, was 20th of the next month.