November 15, 2017

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GST filling deadlines postponed- Get to know the revised dates.

To help taxpayers deal smoothly with the complexity of GST, the GST council has shifted the date for filing GST returns for taxpayers. This move came after the most recent meeting of the GST council that took place in Guwahati. The new deadline for filing GSTR 3B has now been extended to March 2018, and the deadlines for GSTR 2 and 3 have been extended indefinitely.

According to the Finance Secretary, the taxpayers falling in the nil tax payment or small tax payments, 3B has been simplified to the extent of getting completed within 2 – 3 steps. However, for this fiscal year GSTR 1 will still have to be filed according to the following dates.
  1.   Pending GSTR1 invoices from July to September by 31st December 2017. ( Followed by a gap of 40 days between the remaining returns)
  2. October to December Quarter – 15th February 2018.
  3. January to March Quarter – 30th April 2018.
  4. The penalties for delayed filing of tax returns have also been reduced depending on which category of taxpayer one falls in. For those in the nil category the penalty has come down to Rs 20 from Rs 200 per day. For other categories it is Rs 50 per day.  


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