The deadline for filing some of the GST returns is just four days away. Here are details of returns that are facing the December 31 deadline.
The deadline for filing some of the GST returns is just four days away. The GST Council last month had extended the deadline for filing the GST returns. However, the clock is ticking now as the deadline for filing under two crucial heads is here. The Finance Ministry has advised to not wait for the last day but do it now. First of all, the filing of return is mandatory under the GST, even if there is nil return, it should be filed as nil. Here are details of returns that are facing the December deadline:
GSTR-1: GSTR-1 is the record of all sales. Under this form, business files outward supply (sales) of all goods and services. It has two categories: businesses above 1.5 crore turnover and below Rs 1.5 crore turnover. The deadline for filing the GST returns for July-September 2017 for business with turnover upto Rs 1.5 crore is December 31, while for businesses above 1.5 crore turnover, filing the GST return for July-October 2017 is December 31.
GSTR-6: GSTR-6 is a monthly return that has to be filed by an input service distributor. It basically contains details of input tax credit received by input service distributor. The deadline for filing GSTR-6 for the month of July is December 31.
For now, you don’t need to hurry for GSTR- 3B as its timeline for the filing of initial returns GSTR-3B for all businesses has been extended to March 2018 from December earlier. All taxpayers would file returns in form GSTR-3B along with payment of tax by 20th of the succeeding month till March, 2018.
The time period for filing GSTR-2 and GSTR-3 for the months of July 2017 to March 2018 would be worked out by a committee of officers. Until that time the businesses you will have to file only GSTR-1.
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