New Delhi, August 9: The government has notified the timeline for furnishing final tax returns for July and August under the Goods and Services Tax (GST) regime. The GST Council, chaired by Finance Minister Arun Jaitley and comprising state counterparts, had in June allowed businesses extended timeline 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.
The Central Board of Excise and Customs (CBEC) has now notified the dates for filing the GST returns forms.
As per the notification, outward supplies in Form GSTR-1 for the month of 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-1 was 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 date is September 21-25. The original date for filing of GSTR-2 was 15th of the next month.
Businesses can file returns, pay taxes for July on GSTN portal
Businesses can start filing their first tax return under the new Goods and Services Tax (GST) regime as the GST Network has started the facility for return filing and paying taxes on the portal.
“The window for filing GSTR-3B has opened on August 5 and is fully functional now. Taxpayers can log into their account at the GST Portal and file their GSTR-3B return any time. They can also make tax payment using internet banking at the portal,” GSTN Chairman Navin Kumar said.
Over 71.30 lakh excise, service tax and VAT payers have migrated to the GSTN portal and over 15 lakh new assesses have registered on the portal.