Govt advances deadline for GST seller returns

The government has advanced the deadlines for filing of seller forms under the goods and services tax, GSTR1, for April, May and June, in comparison to those given for previous months.

GSTR-1 for the month of April will have to be filed by May 31. Earlier, 40 days were given for filing these, which would have made June 10 the deadline. Returns for May have to be filed by June 10 and for June by July 10. So, only 10 days after the month ends, against the earlier 40 days.

Abhishek Jain, indirect tax partner at consultants EY India, said businesses take four of five days to close the accounts after GSTR-1 was retained; GSTR-2 the month ends. Leaving them and GSTR-3 forms were suspended. five or six days to file the return. In place of GSTR-3

However, the government came GSTR-3B, meant for the has not changed the deadline initial months but continuing. for filing GSTR-3B. These are to Also, the government gave still be filed by the 20th of the 40 days for an assessee to file following month. The idea is to GSTR-1 after the month in allow reconciliation between question ended. Since GSTR-2 the two forms, GSTR-3B and has been suspended, such reconciliation GSTR-1. According to the original will enable companies plan, the GST Council had to liase with their vendors decided to give only 10 days to to rectify any incorrect recording file GSTR-1, after which GSTR-2, at their end, Jain said. the return for buyers, had to be However, the issue is why finalised and filed within the the deadlines have been next five days. These were to be changed when the group of then used for filing GSTR-3 ministers on the subject, headed forms, to claim credits. by Bihar's deputy chief minister,

However, the outcry over Sushil Modi, is trying to complicated returns prompted bring the in Council single returns. to redo this.