GST filings going smoothly

new delhi — Unlike the technical snags faced by traders earlier, the first return filing under the Goods and Services Tax (GST) was progressing smoothly on Friday, the last day to file form GSTR-3B, tax accountants said.

August 25 is the last date for filing GSTR-3B form, which is a summary return of details of outward supplies, inward supplies, credit and payment of GST, for the month of July.

“Today, GSTR-3B filing is a smooth ride. The portal is working without technical snags. In a few cases, taxpayers have already uploaded their details and have informed that it is much faster,” Jigar Doshi, a partner at SKP Business Consulting, told IANS.

The government had earlier announced a five-day extension for filing GST returns until Friday, after the GST return filing portal had stopped functioning and traders across the country could not file returns.

“The GST site is responsive and we hope it remains so during uploading of invoice level GSTR1 filings. We hope to have similar snag-free experience in GSTR-1 filings,” Atul Bohra, chief financial officer of Kolte Patil Developers, said. Apart from GSTR 3B, three forms — GSTR 1, GSTR 2 and GSTR 3 — need to be filed by businesses. For July, the three forms will have to be filed between September 1 and 5, September 6 and 10 and September 11 and 15, respectively.

Form GSTR 1 would reflect sales of a business, GSTR 2 would reflect purchases and GSTR 3 is a combination of sales and purchases. —