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BW Businessworld

GST Filing Deadlines Eased By Government

This step has been taken by the government to ensure a well balanced transition that should benefit even small traders and those who may not be ready for the integration of state and national tax.

Photo Credit : http://www.gstindia.biz

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GST Council that is responsible for the scheduled roll out of the comprehensive goods and services tax (GST) by 1 July has decided to relax the filing deadlines at least for the first two months, until September.

This step has been taken by the government to ensure a well balanced transition that should benefit even small traders and those who may not be ready for the integration of state and national tax.

Easing of said filing deadlines until September will not levy any late fees or penalty but only to ensure a seamless integration of the said tax. 

A new form GSTR-3B will be available for the first two months that will help businesses to file returns. They will also get additional 25 days and 10 days in July and August respectively to complete the online filing requirements.

In addition to this, an anti - profiteering body has been set up for 2 years. The Council also postponed its verdict with regard to E-way bills.

The next GST Council meeting is said to take place on 30 June.

This relaxation by the government at least for the first two months is definitely going to be welcomed by big ventures and small traders alike.


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