Due Date for Filing GST Return and making Payment Under GST: Updated with 23rd meeting of GST council held on 10th November 2017

Taxation

Due Date for Filing GST Return and making payment of GST

We have received many queries regarding GST Return and Payment , here in this article we will try to show a clear picture of GST Return and payment for a taxpayer (except composition supplier) registered under GST law. There are various GST Returns, which are required to be filed by different category of Taxpayer. Here we will discuss only about GST returns which are required to be filed by a normal taxpayer except Composition dealer, Tax Deductor under GST, Non-Resident and E-commerce operator . Generally, a normal taxpayer register in GST, is required to file 37 GST returns in one year i.e. three return every month GSTR-1, GSTR-2 and GSTR-3 and one annual return GSTR-9. The brief description of GST return along with due date are given below:-

  1. GSTR-1 (10th of the Next month): GSTR-1 is for detail of outward supplies of taxable goods and services. Generally this return is required to filed before 10th of next month. GST was roll out on 1st July 2017, Since then due date for filing of GST return has been revised many times. (Updated due date is given in summary in the end of this article)
  2. GSTR-2 (15th of the Next month): GSTR-2 is for detail of inward supplies of taxable goods and services. Generally this return is required to filed before 15th of next month. GST was roll out on 1st July 2017, Since then due date for filing of GST return has been revised many times. (Updated due date is given in summary in the end of this article)                                                                                                                                                                                            
  3. GSTR-3 (20th of the Next month): GSTR-3 is monthly return filed along with detail of GST payment. Hence GST need to be paid before 20th of Next month. Generally this return is required to filed before 20th of next month along with detail of GST payment. GST was roll out on 1st July 2017, Since then due date for filing of GST return has been revised many times. (Updated due date is given in summary in the end of this article)          
  4. GSTR-3B (20th of Next month till further notification): GSTR-3B is a simpler return that need to filed due to extension provided by government in filing other returns.  Govt. has extended the due date for filing GSTR-1, 2 &3  many times after implementation of GST. Hence introduced form 3B which is required to filed along with detail of GST payment. As per decision taken in 23rd meeting of GST council, All taxpayers are required to file monthly return in Form GSTR-3B along with payment of tax by 20thof the succeeding month till March, 2018. (Updated due date is given in summary in the end of this article)                                                                    
  5.  GSTR-9 (31st December of Next Financial year): GSTR-9 is annual return need to be filed before 31st December of next financial year.

Click here to know updated Due date for making payment of GST and filing GST Return

Other important decision taken in 23rd GST council meeting held on 10th November 2017:-

  • Late fees paid by taxpayers for GSTR-3B for month of July, August and September has been waived and the same will be re-credited to their Electronic Cash Ledger under “Tax” head instead of “Fee” head.)
  • From October 2017 onwards, the amount of late fee payable by a taxpayer shall be Rs. 20 per day if tax liability for the month is ‘Nil’ (Rs. 10 per day each under CGST and SGST Acts.)
  • The due date of TRAN-1 has been extended to December 27,2017 and due date for filing of GSTR-4 for the quarter July- September,2017 has been extended to December 24, 2017.
  • Only 50 items will remain under 28% tax slab and tax rate of existing 177 items will be reduced from 28% to 18%. 
  • All restaurants whether air conditioned or not, will attract 5% GST without Input Tax Credit.
  • Restaurants in hotel premises having declared room tariff of less than Rs 7,500 per room per day will attract GST of 5% without ITC.
  • It has also been decided that maximum “Annual turnover” eligibility for composition scheme will be increased to Rs. 2 crore in future from the present limit of Rs. 1 crore in the CGST Act. However presently it is  increased to Rs. 1.5 crore.
  • It has been decided that a facility for manual filing of application for advance ruling is being introduced.

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CA Ashok Kumar