Economy

Government extends GSTR-2 & GSTR-3 to Nov 30 and Dec 11

Government extends GSTR-2 & GSTR-3 to Nov 30 and Dec 11”

To help businesses file their returns easily, the government has extended the deadline for GSTR-2 and 3 for the month of July.

The finance ministry on Monday extended the deadline for filing GSTR-2 forms by a month to 30 November and for GSTR-3 form to 11 December.

"This will facilitate about 30.81 lakh taxpayers for filing GSTR-2 for the month of July, 2017", it said, adding that a notification will be issued soon.

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The deadline to file GSTR-2 was Tuesday whereas the last date for filing GSTR-3 was November 10. However, the GSTR-1 (sales return) for the same month was filed till October 10.

"GSTR-2 is the most important return for GST compliance since availability of ITC depends on it". Since the last date for submission of audited ITRs and GSTR-2 coincided, it put a strain on some taxpayers.

"GSTR-2 is more challenging because there will be matching of invoices".

GSTN is the information technology (IT) backbone and portal for real-time taxpayer registration, migration, and tax return filing under the GST (Goods and Service Tax).

"We have flagged the issues being faced by businesses in various states". "New deadlines are being given", he said without elaborating.



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