Economy

Govt extends deadline to file GSTR-2, GSTR-3 by a month

The government has extended the last date for filing of GSTR-2 or purchase returns for July to 30th of November to facilitate businesses and taxpayers.

Business when uploading the invoice to the government in filing their tax returns, can separately indicate the GST component and the selling price of the product.

The last date for filing of GSTR-1 for the month of July was October 1. The GST Council will now meet on November 10 and the issue will then be taken up by Union Finance Minister Arun Jaitley. Whereas, GSTR-3 is a matching form of GSTR-1 and GSTR-2.

The challenges faced by some of the taxpayers in dealing with mismatches in GSTR-2 would hopefully get resolved in November, Mani added. But with the brilliant concept, the IT platform of GST i.e.

A Notification in this regard is being issued shortly - to facilitate about 30.81 lakh taxpayers for filing GSTR-2 for month of July, 2017, the Finance Ministry tweeted.

Earlier, the last date for GSTR-2 was to 31st of this month. Reports state that after the GST roll out on July 1, many issues have surfaced that have impacted several businesses.

GST expert Pritam Mahure told IANS: "This extension was necessitated as many technical glitches were cropping up during GSTR-2 filing". This return requires matching and reconciling and automatic review, to make sure manual effort is minimised.Since the last date for submission of audited ITRs and GSTR-2 coincided, it put a strain on some taxpayers.



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