GSTR-3B

Central Board of Indirect Taxes and Customs (CBIC) on Monday extended by a day till November 21 the last date for GST taxpayers in Maharashtra and Jharkhand to file GSTR-3B and pay taxes for October. The polling for the legislative assembly elections in Maharashtra and Jharkhand is scheduled for November 20. In an X post, CBIC said November 20 is also the due date for filing the GSTR-3B return for October 2024, and this may cause difficulty to the taxpayers of these states in finding time to exercise their right to vote for the election. "The Government, with the approval of GST Implementation Committee (GIC), has decided to extend the due date of filing of Form GSTR-3B for the month of October 2024 for the registered persons having their principal place of business in the said states from 2O.11.2024 to 21.11.2024," CBIC said.

The finance ministry has notified the GSTR-1A form which will give an option to taxpayers to amend outward supply or sales return form. Last month, the GST Council had recommended providing a new optional facility by way of form GSTR-1A to facilitate the taxpayers to amend the details in form GSTR-1 for a tax period and/ or to declare additional details. GSTR-1A will, however, have to be filed before filing of return in GSTR-3B for the said tax period. The finance ministry on July 10 notified the GSTR-1A form. Moore Singhi Executive Director Rajat Mohan said the Central Board of Indirect Taxes and Customs (CBIC) has introduced a significant enhancement to the GST compliance framework with the optional facility of form GSTR-1A. "By facilitating timely corrections, form GSTR-1A ensures that the correct tax liability is auto-populated in form GSTR-3B, reducing manual errors and fostering a streamlined compliance process," he said. This amendment not only minimizes the risk of penalt

Tax officers will give reasonable time to erring business to explain reasons for mismatch in turnover reported in sales return GSTR-1 and tax payment form 3B

Late fees for filing summary return or GSTR 3B waived; Interest rate halved to 9% for 15-day delay in the case of GST assesses with turnover of over Rs 5 crore

The government has waived late fee on delayed filing of monthly return GSTR-3B and tax payment for the months of March and April and also cut interest rate for late filers

A person registered under provisions of Companies Act 2013 shall, during the period from 21st April 2020 to 30th June 2020 shall be allowed to furnish the return

From now onwards, there will three dates -- 20th, 22nd and 24th -- of every month for different categories of tax payers

These returns are to be filed by 20th of the month, next to the month of transactions

Gupta of ClearTax feels a further reduction in credit could have been considered later

The new return filing system, if agreed upon by the Council, would take about 3 months to be implemented

GSTR-3B is meant to capture details of outward and inward supplies

Union Finance Minister Arun Jaitley has announced to waive off late fee on the filing of GSTR-3B for August and September. The late fee paid will be credited back to the taxpayer's ledger."To facilitate taxpayers, late fee on filing of GSTR-3B for Aug & Sept has been waived. Late fee paid will be credited back to taxpayer ledger," Jaitley said on Twitter.To facilitate taxpayers, late fee on filing of GSTR-3B for Aug&Sept has been waived. Late fee paid will be credited back to taxpayer ledger.- Arun Jaitley (@arunjaitley) October 24, 2017Earlier, The Ministry of Finance notified that there will be no further extension of the last date for filing GSTR-1 for the month of July 2017, urging the last-minute taxpayers to file their returns immediately."The last date for filing GSTR-1 for the month of July 2017 is October 10. An extension of two months has already been given. There will be no further extension given to taxpayers for filing their GSTR-1 return for July. Taxpayers who ..

GSTR-3B return is a self-assessment by businesses of their sale and purchases during the period concerned

Filing GSTR 3B is mandatory for GST registrants.