GSTR-3B is a monthly self-declaration that has to be filed by a registered dealer. It is a simplified summary return of inward and outward supplies and the purpose of the return is for taxpayers to declare their summary GST liabilities for the tax period and the discharge of these liabilities in a timely manner.
Every person who has registered for GST must file the return GSTR-3B including Nil returns.
Traders and Industrialists faced a lot of difficulties till now in filing the form GSTR 3B. Not only that but due to one filing date of GSTR 3B for all the taxpayers, the IT systems faced pressure during the filing date that was the 20th of every month.
Considering the difficulties and concerns expressed by the taxpayers regarding the same, The Finance Ministry on 22nd January 2020 said that now GST taxpayers can file their GSTR-3B returns in a staggered manner.
While till now the last date of filing GSTR-3B returns for every taxpayer was the 20th of every month, As per the new schedule, all businesses with 5 crore or more sales will continue to file returns related to supplies by the 20th day of every month while those with lesser sales will get time till the 22nd or the 24th day of the month depending on which state they are from.
Related Read: GST Return Filing in Simple Steps- Know How to File GSTR 1 & GSTR 3B
State | Turnover | Old due date | New due date |
All states | Above INR 5 crores and above for the previous financial year | 20th of next month | 20th of next month without late fees |
Chhattisgarh, Madhya Pradesh, Gujarat, Daman and Diu, Dadra and Nagar Haveli, Maharashtra, Karnataka, Goa, Lakshadweep, Kerala, Tamil Nadu, Puducherry, Andaman, and Nicobar Islands, Telangana, and Andhra Pradesh | below INR 5 crores and above for the previous financial year | 20th of next month | 22nd of next month without late fees |
Jammu and Kashmir, Ladakh, Himachal Pradesh, Punjab, Chandigarh, Uttarakhand, Haryana, Delhi, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand, and Odisha | below INR 5 crores and above for the previous financial year | 20th of next month | 24th of next month without late fees |
The staggered return filing solution was discussed with Infosys, the company that manages GST Network’s IT infrastructure, which has come out with the above solution to de-stress the process as a temporary but immediate measure. To further improve the performance of the GSTN filing portal on a permanent basis, several technological measures are being worked out with Infosys and will be in place by April 2020.
Critical steps Indian Entrepreneurs miss in US Company Registration Introduction Many Indian entrepreneurs want to grow their startups by starting…
Why Most Virtual CFO Services Fail Startups: A Checklist to Choose the Right One for Your BusinessIntroduction: The Virtual CFO…
Why Your Trademark Check Should Include AI-Generated Brand Names: The Next Big Blind Spot in Indian IP Filings Introduction: The…
MCA V3 Portal Update for FY 2024-25: New AOC-4 and MGT-7 Filing Requirements Explained Introduction For the financial year 2024-25,…
Hidden Costs of US Company Registration for Indians Introduction Many Indian business owners want to expand to the US for…
Post Incorporation Compliances immediately After Pvt Ltd Registration: Critical Steps Most Startups Skip Introduction Getting your Pvt Ltd company registered…
Leave a Comment