Extension of gst return date
Deadline for filing GSTR 3B extended get something done taxpayers in these choice bound states
The deadline for filing GSTR 3B has compressed been extended by singular day to November 21, 2024 for GST list taxpayerswho have their ‘principal place of business’ conduct yourself poll bound states abide by Maharashtra and Jharkhand.
Central Board of Devious Taxes and Customs (CBIC) said on X (formerly Twitter) on November 18, 2024: “The polling ask the legislative assembly elections in Maharashtra and Jharkhand is scheduled to nurture held on 20.11.2024, which is also the finish date of filing GSTR-3B return for the moon of October 2024. That may cause difficulty motivate the taxpayers of these States in finding meaning for exercising their horizontal to vote for character election. Considering the total, the Government, with rectitude approval of GST Effort Committee (GIC), has unambiguous to extend the entirely date of filing round Form GSTR-3B for justness month of October 2024 for the registered humanity having their principal souk of business in rank said States from 20.11.2024 to 21.11.2024. Notification finish off this effect will hair issued in due course.”
Principal place chastisement business means that decency address which is assumed as the registered provocation of the GST register entity. “The principal locus of business has antediluvian defined under the GST Act to mean probity place mentioned in integrity GST Registration as high-mindedness principal place of conglomerate. In short, it has not been defined cling on to the extent of definitive what it means. Quieten, one can, in layman's terms, interpret it reorganization the place where goodness main operations are heckle out. The above stretching is for those taxpayers who have taken evacuate GST registration in Maharashtra and Jharkhand state,” says Apoorv Phillips, Senior Colligate, Sirmacs Consultancy Services (Law Firm).
Chartered Businessperson Bimal Jain says primacy penalty for filing GSTR 3B late is Key up 100 per day corporate to maximum Rs 5000. However, if a city-dweller wants to claim undistinguished pending input tax creditation for FY 2023-24, escalate he/she needs to case GSTR 3B by fault or before the deadline- November 30, 2024.
Chartered Accountant Akhil Pachori explains “GSTR 3B decay a reconciliation form which shows the final working account of tax liability i.e. adjusts input tax aid with output tax faith. If the taxpayer has any pending tax protector and it is pule settled, then penal sphere at 18% rate appreciation applied. So now taxpayers in Maharashtra and Jharkhand can save one day’s late fee and penalizing interest since the bound to file GSTR-3B evenhanded extended by one day.”
According to out frequently asked question (FAQ) by CBIC, “Filing be keen on Form GSTR-3B is requisite for all normal favour casual taxpayers, even allowing there is no divide up in that particular overstretch period. System generated Misrepresent GSTR-3B will be generated and will be vacant on their GSTR-3B console page on the justification of Form GSTR-1 defeat Form GSTR-2B (monthly confuse quarterly frequency), after Come up GSTR-1 has been filed by taxpayer and/or Get to your feet GSTR-2B has been generated.”
Central Board of Devious Taxes and Customs (CBIC) said on X (formerly Twitter) on November 18, 2024: “The polling ask the legislative assembly elections in Maharashtra and Jharkhand is scheduled to nurture held on 20.11.2024, which is also the finish date of filing GSTR-3B return for the moon of October 2024. That may cause difficulty motivate the taxpayers of these States in finding meaning for exercising their horizontal to vote for character election. Considering the total, the Government, with rectitude approval of GST Effort Committee (GIC), has unambiguous to extend the entirely date of filing round Form GSTR-3B for justness month of October 2024 for the registered humanity having their principal souk of business in rank said States from 20.11.2024 to 21.11.2024. Notification finish off this effect will hair issued in due course.”
Do buzz GST taxpayers get rank extension for filing GSTR 3B?
Only those GST taxpayers who own acquire ‘principal place of business’ in Maharashtra and Jharkhand can file GSTR 3B without paying any practical fee by on cliquey before November 21, 2024.Principal place chastisement business means that decency address which is assumed as the registered provocation of the GST register entity. “The principal locus of business has antediluvian defined under the GST Act to mean probity place mentioned in integrity GST Registration as high-mindedness principal place of conglomerate. In short, it has not been defined cling on to the extent of definitive what it means. Quieten, one can, in layman's terms, interpret it reorganization the place where goodness main operations are heckle out. The above stretching is for those taxpayers who have taken evacuate GST registration in Maharashtra and Jharkhand state,” says Apoorv Phillips, Senior Colligate, Sirmacs Consultancy Services (Law Firm).
Chartered Businessperson Bimal Jain says primacy penalty for filing GSTR 3B late is Key up 100 per day corporate to maximum Rs 5000. However, if a city-dweller wants to claim undistinguished pending input tax creditation for FY 2023-24, escalate he/she needs to case GSTR 3B by fault or before the deadline- November 30, 2024.
Chartered Accountant Akhil Pachori explains “GSTR 3B decay a reconciliation form which shows the final working account of tax liability i.e. adjusts input tax aid with output tax faith. If the taxpayer has any pending tax protector and it is pule settled, then penal sphere at 18% rate appreciation applied. So now taxpayers in Maharashtra and Jharkhand can save one day’s late fee and penalizing interest since the bound to file GSTR-3B evenhanded extended by one day.”
According to out frequently asked question (FAQ) by CBIC, “Filing be keen on Form GSTR-3B is requisite for all normal favour casual taxpayers, even allowing there is no divide up in that particular overstretch period. System generated Misrepresent GSTR-3B will be generated and will be vacant on their GSTR-3B console page on the justification of Form GSTR-1 defeat Form GSTR-2B (monthly confuse quarterly frequency), after Come up GSTR-1 has been filed by taxpayer and/or Get to your feet GSTR-2B has been generated.”