GST There are changes in the rules regarding returns from the beginning of next year. Under this, from the beginning of 2025, GST taxpayers will not be able to file monthly and annual GST returns after three years from the originally due date of filing returns. The Goods and Services Tax Network (GSTN) said this in an advisory on Tuesday. It said that apart from GST sales returns, the new rule will be applicable to returns relating to payment of dues, annual returns and tax collection at source. That is, there will be a ban on filing the return after the expiry of the period of three years from the due date of filing the return.
You will not be able to file returns after the 3 year limit
GSTN said, “The above change is going to be implemented in the GST portal from the beginning of next year (2025). Therefore, taxpayers are advised to reconcile their records and file GST returns if they have not yet filed them as soon as possible,” said Rajat Mohan, senior partner, AMRG & Associates. An important change has been made. Under this change, there is a ban on filing GST returns after the three-year deadline. “This move is aimed at ensuring timely compliance, enhancing the reliability of data and potentially reducing the 'backlog' of unfiled returns within the GST system,” he said. Limiting the period in case of late filing of returns has motivated the taxpayers to reconcile and correct their records.
These people will have problems
“However, it may also create challenges for taxpayers who have not filed returns,” Mohan said. Especially for those taxpayers who are facing administrative or logistical problems in consolidating old records.'' He said companies need to proactively audit their return filings and file any outstanding returns within the due period. , then it is advisable to resolve it.
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