Government notifies timeline for filing of tax returns under GST regime

The Centre on Wednesday notified the timeline for furnishing final tax returns for July and August under the Goods and Services Tax (GST) regime.

The GST Council, chaired by Finance Minister Arun Jaitley and comprising state counterparts, had in June allowed businesses extended the timeline for filing final GST returns in forms GSTR-1, GSTR-2 and GSTR-3 for July and August.

In the interim period, businesses will have to file GSTR-3B which is a summary of self-assessed tax liabilities with consolidated details of outward supplies and input credit.

Over 71.30 lakh excise, service tax and VAT payers have migrated to the GSTN portal and over 15 lakh new assessees have been registered on the platform.  GST, which has subsumed over 17 different levies, has kicked in from July 1, 2017.