News about New GST User for the next 2 Months
GST invoicing and Filing of Returns
The GST Council has relaxed filing rules for the first two months’ post implementation. Here’s how to file your returns for these months using form GSTR-3B.
The recently concluded meeting of the GST Council on June 18th brought some good news to business owners. The Council has agreed to relax the return filing requirement for the first two months under the new GST regime. As per the provisions of GST law, a normal taxpayer is required to file GSTR-1 by the 10th of the next month. Similarly, GSTR-2 and GSTR-3 are required to be furnished by the 15th and 20th of the next month respectively.
However, in order to address the concerns of small taxpayers who are still maintaining manual records, the GST Council has now proposed a relaxation in return filing for the month of July and August. September onwards, every taxpayer has to strictly follow the regular provisions of filing return on 10th, 15th and 20th of next month i.e. October. Also, there will be no late fee or penalty levied for the initial two months.