What is Due Date Extension ?
The due date for GSTR 2 return for the month of July 2017 has been extended today till 30th November 2017. The due date for filing GSTR 3 return of July 2017 has also been extended until 11th December 2017. The announcement was recently made by the Hon’ble Finance Minister on 30th October 2017. The extension will ease the compliance burden for millions of small businesses across the country.
GSTR-2, or purchase returns, have to be matched with GSTR-1 which is the sales return. The last date for filing of GSTR-1 for July was 1 October. Over 46.54 lakh businesses had filed July GSTR-1 returns. The extension will facilitate about 3.081 million taxpayers for filing GSTR-2 for the month of July 2017, the finance ministry said in a statement. “The competent authority has approved the extension of filing of GSTR-2 for July, 2017 to November, 2017, for facilitation of businesses and all taxpayers,” it said.
Businesses have been complaining of problems in matching invoices, while filing GSTR-2 on the GSTN portal. This is the first month of filing GSTR-2. The extension of last date for filing will act as a breather for them as well as GSTN which can further streamline the utilities on the portal. The group of ministers under Bihar deputy chief minister Sushil Kumar Modi had last week flagged issues faced by taxpayers in filing GSTR-2 and asked Infosys and GST Network to streamline the system. Till Saturday, about 1.2 million businesses had filed GSTR-2 returns for the month of July.
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Schedule for Due Date Extension
GSTR1 or return of outward supplies must be filed by all taxpayers having regular GST registration. The due date for filing GSTR1 return is the 10th of every month. For July, September and October, the GST return due dates are different from the normal schedule.
GSTR2 or return of inward supplies must be filed by all taxpayers having regular GST registration. The due date for filing GSTR 2 return is the 15th of every month. For July, September and October, GSTR2 return due dates are different from the normal schedule.
GSTR3 or monthly GST return must be filed by a taxpayer after filing GSTR1 and GSTR2 return. GSTR3 is due on the 20th of every month. For July, September and October, GSTR2 return due dates are different from the normal schedule.
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