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Status of August GST Filing

The due date for filing GSTR-3B return for the month of August 2017 ended on 20th September 2017. Over 22 lakh taxpayers filed GSTR-3B returns until 6 P.M. and the GST Council expects more filings until midnight. The GST Chairman said that over 80,000 GSTR-3B returns were filed by taxpayers every hour and that the GSTN network was functioning smoothly as returns were being filed by various taxpayers.

Filing Tax Return in Advance

Officials from GSTN noted that till September 16th, only 3.5 lakh taxpayers filed GST returns. However, the number of return filing spiked to 22 lakhs in just 4 days. Hence, most taxpayers were waiting until the last minute for filing GSTR-3B returns leading to a slowdown in the GST Portal and filing system. If taxpayers can begin filing GSTR 3B return in advance before the last few days, then delays and errors can be prevented in the filing.

Status of July GST Filing

Out of the total entities registered for GST, over 47 lakh returns have been filed for July. The due date for filing of GSTR-3B return for July was earlier extended from 20th August to 25th August. However, no such extension has been provided by the GSTN for filing of August GSTR-3B return.

Next Due Date for GST Filing

With the due date for August GSTR 3B return ending on September 20th, the next GST return due will be GSTR-1 for the month of July on October 10th. The Government has streamlined GSTR-1 return filing and GST invoice uploading already. Hence, its best for taxpayers to being filing GSTR-1 return for the month of July now to prevent last-minute rush.

GSTR-1 Return – Due on 10th of Every Month

Form GSTR-1 or return of outward supplies is normally due on the 10th of every month. For the month of July 2017, GSTR 1 is due on the 10th of October. The GST Council shall announce the due date for GSTR 1 for all other months shortly.

In GSTR 1 return, the taxpayer should provide the details of Invoices, debit notes, credit notes and revised invoices issued in relation to outward supplies made during the tax period. The taxpayer can file this e-return online on the GST portal or using LEDGERS GST Software within 10 days from the end of the tax period. However, the registered person may not be allowed to furnish any details of outward supplies during the period from the eleventh day to the fifteenth day of the month succeeding the tax period. Content of GSTR-01 (a) GSTN, Name & Period (b) Aggregate turnover in previous FY (c) Invoice/ consolidated level details of outward supply Supply to RD: Invoice Level Supply to URD

In GSTR 1 return, the taxpayer shall upload the details of all invoices on B2B or B2C large to the GSTN. Know more about the procedure for uploading invoices to GSTN.

The details of FORM GSTR-1 furnished by the supplier will be made available to the recipients in PART-A of FORM GSTR-2A, Form GSTR 4A and in Form GSTR-6A.

File your GST Return through IndiaFilings

You can file your GSTR-3B, GSTR-1 and GSTR-2 return using LEDGERS GST Software from IndiaFilings. In case you have questions about filing GST Returns, visit IndiaFilings.com.