It is rumored after the latest meeting of GST council held on 9 March that the GST return filing date may get extended till June of this year. The Council, chaired by Finance Minister Arun Jaitley and comprising his state counterparts, is also expected to finalize a simplified return filing procedure for businesses registered under Goods and Services Tax (GST) regime.Simplified sales return GSTR-3B was introduced in July, the month of GST roll out, to help businesses to file returns easily in the initial months of GST roll out. This was to be followed with filing of final returns — GSTR – 1, 2 and 3.
With businesses complaining of difficulty in invoice matching while filing final returns as well as complications in GSTN systems, the GST Council in November last year extended GSTR-3B filing requirement till end of March, 2018, and did away with filing of purchase return GSTR-2 and final return 3.The last date for filing initial GSTR-3B returns for a month is the 20th of the subsequent month.
The GST Council had in January entrusted Bihar Deputy Chief Minister Sushil Kumar Modi led GoM to work out a simplified return filing process so that businesses can fill up only a single form to file returns under GST. The group of ministers met last month to work out a simplified return form, but the meeting remained inconclusive. In the Group of Ministers meet, the Centre and state officials presented their model for return simplification, while Nandan Nilekani also made his presentation. The idea is GST return form should be simplified, it should ideally be one return every month, Modi had said.
About 8 crore GST returns have been filed so far on GST Network portal since implementation of GST on July 1. For no hassle in filing GST return or anything related to GST, you can contact a reliable and trusted tax services company that could help you in all desires of yours related to your business and GST return.