Last Chance to File GST Returns This Month
Reminder for Taxpayers
The Central Board of Indirect Taxes and Customs (CBIC) has issued a reminder to taxpayers that the last date to file Goods and Services Tax (GST) returns for the month of June 2023 is approaching.
Importance of timely filing
Timely filing of GST returns is crucial for businesses to avoid late fees and penalties. It also ensures smooth processing of Input Tax Credit (ITC) claims and prevents any disruption in business operations.
Key Dates and Deadlines
The following are the key dates and deadlines for GST return filing:
- Monthly GST return (GSTR-3B): Due by 20th of the subsequent month.
- Quarterly GST return (GSTR-1): Due by 13th of the month following the quarter end.
- Annual GST return (GSTR-9): Due by 31st December of the subsequent financial year.
Steps to File GST Returns
Taxpayers can file their GST returns online through the GST portal. Here are the steps involved:
- Visit the GST portal: www.gst.gov.in
- Log in using your credentials.
- Click on "Services" and select "Return Dashboard."
- Select the relevant return period and type.
- Fill in the required details and upload supporting documents.
- Validate and submit the return.
Consequences of Late Filing
Failure to file GST returns on time can lead to the following consequences:
- Late fees: A penalty of Rs. 100 per day is levied for each day of delay in filing GSTR-3B.
- Interest on late payment: Interest at the rate of 18% per annum is charged on any GST liability not paid by the due date.
- Suspension of GST registration: In severe cases, the GST registration of a taxpayer may be suspended for non-compliance.
Support and Assistance
Taxpayers who need assistance with GST return filing can contact the GST Helpdesk at 1800-107-0255. They can also access online support resources and FAQs on the GST portal.
Conclusion
Timely filing of GST returns is essential for businesses to stay compliant and avoid penalties. Taxpayers are urged to file their GST returns for June 2023 by the due date of 20th July 2023 to ensure smooth business operations.
