The Finance Ministry has extended the deadline for filing summary sales return GSTR-3B for September by five days to October 25. With this extension, businesses, which wish to claim input tax credit benefit for July 2017-March 2018 period, can do so till October 25.
The Central Board of Indirect Taxes and Customs (CBIC), under the Finance Ministry, said trade and industry had expressed apprehension over October 20 due date for claiming the input tax credit.
“With a view to give some more time for the same, the last date for furnishing GSTR-3B for the month of September, 2018 is being extended up to 25th October, 2018, the CBIC tweeted.
GSTR-3B for a particular month has to be filed by the 20th day of the subsequent month. The deadline for September return filing was October 20. Businesses had expressed concern over October 20 deadline, saying that there would be trouble in reconciling their sales returns with the purchase returns filed by their suppliers.
Since the input tax credit is availed on the basis of summary sales return or GSTR-3B filed, the deadline for ITC claims and GSTR-3B have been kept the same. Goods and Services Tax (GST) was rolled out on July 1, 2017.
AMRG & Associates Partner Rajat Mohan said extension of data comes as a shock for compliant payers, whereas it would be a tax bonanza for late filers, non-filers and tax evaders. “It seems that the government has given a date extension (after expiry) only for lifting public perception rather than creating conducive environment for businesses to nurture,” he said.