Businesses Can Start Filing July Returns On GSTN From August 5
The first tax returns under the new Goods and Services Tax regime can be filed from Saturday and the facility will remain open till August 20, GST Network Chairman Navin Kumar said on Thursday.
Businesses can start filing their first GST returns and pay taxes for July on the portal of GST Network – the IT infrastructure provider for the new indirect tax regime, beginning August 5, he told PTI.
To make compliance easy for businesses, the GST Council has allowed businesses to initially file their returns on self-assessment basis in the first two months of the GST rollout. So, the GST returns for July and August will be filed on the Goods and Services Tax Network portal by filling up the GSTR 3B form.
We will start the facility of filing interim return form GSTR 3B by August 5 and any registered entity who has transacted business in July will have to file the return by August 20.Navin Kumar, Chairman, GST Network
GSTN has tied up with 25 agency banks authorized by the RBI to collect taxes, he said.
"We have tied up with all major banks, both private and public. The facility for tax payment is already on and Integrated GST is being collected. Along with filing of returns by August 20, payments for central and state GST will also come in," said Kumar, in-charge of the biggest technology backbone created for the new indirect tax regime.
Over 71.30 lakh excise, service tax and VAT payers have migrated to the GSTN portal with 13 lakh fresh registrations. The final GST returns for July will have to be filed by these businesses by September 5 instead ofAugust 10.
Companies will have to file sale invoice for August with GST Network by September 20 instead of September 10 earlier.
The sales returns for September will have to be filed by October 10.
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
-
Medicine Pricing: Where Must Profit Stop?
India must confront excessive margins, hidden incentives and regulatory gaps that threaten the integrity of medicine.
-
Why Amazon And Flipkart Are Struggling To Beat Meesho In India's Smaller Cities
With 274 million users and lowest-cost logistics, Meesho is defending its value commerce crown against giants like Amazon and Flipkart.
-
High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
The suspension of PERM processing at eight technology employers does not cancel existing H-1B visas. What it does is force a question many Indian families have been avoiding: is the US salary worth tying your career and family plans to one employer?
-
Swiggy vs Eternal: Food Delivery's Two Rivals Are No Longer In The Same Race
Eternal is building a private AI assistant, dark.ai. Swiggy is still working out how to make Instamart pay, with an operating loss of Rs 895 crore in the July-September quarter while Blinkit stayed profitable.
-
Where You Live Shapes How You Get To Work | The Reason Why
Two-wheelers are the most popular way to get to work in India, accounting for nearly 43% of workplace commutes.
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
