Relaxation in return filing procedure for first two months of GST implementation

Relaxation in return filing procedure for first two months of GST implementation. No late fees and penalty would be levied for the interim period.

It seems that rolling out of GST from 1st July, 2017 has become a prestige issue for the Government.

with so many issues that are still to be worked out, Govt. and its servants are repetedly giving statements to this effect.

However, the fresh decisions of the GST Council has exposed the practical problems that lie ahead.

All that can be hoped is that Govt. instead of making it a pretige issue shall focus on a smooth roll out and not anyhow roll out.

Ministry of Finance

Press Release

18th June, 2017

Relaxation in return filing procedure for first two months of GST implementation

With the objective of ensuring smooth rollout of GST and taking into account the concerns expressed by the trade and industry regarding filing of the returns in GST regime, it has been decided that, for the first two months of GST implementation, the tax would be payable based on a simple return (Form GSTR-3B) containing summary of outward and inward supplies which will be submitted before 20^th of the succeeding month.

However, the invoice-wise details in regular GSTR – 1 would have to be filed for the month of July and August, 2017 as per the timelines given below –

* Facility for uploading of outward supplies for July, 2017 will be available from 15^th July, 2017.

No late fees and penalty would be levied for the interim period. This is intended to provide a sense of comfort to the taxpayers and give them an elbow room to attune themselves with the requirements of the changed system. This not only underlines the government’s commitment towards ensuring that all the stakeholders are on board but also provides an opportunity to the taxpayers to be ready for this historic reform.

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DSM/SBS
(Release ID :165735)