GSTN additional stated that taxpayers with ‘Nil’ returns can file them earlier and never await the final day to file GSTR-3B.
GST Returns: Around 45 per cent of the returns filed on April 20 have been both NIL returns (no tax legal responsibility and no ITC availment) or have been such returns the place no tax was paid in money
Do you file GST returns? If sure, then the GST Network has issued an advisory for you. It stated taxpayers to plan return submitting and bill importing higher and keep away from the last-minute rush, which ends up in the clogging of GST techniques. It additionally stated that 20.05 lakh GSTR-3B returns have been filed on April 20 — the final day for submitting tax returns for gross sales in March, leading to a ready queue on the GST system and inflicting inconvenience to among the taxpayers.
Around 45 per cent of the returns filed on April 20 have been both NIL returns (no tax legal responsibility and no ITC availment) or have been such returns the place no tax was paid in money. It additionally highlighted that some taxpayers are importing numerous invoices (as much as 27 lakhs) of the previous interval in a single GSTR-1 on the due date of submitting.
“Taxpayers are suggested to inculcate a month-wise return submitting self-discipline for all of the B2B invoices for the month and keep away from reporting invoices of the previous interval in a single go, as such behaviour can adversely impression the queue (ready time) on the GST system,” GSTN stated in an advisory to taxpayers.
Goods and Services Tax Network (GSTN) manages the technology backend of the indirect tax regime, which was launched on July 1, 2017. Currently, there are over 1.39 crore taxpayers registered under GST.
GSTN said it has upgraded its infrastructure over a period of time. However, it has been observed that some taxpayers faced difficulty in filing GSTR-3B for March on April 20, 2023.
“On analysing the reasons, it was noted that a large number of taxpayers attempted to file GSTR-3B returns in the afternoon of the last day,” it stated.
GSTN additional stated that taxpayers with ‘Nil’ returns can file them earlier and never await the final day to file GSTR-3B.
It additionally instructed that taxpayers could use the SMS submitting choice to file NIL returns as it might be faster and a extra handy solution to file NIL returns and also will assist to cut back the queue on the GST system.
“It can thus be seen that with higher planning of return submitting, the issue confronted by the taxpayers as a consequence of final minute rush may be prevented and it might be of assist to fellow taxpayers as nicely… Taxpayers are subsequently suggested to file their Form GSTR- 3B nicely prematurely to keep away from final day rush,” it said.
(With Inputs from PTI)
Read all of the Latest Business News, Tax News and Stock Market Updates right here
