GSTR-3B Filing Due Date upto 28 /07/2017

CBEC Extends GSTR-3B Filing Due Date upto 28 /07/2017

As per CGST Rules 2017, GST for July 2017 has to be paid by 20 August, 2017, after which the summary GST return GSTR-3B can be filed. However, in view of non-provision of TRANS-I on GST Portal, CBEC has extended due date for filing of GSTR-3B upto 28 Aug. 2017 (along with TRANS-I), in the cases where Transitional ITC claims are applicable, whereas net taxes are to be paid by 20 Aug. 2017 only.

Concerns have been raised by the taxpayers that the form for claiming transitional input tax credit (TRANS-I) has not been made available on the GSTN website/ GST Portal. Therefore the CBEC has clarified that the form TRANS-1 will be available on the GSTN website from 21 August, 2017.

In view of this, a small relaxation has given by CBEC to all the taxpayers who want to avail transitional input tax credit. On the other side taxpayers those who do not want to claim any transitional input tax credit have to necessarily pay the tax and file return in Form GSTR-3B before the said due date (i.e. 20 August, 2017).

The taxpayers who want to avail the transitional input tax credit should also calculate their tax liability after estimating the amount of transitional credit as per Form TRANS I. They have to make full settlement of the liability after adjusting the transitional input tax credit before 20 August, 2017. However, in such cases, they will get time upto 28 August, 2017 to submit Form TRANS I and Form GSTR-3B. In case of shortfall in the amount already paid vis-à-vis the amount payable on submission of Form GSTR-3B, the same will have to be paid with interest @ 18% for the period between 21 August,2017 till the payment of such differential amount.