GST returns to become time-barred after three years from early 2025

Quick Summary:

In an advisory, Goods and Services Tax Network (GSTN) said GST outward supply returns, besides returns related to payment of liability, annual returns and tax collected at source, will become time-barred after the expiry of a period of three years from the due date of furnishing the said return.

GST Network on Tuesday said beginning early next year, GST taxpayers will not be able to file monthly and annual GST returns after three years of the original filing due date.

AMRG & Associates Senior Partner Rajat Mohan said the recent GSTN update concerning the barring of GST return filings post a three-year deadline introduces a significant compliance shift.

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Article Details

Category: BusinessFinance

Markets: India

Topics: Taxation GST taxpayers GST GST Goods and Services Tax Network

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-29 @ 19:51:04 (2 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 352 words

Reading Time: 2 minutes read

Sentences: 9 lines

Sentence Length: 40 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 23328015

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