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Aug 19, 2017
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Govt extends deadline for filing GST returns for some businesses
The government on Thursday extended the deadline for businesses to file their goods and services tax (GST) returns for July, the first month since implementation of the indirect tax, in cases where credit for taxes paid under the previous indirect tax system is being claimed.A statement issued by the Central Board of Excise and Customs (CBEC) said that the extension till 28 August applies only to filing of returns where credit is being claimed, and not for remitting the applicable tax amount for July, the deadline for which remains 20 August.Even those availing of the extended deadline for filing returns have to calculate their tax liability after adjusting for the applicable tax credit and make payment by 20 August. Any shortfall will attract 18% interest. For taxpayers, who do not want to claim credit for taxes paid under the previous regime to settle their GST liability, the deadline for filing returns remains 20 August, the statement said.
Source -
http://www.livemint.com
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