The Union Ministry of Finance on Sunday extended the deadline for filing summary sales return GSTR-3B for September by five days to October 25.
This extension will prove to be beneficial for the businesses which desire to claim Input Tax Credit (ITC) benefit for July 2017-March 2018 period. They can now do so till October 25. The Central Board of Indirect Taxes and Customs (CBIC) said trade and industry had expressed hesitation pertaining to October 20 due date for claiming ITC under GST for July 2017-March 2018.
“With a view to giving some more time for the same, the last date for furnishing GSTR-3B for the month of September 2018 is being extended up to 25th October, 2018,” the CBIC tweeted.
As per the rules, the GSTR-3B of a particular month is mandated to be filed by the 20th day of the subsequent month. The previous deadline for September return filing was October 20.
Expressing their concern over the October 20 deadline, businesses had said that there would be trouble in integration of their sales returns with the purchase returns filed by their suppliers.
Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔ www.eletsonline.com/subscription/