No Monthly, Annual GST Returns After 3 Years Of Original Filing Due Date, Starting 2025


Rohit Kulkarni

Rohit Kulkarni

Nov 03, 2024


As per the Goods and Services Tax Network (GSTN), beginning next year, GST taxpayers will not be able to file monthly and annual GST returns after three years of the original filing due date.

No Monthly, Annual GST Returns After 3 Years Of Original Filing Due Date, Starting 2025

GSTN Introduces Three-Year Deadline for Filing Returns

Besides returns related to payment of liability, Goods and Services Tax Network (GSTN) said GST outward supply returns, 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.

“The said changes are going to be implemented in the GST portal from early next year (2025). Hence, the taxpayers are advised to reconcile their records and file their GST returns as soon as possible if not filed till now,” GSTN said.

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

The Implications of GSTN’s New Three-Year Filing Deadline

Mohan said that “This move aligns with a broader intent to ensure timely compliance, enhance data reliability, and potentially reduce the backlog of unfiled returns within the GST system. By capping the period for delayed filings, taxpayers are motivated to reconcile and rectify their records promptly. However, it may also create challenges for taxpayers with historically unfiled returns, especially those facing administrative or logistical constraints in consolidating older records,” Mohan said.

It has been advised to the businesses to proactively audit their filing history as well as address any outstanding returns within the remaining window. He added that doing so shall prevent future compliance issues and penalties that may arise once the portal enforces this three-year limit.


Rohit Kulkarni
Rohit Kulkarni
  • 1114 Posts

Subscribe Now!

Get latest news and views related to startups, tech and business

You Might Also Like

Business
Dec. 8, 2022

Beat The Burden Of Medical Inflation With A Health Insurance

As disease rates rise and medical technology develops, treatment costs climb. It’s essential to understand that medical costs are not exclusively associated with hospitals. The cost of prescription drugs, diagnostic procedures, ambulance and operating room fees, consultations with doctors, and other costs are also constantly increasing. All of them could put a big strain on […]

Business
Dec. 8, 2022

3 Biggest Changes Of iOS 16.2 Update That Every iPhone User Should Know!

In its latest update Apple said that it is preparing for the iOS 16.2 update for iPhones across the world. Notably, like the previous release, there are a couple of changes coming for the iPhones.  iOS 16.2 Update Release Date So far, Apple has not announced a release date for iOS 16.2 update. Reportedly, the […]

Business
Dec. 8, 2022

300 Microsoft Employees Create Employee Union, First Time Ever: This Is How Microsoft Reacted

Around 300 workers at Microsoft Corp.’s ZeniMax Studios have commenced the process of forming a union which is said to be the first at the software giant in the US.  Here, Microsoft Corp.’s ZeniMax Studios known for popular video games including Skyrim and Fallout. Forming Union In Microsoft Corp Moreover, the quality assurance employees at […]

Business
Dec. 7, 2022

India Beats China In Air Travel Safety: Ranking Jumps From 102 To 48 In Global Aviation Safety

India’s air safety protocols and executions have improved drastically over the years, as validated by the findings of a specialized agency of the United Nations, the International Civil Aviation Organization or ICAO. The UN watchdog has upgraded India’s ranking in terms of aviation safety to the 48th position, jumping past the rankings of countries like […]

Recent Posts

Related Videos

   

Subscribe Now!

Get latest news and views related to startups, tech and business

who's online