Let us have a bird’s eye view for the GST return preparation and due dates for the month of July 2017 and August 2017.
There have been widespread concerns over the smooth rollout of GST and there were some glaring concerns from trade and industry. These have led to a decision by the government that for the first two months of the GST implementation, GST would be payable basis a simple return form – Form GSTR-3B. This will contain a summary of outward and inward supplies and you need to submit this before 20th of the succeeding month.
The invoice-wise details in regular GSTRs would have to be filed for the months of July and August, 2017 as per the timelines given below:
|Month||GSTR 3B||GSTR 1||GSTR 2||GSTR 3|
|July, 2017||20th August 2017||1st to 5th September 2017||6th to 10th September 2017||11th to 15th September 2017|
|August, 2017||20th September 2017||16th to 20th September 2017||21st to 25th September 2017||26th to 30th September 2017|
It is pertinent to note for the taxpayers that though the simple form of return (Form 3B) has been prescribed by the Government for the month of July and August 2017, yet the taxpayer is also required to furnish the invoice wise details in GSTR 1, 2 and 3 for the said months on the extended due date as mentioned above.
The deadline for first GST Return, GSTR- 3B, has been extended to August 28 from its original deadline of August 20. However, one must keep in mind that this is only for taxpayers who opt to use the opening balance of pre-GST credit in the current month. Those who do not wish to claim opening credit in the current month or those who have no credit; the deadline continues to be August 20.