GSTR-2 is the most important return for GST compliance since the availability of input tax credit depends on it
The government on Monday once again extended the deadline for filing the goods and services tax (GST) returns for purchases and input-output transactions for July.
The last date for filing purchase return, or GSTR-2 Deadline extended to November 30, from October 31. That of input-output transactions, or GSTR-3, was put off to December 11, from November 10.
“To facilitate trade, the last date for filing GSTR-2 and GSTR-3 for July 2017 has been extended to November 30 and December 11, respectively,” a government tweet said.
Archit Gupta, chief executive officer, ClearTax, said, “The earlier last date for filing GSTR-2 coincided with the deadline for submission of audited income tax returns and as such was putting a strain on some taxpayers.”
GSTR-2 is the most important return for GST compliance since the availability of input tax credit depends on it.
ALSO READ :Deadline To File GSTR-2, GSTR-3 For July Extended
M S Mani of Deloitte said that the extension will enable many more taxpayers to file returns. “The challenges faced by some of the taxpayers in dealing with mismatches in GSTR-2 would hopefully get resolved in November,” he added.
The GST Council had, in its meeting in September, extended the deadline for filing GST returns by a month, amid technical glitches faced by assessees on the GST Network (GSTN) portal. The extension of deadline will give more time to taxpayers to file input tax credits, take remedial action for mismatches, and enable accurate filing.
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