- Upcoming GST Return Filing Restriction: The Goods and Services Tax Network (GSTN) has announced that starting early 2025, the GST portal will restrict the filing of specific GST returns if more than three years have elapsed since their due date. This change, based on the Finance Act of 2023, will affect returns under Sections 37, 39, 44, and 52, covering GSTR-1, GSTR-3B, GSTR-4, GSTR-5, GSTR-5A, GSTR-6, GSTR-7, GSTR-8, and GSTR-9.
- Action Required by Taxpayers: Taxpayers are advised to review and reconcile their tax records and promptly file any outstanding GST returns to avoid being unable to submit them after the three-year period. The advisory aims to help taxpayers avoid issues such as GST tax demand notices and other compliance hassles.
- Consequences of Non-Compliance: Failing to file the required GST returns within the specified period will result in the taxpayer being considered a defaulter. The GST department may then conduct a best judgment assessment based on available information, potentially leading to tax demand notices and additional complications for the taxpayer.
Source A2ztaxcorp
