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Monday, 19 June, 2017, 12 : 00 PM [IST]

GST Council relaxes filing deadline for first 2 months

As per a TOI report, the GST Council on Sunday rejected demands for postponing GST (Goods and Services Tax) roll out but eased the filing deadlines for the first two months to help businesses prepare better. The government said a new form (GSTR-3B) will be available for the first two months, which will enable businesses to file returns and pay taxes. They will then get an additional 25 days to complete the online filing requirement for July. For August, they will get an additional 10 days. If there are gaps between the new form and final filing (GSTR-3), additional tax will be collected.

"Registration is going on fairly satisfactorily. As of today, 65.6 lakh, which is 81.1% of all registered businesses, have taken provisional registration for GST+ ... when thousands and lakhs register, they don't make a complaint. When five people register, they go through the Twitter," Arun Jaitley, Minister for Finance, Government of India said.

Fresh registration is scheduled to commence from June 25 and Hasmukh Adhia, Revenue Secretary suggested that businesses should not rush as 30 days will be given to register. Similarly, for those with provisional IDs, there was no need to rush as they will have three months, he added.

With consensus still to emerge, the Council also postponed a decision on transition to E-way bills. (Source: TOI)

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