North Block which houses the Ministry of Finance. (Photographer: Prashanth Vishanathan/Bloomberg)

Finance Ministry Extends September GST Returns Deadline To October 25

The Finance Ministry has extended the deadline for filing summary sales return GSTR-3B for the month of September by five days to October 25.

With this extension, businesses which wish to claim the input tax credit benefit for the July 2017-March 2018 period can do so till October 25.

The Central Board of Indirect Taxes and Customs, under the Finance Ministry, said trade and industry had expressed apprehension relating to October 20 due date for claiming ITC under GST for July 2017-March 2018.

The GSTR-3B of a particular month has to be filed by the 20th day of the subsequent month. The deadline for September return filing was October 20.

Businesses had expressed concern about the October 20 deadline, saying there would be trouble in reconciling their sales returns with the purchase returns filed by their suppliers.

Since the ITC is availed on the basis of summary sales return or GSTR-3B filed, hence the deadline for ITC claims and GSTR-3B have been kept same.

The Goods and Services Tax was rolled out on July 1, 2017.

AMRG & Associates Partner Rajat Mohan said the date extension comes as a shock for compliant payers, whereas it would be a tax bonanza for late filers, non-filers and tax evaders.