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Date: 19/11/2024

GST returns to be time-barred from 2025

Beginning early next year, GST taxpayers will not be able to file monthly and annual GST returns after three years of the original filing due date, said the Goods and Services Tax Network (GSTN) in an advisory. It noted that GST outward supply returns, besides returns related to payment of liability, annual returns and tax collected at source, will become time-barred after the expiry of a period of three years from the due date of furnishing the said return. The said changes are going to be implemented in the GST portal from early next year (2025). Hence, taxpayers have been advised to reconcile their records and file their GST returns as soon as possible if not filed till now, GSTN said. Businesses need to proactively audit their filing history and address any outstanding returns within the remaining window, said a report.
 
Source: Exim News Service: New Delhi, Nov. 18 



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