GSTN Issues Crucial Advisory on Barring GST Returns After Three-Year Expiry

📅 Date: October 29, 2024
📂 Categories: GST Portal Updates | Important News
⌛ Read Time: 4 Min

The Goods and Services Tax Network (GSTN) has released Advisory No. 540 regarding the barring of GST returns after a three-year expiry period. This advisory, effective early 2025, follows the Finance Act, 2023 (8 of 2023) and applies to key sections under the GST law, ensuring timely compliance.

Key Points in the Advisory:

Three-Year Limitation: After three years from the due date, taxpayers cannot file returns for Section 37 (Outward Supply), Section 39 (Payment of Liability), Section 44 (Annual Return), and Section 52 (Tax Collected at Source). This covers GSTR-1, GSTR-3B, GSTR-4, GSTR-5, GSTR-5A, GSTR-6, GSTR-7, GSTR-8, and GSTR-9.

Implementation Date: Set for early 2025, taxpayers are advised to reconcile and file overdue GST returns promptly.

Act now to avoid non-compliance and ensure your GST returns are filed on time.

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