There are changes in the rules regarding GST returns from the beginning of next year. Under this, from the beginning of 2025, GST taxpayers will not be able to file monthly and annual GST returns after three years from the originally due date of filing returns. The Goods and Services Tax Network (GSTN) said this in an advisory on Tuesday. It said that apart from GST sales returns, the new rule will be applicable to returns related to payment of liability, annual returns and tax collection at source. That is, there will be a ban on filing the return after the expiry of the period of three years from the due date of filing the return.
File GST return soon
GSTN said that the said change is going to be implemented in the GST portal from the beginning of next year (2025). Therefore, taxpayers are advised to match their records and if they have not filed GST return yet, file it as soon as possible. Rajat Mohan, senior partner, AMRG & Associates, said that GSTN has made an important change regarding compliance. Under this change, there is a ban on filing GST returns after the three-year deadline.
He said the move is aimed at ensuring timely compliance, enhancing the reliability of data and potentially reducing the backlog of unfiled returns within the GST system. Limiting the period in case of late filing of returns has encouraged taxpayers to reconcile and correct their records.
Challenge for these taxpayers
Mohan said that however, it can also create challenges for those taxpayers who have not filed returns. Especially for those taxpayers who are facing administrative or logistical problems in consolidating old records. He said companies are advised to proactively audit their return filings and resolve outstanding returns, if any, within the remaining period.
