GSTN issued Advisory for Timely Filing of GST Returns:

GSTN issued Advisory for Timely Filing of GST Returns

The Goods and Services Tax Network(GSTN) has issued advisory for Timely Filing of GST Returns.

GSTN Advisory

authorReetudateMay 5, 2023
Last update on May 5, 2023
GSTN issued Advisory for Timely Filing of GST Returns The Goods and Services Tax Network(GSTN) has issued advisory for Timely Filing of GST Returns. GSTN said" It has been noted that certain taxpayers had trouble filing GSTR-3B for the period of March 23 to April 20, 2023. After examining the causes, it was discovered that a significant number of taxpayers attempted to file GSTR-3B returns on the last day's afternoon (20.05 lakh GSTR-3B returns were submitted on that day). As a result, there was a wait list on the GST system, which annoyed some of the taxpayers." It was further added "On April 20th, 23', almost 45% of the returns submitted were either NIL returns (no tax liability and no ITC availment) or returns in which no tax was paid in cash. It's possible that these returns would have been filed sooner. Additionally, it is advised that taxpayers file NIL returns using the SMS filing option because it is a quicker and more convenient option, and it will help to decrease lines on the GST system. Taxpayers should submit Form GSTR-3B well in advance to reduce the last-minute rush." Further, it was advised "On the due date for filing, it has also been seen that some taxpayers are uploading numerous invoices from the previous period (up to 27 lakhs) into a single GSTR-1. The GST system's queue (waiting time) may be adversely affected if taxpayers report all of their B2B invoices for a given month at once. Instead, it is advised that they establish a monthly return filing routine for all of their B2B invoices." Thus, it can be seen that better return filing planning can help taxpayers avoid the challenges brought on by last-minute rushes, which would also benefit other taxpayers. It should be noted that the infrastructure of GSTN has greatly improved over time. Link of the Advisory

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Reetu

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Reetu is a Content Writer with 4+ years of experience in GST, Income Tax, Finance, Company Law, Education and Career Related Content. She is a B.COM (Honrs.) Graduate.
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