In a recent announcement, the Central Board of Indirect Taxes and Customs (CBIC) extended the deadlines for filing GSTR-1 and GSTR-3B returns due to significant technical glitches affecting the GST portal. This extension provides much-needed relief to monthly taxpayers and QRMP taxpayers facing difficulties in filing their returns within the stipulated time frame.
Extended Deadlines for Filing GSTR-1 and GSTR-3B Returns
- Monthly taxpayers now have until 13th January 2025 to file their GSTR-1 returns, which provide details of outward supplies of goods and services.
- QRMP taxpayers, who are on a Quarterly Return Monthly Payment (QRMP) scheme, now have until 15th January 2025 to file their GSTR-1 returns.
- The deadline for monthly taxpayers to file their GSTR-3B returns, which summarize the tax liability for the period, has also been extended to 22nd January 2025.
- For QRMP taxpayers, the deadline for filing GSTR-3B returns has been pushed to 24th or 26th January 2025, instead of the original deadline of 22nd or 24th January.
Official Statement from CBIC
The CBIC issued a statement confirming the extension, stating:
“In order to benefit taxpayers who could not file their returns in time due to technical glitches, the time limit for filing of FORM GSTR-1 for the tax period December 2024 has been extended till 13.01.2025. Additionally, the deadline for filing FORM GSTR-1 for QRMP taxpayers for the period from October 2024 to December 2024 has been extended until 15.01.2025.”
Technical Glitches and GST Portal Maintenance
Earlier in the day, the Goods and Services Tax Network (GSTN) acknowledged ongoing technical issues with the GST portal, leading to delays in filing. The portal was under maintenance, and an incident report was submitted to the CBIC for consideration of a filing date extension.
GSTN’s official message on social media stated:
“The GST portal is currently experiencing technical issues and is under maintenance. We expect the portal to be operational by 12:00 PM on 10th January 2025. CBIC is being sent an incident report to consider an extension in filing date. Thank you for your understanding and patience!”
GSTR-1 and Its Importance
Form GSTR-1 is a vital return that must be submitted by all normal registered taxpayers who are making outward supplies of goods or services. It contains details of the supplies made during a specific tax period.
GSTR-1 filing eligibility:
- All registered taxable persons (except input service distributors, composition taxpayers, and certain others) are required to file Form GSTR-1.
- Businesses with a turnover of up to ₹5 crore in the previous financial year or expected turnover during the current year may opt for quarterly filing of GSTR-1.
Also read: Common errors and mistakes in GSTR-1 filing
Delays in GSTR-1 Filing: Impact on Businesses
Failure to file GSTR-1 on time can lead to significant delays in the GSTR-2B generation. GSTR-2B is essential for claiming the Input Tax Credit (ITC), and delays in filing GSTR-1 can block buyers from claiming their GST credits. This disruption can force businesses to pay GST liabilities in cash, which can affect their cash flow and overall financial health.
Proactive Measures for GST Compliance
The ongoing GST portal glitches underline the importance of having contingency plans to ensure timely compliance with GST regulations. Businesses should consider alternate measures to ensure they meet the filing deadlines and avoid penalties.
Key Takeaways:
- Monthly taxpayers: File GSTR-1 by 13th January 2025 and GSTR-3B by 22nd January 2025.
- QRMP taxpayers: File GSTR-1 by 15th January 2025 and GSTR-3B by 24th or 26th January 2025.
- GSTR-1 filing is critical for businesses to avoid disruption in ITC claims and ensure smooth cash flow.
- Stay updated with the GST portal for further announcements regarding technical issues and filing extensions.
For businesses relying on timely GST return filing, this extension serves as a crucial opportunity to avoid penalties and ensure smooth compliance. Stay informed and ensure that you complete all necessary filings within the newly extended deadlines to avoid any future issues.
