GST Compliance Update: New Dates for December 2024 GSTR-3B Filing
The deadline for submitting GSTR-3B has been extended to December 2024 by the Central Board of Indirect Taxes and Customs (CBIC). On January 10, 2025, the notification was released with the intention of giving taxpayers compliance relief. Depending on the taxpayer's primary location of business, the updated deadlines are separated into two groups. Businesses gain from this extension, which guarantees easier GST compliance and lessens system load.
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The deadline for submitting GSTR-3B reports for the month of December 2024 has been extended by the Central Board of Indirect Taxes and Customs (CBIC) by Notification No. 02/2025-Central Tax, dated 10 January 2025. This ruling guarantees easier compliance within the GST system and offers taxpayers much-needed relief.
Important Points of the Notice
1. The Extension's Legal Foundation
The notification makes use of the authority provided by Section 39(6) of the Central Goods and Services Tax (CGST) Act, 2017 in conjunction with Section 168, which permits the Commissioner to extend the deadline for filings upon the GST Council's proposal.
2. Usefulness
All registered individuals submitting GSTR-3B returns for December 2024 are eligible for this extension. As shown in the table below, the updated due dates are grouped according to the taxpayer's primary location of business.
Updated GSTR-3B Due Dates
| S. No. | Class of Registered Persons | Revised Due Date |
|---|---|---|
| 1 | Taxpayers whose principal place of business is in the following states and union territories: - Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, Daman and Diu, Dadra and Nagar Haveli, Puducherry, Andaman and Nicobar Islands, Lakshadweep |
24th January 2025 |
| 2 | Taxpayers whose principal place of business is in the following states and union territories: - Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand, Odisha, Jammu and Kashmir, Ladakh, Chandigarh, Delhi |
26th January 2025 |
Consequences of the Extension
- Compliance Relief for Businesses: Companies now have more time to appropriately claim the input tax credit (ITC), calculate their tax obligations, and reconcile their accounts.
- Decreased Penalties: Late fees and interest penalties can be avoided by filing taxes within the extended timeframe.
- Efficiency of the System: By spreading out the deadlines, the GST portal is less burdened and experiences fewer technological issues.
Important Taxpayer Notes
- Respect the Updated Deadlines: To avoid fines and interest, make sure you file on time by the relevant deadline.
- Make Use of the Extra Time: Examine all credit information and invoices to ensure that returns are accurate and to optimize ITC claims.
- Revise Accounting Systems: For smooth filing and reconciliation, companies must update their accounting software to reflect the updated dates.
Interest Charges and Late Fees
Even with the delay, not filing returns by the revised deadlines might result in:
- A maximum of ₹2,000 will be charged as a late fee of ₹50 per day (₹25 CGST + ₹25 SGST).
- Interest on overdue taxes is 18% per year.
In Conclusion
It is a good idea to extend the GSTR-3B filing deadlines until December 2024, particularly for companies who are having operational or technological difficulties. It is recommended that taxpayers take advantage of this chance to maintain compliance and guarantee proper filings. Visit myITRonline, your reliable tax compliance partner, for professional help with GST returns and other tax-related issues.
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Note-All the aforementioned information in the article is taken from authentic resources and has been published after moderation. Any change in the information other than fact must be believed as a human error. For queries mail us at marketing@myitronline.com
Krishna Gopal Varshney
An editor at apnokacaKrishna Gopal Varshney, Founder & CEO of Myitronline Global Services Private Limited at Delhi. A dedicated and tireless Expert Service Provider for the clients seeking tax filing assistance and all other essential requirements associated with Business/Professional establishment. Connect to us and let us give the Best Support to make you a Success. Visit our website for latest Business News and IT Updates.
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Krishna Gopal Varshney
An editor at Myitronline
Krishna Gopal Varshney, Founder & CEO of Myitronline Global Services Private Limited at Delhi. A dedicated and tireless Expert Service Provider for the clients seeking tax filing assistance and all other essential requirements associated with Business/Professional establishment. Connect to us and let us give the Best Support to make you a Success. Visit our website for latest Business News and IT Updates.
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