The deadline for filing GSTR-3B has been extended up to August 28th. However, this extension of can only be availed by those people who in the current month wish to use the opening balance of the pre-GST credit. Thus, this extension of the deadline is not applicable to those people who do not have any credit or do not wish to use the opening credit in the current month and they will have to file their GST returns by August 20th only.
To facilitate things for the citizens, the Government earlier had postponed the procedural GST Returns Filing for the first 2 months after the implementation of GST i.e. July and August, however, returns for these 2 months are required to be filed in a simple format in Form GSTR 3B. The deadline for the same was fixed at August 20th.
As per law, the opening credit can be claimed by filing the form TRAN 1, which has to be filed by anyone availing the extended deadline of August 28th. However, no instructions and clarifications have been notified in respect of the excess credit claims and also the reporting requirements for the same form are complicated thus it’s expected that tax payers would avoid filing this TRAN 1 form despite the 8-day extension.
But, TRAN 1 system hasn’t been activated on the GST portal and unless that’s done, the TRAN 1 can’t be filed thus making it impossible to take the benefit of opening credit and this has resulted in the adverse cash flow for the month of July 2017.
By extending the deadline up to August 28th, the Government has also bought time to work on the TRAN 1 filing system on the GST portal. TRAN 1 forms will be available August 21st onwards.
To facilitate things for the citizens, the Government earlier had postponed the procedural GST Returns Filing for the first 2 months after the implementation of GST i.e. July and August, however, returns for these 2 months are required to be filed in a simple format in Form GSTR 3B. The deadline for the same was fixed at August 20th.
As per law, the opening credit can be claimed by filing the form TRAN 1, which has to be filed by anyone availing the extended deadline of August 28th. However, no instructions and clarifications have been notified in respect of the excess credit claims and also the reporting requirements for the same form are complicated thus it’s expected that tax payers would avoid filing this TRAN 1 form despite the 8-day extension.
But, TRAN 1 system hasn’t been activated on the GST portal and unless that’s done, the TRAN 1 can’t be filed thus making it impossible to take the benefit of opening credit and this has resulted in the adverse cash flow for the month of July 2017.
By extending the deadline up to August 28th, the Government has also bought time to work on the TRAN 1 filing system on the GST portal. TRAN 1 forms will be available August 21st onwards.
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