For example, the taxable period ending 31 May is due 28 June. There are 2 exceptions to this date: Taxable period ending 31 March is due 7 May. Taxable period ending 30 November is due 15 January. We may charge late filing and payment penalties. Make a payment Penalties and debt. Tasks File your GST return. Moving between Inland Revenue sites. Continue to old site. Last updated: 23 Jun We're taking you to our old site, where the page you asked for still lives.
Toggle mobile nav. News and events Media releases Updates Newsletters and bulletins Seminars. Tax Technical. Tax Policy. About us. Contact us Contact us Media queries. Your GST return and payment is due for the taxable period ending 31 October.
JAN Your GST return and payment is due for the taxable period ending 30 November. Your GST return and payment is due for the taxable period ending 31 December. All GST dates.
You must file a GST return for every taxable period, even if it is nil. You cannot get an extension of time to file a GST return so you must file it on time.
Tax compliance is also better as taxpayers are not bogged down with multiple return forms and deadlines. Some taxes were governed by the states and some by the Centre. There was no unified and centralised tax on both goods and services. Hence, GST was introduced. Under GST, all the major indirect taxes were subsumed into one. It has greatly reduced the compliance burden on taxpayers and eased tax administration for the government.
One of the primary objectives of GST was to remove the cascading effect of taxes. Previously, due to different indirect tax laws, taxpayers could not set off the tax credits of one tax against the other. For example, the excise duties paid during manufacture could not be set off against the VAT payable during the sale. This led to a cascading effect of taxes. Under GST, the tax levy is only on the net value added at each stage of the supply chain.
This has helped eliminate the cascading effect of taxes and contributed to the seamless flow of input tax credits across both goods and services. GST laws in India are far more stringent compared to any of the erstwhile indirect tax laws. Under GST, taxpayers can claim an input tax credit only on invoices uploaded by their respective suppliers.
This way, the chances of claiming input tax credits on fake invoices are minimal. The introduction of e-invoicing has further reinforced this objective. Also, due to GST being a nationwide tax and having a centralised surveillance system, the clampdown on defaulters is quicker and far more efficient.
Hence, GST has curbed tax evasion and minimised tax fraud from taking place to a large extent. GST has helped in widening the tax base in India. Previously, each of the tax laws had a different threshold limit for registration based on turnover. As GST is a consolidated tax levied on both goods and services both, it has increased tax-registered businesses. Besides, the stricter laws surrounding input tax credits have helped bring certain unorganised sectors under the tax net.
For example, the construction industry in India. Previously, taxpayers faced a lot of hardships dealing with different tax authorities under each tax law. Besides, while return filing was online, most of the assessment and refund procedures took place offline.
Now, GST procedures are carried out almost entirely online. Everything is done with a click of a button, from registration to return filing to refunds to e-way bill generation. It has contributed to the overall ease of doing business in India and simplified taxpayer compliance to a massive extent. The government also plans to introduce a centralised portal soon for all indirect tax compliance such as e-invoicing, e-way bills and GST return filing.
A single indirect tax system reduces the need for multiple documentation for the supply of goods. GST minimises transportation cycle times, improves supply chain and turnaround time, and leads to warehouse consolidation, among other benefits.
With the e-way bill system under GST, the removal of interstate checkpoints is most beneficial to the sector in improving transit and destination efficiency. Ultimately, it helps in cutting down the high logistics and warehousing costs. Introducing GST has also led to an increase in consumption and indirect tax revenues. Due to the cascading effect of taxes under the previous regime, the prices of goods in India were higher than in global markets. Even between states, the lower VAT rates in certain states led to an imbalance of purchases in these states.
Having uniform GST rates have contributed to overall competitive pricing across India and on the global front. This has hence increased consumption and led to higher revenues, which has been another important objective achieved. GST has mainly removed the cascading effect on the sale of goods and services. Removal of the cascading effect has impacted the cost of goods.
Since the GST regime eliminates the tax on tax, the cost of goods decreases. Also, GST is mainly technologically driven.
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