New Delhi : There will be changes in many rules regarding GST in the coming few years. This news has come to light in an information related to GSTN. Under which it has been said that from the beginning of the year 2025, GST taxpayers will not be able to file monthly and yearly GST returns after 3 years from the date of filing the return.
Goods and Services Tax Network (GSTN) said this in an advisory on Tuesday. It said that apart from GST sales return, the new rule will be applicable on returns related to payment of liability, annual return and tax collection at sources. That is, there will be a ban on filing returns after the expiry of 3 years from the due date of filing returns.
Rules will change from next year
GSTN has said that the above change is going to be implemented in the GST portal from the beginning of next year i.e. 2025. Therefore, taxpayers are advised to match their records and file GST returns if they have not yet filed them as soon as possible.
to match records
Rajat Mohan, senior partner, AMRG & Associates, said GSTN has made a significant change regarding compliance. Under this change, there is a ban on filing GST returns after the deadline of 3 years. He said that this step is aimed at ensuring timely compliance, increasing the reliability of data and potentially reducing the 'backlog' of unfiled returns within the GST system. Limiting the period in case of late filing of returns has motivated taxpayers to match and correct their records.
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return not filed
Mohan said that, however, it could also create challenges for taxpayers who have not filed returns. Especially for those taxpayers who are facing administrative or logistical problems in consolidating old records. He said companies are advised to proactively audit their return filings and resolve outstanding returns, if any, within the remaining period.
(with agency input)
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