File GST returns for July by Tuesday, date will not be extended again, says Finance Ministry
Dated Delhi, October 10, 2017
“An extension of two months has already been given [for filing returns]. There will be no further extension given to taxpayers for filing their return for July,” the Finance Ministry said in a statement. “Taxpayers who have not yet filed their GST return for July are advised to do so immediately.”
The government collected Rs 94,000 crore as Goods and Services Tax in July, the first month of the new regime. However, this figure dropped to Rs 90,000 crore for August.
On October 6, the Goods and Services Tax Council said that businesses with a turnover of up to Rs 1.5 crore can now file returns quarterly instead of monthly. Such businesses comprise nearly 90% of all assessees, Finance Minister Arun Jaitley said.
Jaitley had announced a slew of revisions in rules under the new indirect tax regime. Most revisions – discussed at the 22nd meeting of the GST Council he chaired – target small and medium enterprises and exporters, who had made representations to the GST Council about problems they faced.