Goods and Services Tax (GST) is an indirect tax system that has transformed India's taxation landscape. It has replaced multiple indirect taxes levied by the central and state governments, streamlining the taxation process and fostering ease of doing business. However, to ensure smooth implementation, GST compliance is crucial for businesses. This article aims to provide a comprehensive overview of the GST compliance due dates in India, helping businesses stay updated and fulfill their obligations in a timely manner.

1. GST Registration: The first step towards GST compliance is obtaining a GST registration. The due date for GST registration is typically within 30 days from the date on which the business becomes liable to register for GST. Failure to register within the specified time can lead to penalties and legal consequences.

2. GST Returns: Under GST, registered taxpayers are required to file periodic returns, providing details of their business transactions. The GST return filing due dates vary depending on the type of taxpayer and the turnover.

1. GSTR-1: This return contains details of outward supplies or sales made by the taxpayer. It needs to be filed monthly or quarterly, depending on the turnover, by the 11th of the succeeding month.

1. GSTR-3B: This is a monthly summary return that includes details of both outward supplies and input tax credit. The due date for GSTR-3B is usually the 20th of the following month.

1. GSTR-4: It is a quarterly return for taxpayers registered under the Composition Scheme. The due date for GSTR-4 is the 18th of the month following the end of the quarter.

1. GSTR-9 and GSTR-9C: These are annual returns for regular taxpayers, providing a comprehensive summary of their transactions. The due date for filing GSTR-9 and GSTR-9C is typically the 31st of December of the subsequent financial year.

3. Payment of GST: Along with filing returns, businesses are required to make timely payment of GST liability. The due date for payment of GST is usually the same as the due date for filing returns (GSTR-3B). Non-payment or delayed payment of GST can result in penalties and interest charges.

4. Reconciliation and Annual Audit: Registered taxpayers with a turnover above a certain threshold are required to undergo an annual audit and reconciliation of their GST records. The due date for filing GSTR-9C, the reconciliation statement, is the same as the due date for GSTR-9.

5. Input Tax Credit Reversal: In certain cases, taxpayers are required to reverse the input tax credit claimed on goods or services. This typically happens when the goods or services are not used for business purposes or are exempt from GST. The reversal of input tax credit should be done by the due date of filing the return for the month of September following the end of the financial year.

6. E-Way Bill Compliance: For the movement of goods worth more than a specified threshold, businesses need to generate an e-way bill. The due date for e-way bill compliance is determined based on the distance between the consignor and the consignee, as well as the mode of transportation.

It's important to note that these due dates are subject to periodic updates by the GST authorities, so businesses should always stay updated with the latest notifications and circulars to ensure compliance.

Created & Posted by Pooja

Income Tax Expert at TAXAJ

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