New Delhi: The deadline for filing of simplified sales returns GSTR-3B is likely to be extended by three months till June. The GST Council has decided this in a meeting held on Saturday.
The Council, chaired by Finance Minister Arun Jaitley and comprising his state counterparts, is also expected to finalise a simplified return filing procedure for businesses registered under Goods and Services Tax (GST) regime.
The 26th GST Council meet is slated on March 10. Simplified sales return GSTR-3B was introduced in July, the month of GST rollout, to help businesses to file returns easily in the initial months of GST roll out. This was to be followed by the filing of final returns -- GSTR - 1, 2 and 3.
With businesses complaining of difficulty in invoice matching while filing final returns as well as complications in GSTN systems, the GST Council in November last year extended GSTR-3B filing requirement till the end of March 2018 and did away with the filing of purchase return GSTR-2 and final return 3.
"GSTR-3B filing system has stabilised and businesses are comfortable. So, businesses can continue to pay taxes by filing 3B till the time new return filing system is put in place," the official added.
The last date for filing initial GSTR-3B returns for a month is the 20th of the subsequent month. The GST Council had in January entrusted Bihar Deputy Chief Minister Sushil Kumar Modi led GoM to work out a simplified return filing process so that businesses can fill up only a single form to file returns under GST.
The group of ministers met last month to work out a simplified return form, but the meeting remained inconclusive. In the GoM meeting, the Centre and state officials presented their model for return simplification, while Nandan Nilekani also made his presentation.