GST Alert for Taxpayers! Today GSTR 7 & GSTR 8 Filing Last Date

It is important news for GST taxpayers as the Central Board of Indirect Taxes and Customs (CBIC) has announced to file the GSTR-7 and GSTR-8 for the month of August 2021 by Sept 10th, 2021.

This all focused on the GST Taxpayers who needed to withdraw Tax at Source (TDS) and TCS under GST. Late filing of GSTR -7 & GSTR 8 probably engages late fees and interest. 

CBIC has tweeted: "Attention GST Taxpayers who are required to deduct Tax at Source (TDS) under GST! File your GSTR-7 & GSTR 8 Return for the month of August 2021 by September 10th, 2021." 

Earlier month, it has notified that government pours relaxation on taxpayers by lowering/renouncing the late fees for non- furnishing form GSTR -3B throughout the tax period from July 2017 to April 2021, However, if it is supposed to returns for these tax time span are embellished from June 01, 2021, to August 31, 2021. 

Whereas, the end date to claim the advantages of the late fee release scheme was to widen from the existing August 31, 2021, to November 30, 2021. 

On the contrary to various representations collected, the authority also expanded the timelines for filing an application for revocation or cancellation of registration to September 30, 2021. On which the last date filing of an application for revocation of cancellation of registration drops between March 01, 2020, to August 31, 2021. 

The addition will only be acceptable in terms when those registrations have been abandoned under clause (b) or clause ©  of sub-section (2) of section 29 of the CGST Act.  

The filing of FORM GSTR - 3B and FORM GSTR -1 / Furnishing Facility (IFF) under GST by companies through electronic verification code ( EVC ) apart from the Digital Signature Certificate (DSC) which has been already authorized for the time span from April 27, 2021, to August 31, 2021. Additionally, it has been stretched up to 31st October 2021. 

The addition of the end date of the late fee amnesty scheme and the addition of a time period for filing an application for cancellation of registration will ease a massive number of taxpayers. It would have more effect on the small taxpayers who aren’t able to submit their return files due to many causes especially in the tough time of the COVID - 19 pandemic and due to which their registrations expired for the same. It has been asked to the taxpayers to utilize the extension before the crowd indulges at the last moment.