GoI Further Explained on Late Fee and Various Returns for July-17

GoI Further Explained :

► Last date for payment of GST for the month of July 2017 for all taxpayers was 25-08-2017.

► Payment of GST is complete only when amount of tax payable is debited from electronic cash / credit ledger.

► Late fee for all taxpayers who could not file GSTR 3B for month of July 2017 has been waived, but not interest on late payment of dues.

► GSTR 1 is to be filed by all taxpayers by 5th of September 2017.

► GSTR 2 and GSTR 3 to be filed by all taxpayers by 10th and 15th of September 2017 respectively.

► Taxpayers who have committed errors in GSTR 3B will be able to put the correct details in GSTR 1-2-3.

► However, interest will be applicable to all taxpayers who have not discharged their complete GST liability for July 2017 by 25-08-2017.

► Vide Circular dated 01-09-2017, procedure for systems based reconciliation of GSTR 1-2 viz., GSTR 3B has been clarified. (Copy of Circular, You can find at :

http://www.cbec.gov.in/resources//htdocs-cbec/gst/Circular%207_7_2017.pdf )