objective of ensuring smooth rollout of GST and taking into account the
concerns expressed by the trade and industry regarding filing of the returns in
GST regime, it has been decided that, for the first two months of GST
implementation, the tax would be payable based on a simple return (Form
GSTR-3B) containing summary of outward and inward supplies which will be submitted
before 20th of the succeeding month. However, the invoice-wise details in
regular GSTR-1 would have to be filed for the months of July and August, 2017.
No late fees
and penalty would be levied for the interim period. This is intended to provide
a sense of comfort to the taxpayers and give them an elbow room to attune
themselves with the requirements of the changed system. This not only
underlines the government’s commitment towards ensuring that all the
stakeholders are on board but also provides an opportunity to the taxpayers to
be ready for this historic reform, says a release by Central Board of Excise
and Customs on 18th June.