GSTR 3B Return Extension for October 2024

In a significant move to ease compliance for businesses, the Central Board of Indirect Taxes and Customs (CBIC) has issued Notification No. 26/2024–Central Tax, dated 18th November 2024. This notification extends the due date for filing the GSTR-3B return for the month of October 2024.

Key Highlights of the Notification:

1. Extended Due Date:
   • The due date for furnishing the GSTR-3B return for October 2024 has been extended to 21st November 2024.
   • This extension applies specifically to registered persons whose principal place of business is in the states of Maharashtra and Jharkhand.
2. Legal Basis:
   • The extension is granted under the powers conferred by sub-section (6) of section 39 of the Central Goods and Services Tax Act, 2017.
   • The decision is made on the recommendations of the GST Council, ensuring that it aligns with the broader policy framework.
3. Affected Taxpayers:
   • The notification targets taxpayers who are required to furnish their returns under sub-section (1) of section 39 read with clause (i) of sub-rule (1) of rule 61 of the Central Goods and Services Tax Rules, 2017.
   • This primarily includes businesses operating in Maharashtra and Jharkhand, providing them with additional time to comply with their tax filing obligations.

Implications for Businesses:

The extension of the due date for GSTR-3B filing is a welcome relief for businesses in Maharashtra and Jharkhand. It provides additional time to ensure accurate and timely filing of returns, thereby reducing the risk of penalties and interest for late submission. This move is particularly beneficial for businesses that may have faced operational challenges or delays in gathering the necessary data for their returns.

Conclusion:

The CBIC’s decision to extend the GSTR-3B filing deadline reflects its commitment to facilitating ease of doing business and ensuring compliance with GST regulations. Businesses in Maharashtra and Jharkhand should take note of the new deadline and ensure that their returns are filed by 21st November 2024 to avoid any compliance issues.

Stay updated with the latest notifications and ensure timely compliance to benefit from such extensions and avoid any last-minute hassles.