Due date for filing GST Returns for period between October, December is January 13, clarifies govt
The due date for quarterly filing of Goods and Services Tax Returns for the third quarter of 2020 (the period between October and December) is January 13, the GSTN said on Tuesday. "The date currently being shown in the GSTR-1 tile is 31.01.2021 which is erroneous and the correct date i.e. 13.01.2021 will be displayed on the portal soon," GSTN clarified.
"Please bear with us and follow the date of 13.01.2021 for compliance. Inconvenience caused is regretted," the GSTN went on to add.
In December of last year, India recorded the highest ever GST revenue at Rs 1.15 lakh crore since the new tax system was introduced in 2017. According to official data, GST collections in December of 2020 were 12 per cent more than the corresponding period of the previous year.
The Government of India has gone on record to state that the increase in GST collections is the result of better compliance. In addition, authorities have also relied on data analytics to crackdown against fraud and evasion in a bid to plug leaks by examining audit trails.
Apart from the GST, gross tax collection in India also registered an increase of 23 per cent in November of last year. However, gross revenue for the period leading up to November 2020 was less than for the same period of the previous year.
Earlier this month, Finance Secretary Ajay Bhushan Pandey said that the government has sought the help of the Income Tax (IT) department to inspect illicit companies as part of a concerted crackdown against as many as 7,000 fraud companies.
Source: India Today