Menu
Type of Document: Advisory
Advisory Date: 04th December 2024
Relevant Act / Rule: Central Goods and Service Tax Act, 2017, Central Goods and Service Tax Rules, 2017
The Goods and Services Tax Network (GSTN) has clarified the implementation of sequential filing for Form GSTR-7 returns, effective 1st November 2024, in line with Notification No. 17/2024-Central Tax, dated 27th September 2024.
Key Highlights:
1. Sequential Filing Requirement:
From the October 2024 tax period, GSTR-7 returns must be filed in chronological order. This means deductors must complete the filing of earlier period returns before moving on to the subsequent periods.
2. Nil Returns for Non-Deduction Months:
Deductors are required to file Nil returns for months in which no deductions have been made. This ensures compliance with the sequential filing requirement.
3. Reference to FAQs:
While earlier FAQs suggested that sequential filing was not mandatory, this update supersedes previous guidance, making sequential filing mandatory moving forward.
4. Support for Taxpayers:
Taxpayers facing difficulties or requiring further clarification can reach out to the GSTN Helpdesk for assistance.
This change aims to streamline the return filing process and ensure better compliance under GST. Taxpayers are advised to adhere to these updates to avoid any filing discrepancies.
Notification Link: https://www.gst.gov.in/newsandupdates/read/555
Disclaimer: The information contained in this Article is intended solely for personal non-commercial use of the user who accepts full responsibility of its use. The information in the article is general in nature and should not be considered to be legal, tax, accounting, consulting or any other professional advice. We make no representation or warranty of any kind, express or implied regarding the accuracy, adequacy, reliability or completeness of any information on our page/article.