GSTR-3B Due Date – 20th or 28th August?

In the light of the recent clarification from CBEC, the businesses are allowed to use the transitional input tax credit in paying the July month’s tax liability. This is a much needed relief to businesses who had huge amount of transitional credit. This is because they feared that the non-availability of such option would have a severe impact on cash out-flow of the business. With the council’s decision to allow the transitional credit, the due date of GSTR-3B has also been extended for businesses that wish to claim the transitional ITC in July month’s return. As a result, there are two sets of due date to file GSTR-3B for businesses: 20th August, 2017, and 28th August, 2017. Let us discuss […]