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• Let us have a bird’s eye view for the GST return preparation and due dates for the month of July 2017 and August 2017.
• There have been widespread concerns over the smooth rollout of GST and there were some glaring concerns from trade and industry. These have led to a decision by the government that for the first two months of the GST implementation, GST would be payable basis a simple return form – Form GSTR-3B. This will contain a summary of outward and inward supplies and you need to submit this before 20thof the succeeding month.
• The invoice-wise details in regular GSTRs would have to be filed for the months of July and August, 2017 as per the timelines given below:

  Month	GSTR 3B	GSTR 1	GSTR 2	GSTR 3
  July, 2017	20th August 2017	1st to 5th September 2017	6th to 10th September 2017	11th to 15th September 2017
  August, 2017	20th September 2017	16th to 20th September 2017	21st to 25th September 2017	26th to 30th September 2017

• Department will not levy any penalties in this interim period. This move is intentional and aims at giving taxpayers some time to accustom themselves to the new system. Taxpayers in fact have every reason to welcome this move since this is an effort on government’s part to make sure that everyone participates in the new system and be a part of the GST network for their own benefit.

Importance for Taxpayers:

• It is pertinent to note for the taxpayers that though the simple form of return (Form 3B) has been prescribed by the Government for the month of July and August 2017, yet the taxpayer is also required to furnish the invoice wise details in GSTR 1, 2 and 3 for the said months on the extended due date as mentioned above.
• Filing of Form 3B will not conclude the liability of the taxpayer to file invoice wise details in corresponding returns for the month of July and August 2017.