GST Payment Deadline For April Extended Till May 24

GST payment deadline for April extended till May 24, relief to taxpayers. The government on Tuesday extended the due date of the April GST payment to May 24.

This has been done because taxpayers are facing technical glitches on the GST portal. The government has also asked Infosys to resolve the issue at the earliest.

“Due date for filing Form GSTR-3B for the month of April 2022 has been extended up to 24th May 2022,” the Central Board of Indirect Taxes and Customs (CBIC) said in a late-night tweet.

Earlier in the day on Tuesday, CBIC had said that a technical glitch has been reported by Infosys in the auto-population of April GSTR-2B and GSTR-3B on the portal.

CBIC tweeted, “Govt directed Infosys for speedy resolution. Technical team working to provide GSTR-2B and rectify auto-populated GSTR-3B at the earliest.”

GSTR-2B is an auto-drafted Input Tax Credit (ITC) statement available for each GST registered entity based on the information furnished by their suppliers in their respective sales return Form GSTR-1.

The GSTR-2B statement is usually made available to businesses on the 12th day of the following month, based on which they can pay taxes and claim ITC while filing GSTR-3B.

GST payment deadline: GSTR-3B is filed between the 20th, 22nd, and 24th of every month for different categories of taxpayers.

In such a situation, on Tuesday night, the due date of April GST payment was extended till May 24 by the government.

Significantly, earlier on Sunday, the GST Network (which provides technology support for GST) had said that in some cases certain records are not being reflected in the GSTR-2B statement for the period April 2022.

It had asked taxpayers to file a GSTR-3B return on the basis of self-assessment.

The pace of the country’s economy will be excellent in the first quarter, ICRA expressed this estimate

Rating agency Icra (ICRA) said on Tuesday that the economy is expected to grow at a rate of 12 to 13 percent in the first quarter of the current financial year.

The agency has given this estimate in April, citing the second-largest business activity index in 13 months.

However, ICRA has retained its annual GDP forecast for the current fiscal at 7.2 percent, citing concerns over inflation and consequent RBI’s strictures.