Keeping up with tax updates is essential for every taxpayer. A new data archival policy on the GST portal could affect how long you can access your past GST returns. Let’s break down the key points and what actions you need to take.
Key Update: Section 39(11) of the CGST Act, 2017
From October 1, 2023, a new rule from the CGST Act, 2017 (Section 39(11)) has come into effect. It says you cannot file your GST returns after three years from the original due date. This change was introduced through Notification No. 28/2023 – Central Tax on July 31, 2023. So, it’s more important than ever to file your returns on time.
What Does Data Archiving Mean for You?
In addition to this, the GST portal has a new data retention policy. It will keep your GST returns data available for seven years. After that, the data will be archived, which means you won’t be able to view it on the portal.
For example, the returns filed for July 2017 were archived on August 1, 2024. Similarly, on September 1, 2024, returns from August 2017 were archived. This process will continue every month. Therefore, on October 1, 2024, the returns for September 2017 will be archived too.
Why You Should Act Now
Since archived data won’t be available on the portal, it is important to download your past GST returns before they get archived. This is especially necessary if you need these returns for audits or future reference.
Steps to Save Your GST Returns Data
To ensure you have access to your past returns, follow these steps:
- Log in to the GST portal.
- Download your past returns and keep them for future use.
- Store the data securely, either in digital form or as hard copies.
By doing this, you can avoid the inconvenience of not having access to archived data when you need it.
For more information please refer below Link:
https://www.gst.gov.in/newsandupdates/read/523
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This article is only a knowledge-sharing initiative and is based on the Relevant Provisions as applicable and as per the information existing at the time of the preparation. In no event, RMPS & Co. or the Author or any other persons be liable for any direct and indirect result from this Article or any inadvertent omission of the provisions, update, etc if any.
