Under the goods and services tax regime, every taxpayer is supposed to file their taxes as of 20th December 2024 which is the due date for the filing of GSTR 3B and GSTR 5A without penalty. GSTR 5 form due date is 13th January 2025 for the month of December 2024.
GSTR 5 is filed by the non-resident Indians, while GSTR 3B and GSTR 5A will be filed by the taxpayers. It is suggested that all those taxpayers who have still not filed their tax returns must file as soon as possible.
Along with it, all those units with turnovers of more than 1.5 crores will have to file GSTR 1 returns by 11th January 2025 anyhow to avoid any penalty. In the GSTR 3B form, businesses have to provide all the sales information along with the reverse charge details of transactions held with business units of less than the turnover of 20 lakhs.
Also includes the details of the input tax credit, interstate business deals and transactions with non-registered dealers. GSTR 5 form is also meant to be submitted by the NRI dealers having business transactions in India in which they have to provide all the details of all the dealing done in India.
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