The 53rd meeting of the Goods and Services Tax (GST) Council, presided over by Union Finance Minister Nirmala Sitharaman, convened today to address critical amendments aimed at easing compliance for small taxpayers. One of the significant decisions taken during the session was the extension of the deadline for filing GSTR-4 returns.
Union Finance Minister Nirmala Sitharaman announced, “In order to assist small taxpayers, the Council recommended extending the time limit to furnish details and returns in the form GSTR-4. Previously set for April 30th, the council has recommended that it be extended to June 30th. This extension will be applicable for returns pertaining to the Financial Year 2024-25 onwards.”
#WATCH | On the 53rd GST Council Meeting, Union Finance Minister Nirmala Sitharaman says “In order to help small taxpayers, the Council recommended extending the time limit to furnish the detail and the returns in the form GSTR 4 from 30th April, the council has recommended that… pic.twitter.com/R2lQe0Uu6A
— ANI (@ANI) June 22, 2024
The GSTR-4 form is specifically designed for Composition Scheme taxpayers, providing a simplified mechanism for reporting their tax liabilities. This extension is expected to provide much-needed relief to small businesses and reduce the compliance burden amidst ongoing economic challenges.
During the meeting, discussions also encompassed broader issues concerning indirect tax reforms and adjustments necessary to streamline the GST framework further. The Council reaffirmed its commitment to fostering a taxpayer-friendly environment while ensuring the efficiency and integrity of the GST regime.
The decision to extend the deadline for GSTR-4 filing underscores the Council’s proactive approach in responding to the needs of small taxpayers, reflecting ongoing efforts to enhance ease of compliance and operational flexibility under GST regulations.
The 53rd GST Council meeting marks another step towards addressing key challenges faced by taxpayers, with a renewed focus on supporting economic recovery and sustainable growth across sectors.
