Here’s why these taxpayers still need to file it to avoid serious consequences
Sometimes you need to show a good faith and file your monthly GST returns on time despite no risk of attracting a late filing penalty. GSTR-7 is one such monthly return. The Goods and Services Tax Network (GSTN) has informed that no late filing fees are required to be paid if a taxpayer is filing ‘nil’ GSTR-7 return late i.e. after the deadline.
However, since October 2024, GSTR-7 filing has been made sequential, so you really can’t skip filing any month’s GSTR-7 as doing so would prevent you from filing it for subsequent months.
“Attention Taxpayers! Issues related to the late fees on ‘Nil’ GSTR-7 filings for Oct 2024 return will be resolved tonight. In line with Notification No. 23/2024-Central Tax, dated 8th Oct 2024, no late fee payment is needed to file ‘Nil’ GSTR-7 return starting from October 2024 return period, on GST portal,” said GST Tech (Infosys_GSTN) on X (formerly Twitter) on December 7, 2024.
Is filing GSTR-7 mandatory for all GST registered taxpayers on or before 10th of each month?
GSTR-7 is a monthly return to be filed by every GST registered taxpayer who is required to deduct Tax at Source (TDS) under GST, capturing all the details of TDS deducted, TDS paid and payable, refund claimed etc.
The deadline for filing GSTR-7 is December 10, 2024 for the November 2024 tax period. If in the given tax period, you did no transactions where TDS under GST is required to be deducted then you need to file a ‘nil’ GSTR-7 return.
