05/2025-Central Tax — Seeks to extend the due date for furnishing FORM GSTR-7 for the month of December, 2024
Summary
Notification 05/2025-Central Tax, issued on January 10th, 2025, by the CBIC, deals with extending the deadline for filing GSTR-7 for the month of December 2024. Essentially, this notification gives taxpayers who are required to deduct Tax at Source (TDS) under GST a little more time to file their monthly returns.
GSTR-7 is a return that registered individuals or entities need to file if they've deducted TDS under the GST law. These are typically government bodies, public sector undertakings, or other specified entities making payments to suppliers exceeding a certain threshold. They are obligated to deduct TDS and deposit it with the government.
This particular notification extends the original due date for filing GSTR-7 for December 2024 from January 10th, 2025, to January 12th, 2025. So, if you are a TDS deductor under GST and you were supposed to file GSTR-7 by the 10th, this notification grants you a two-day extension. Make sure to file your GSTR-7 for December 2024 on or before January 12th, 2025, to avoid any late fees or penalties. This is a small change, but it's important to note it to stay compliant with the GST regulations. Don't delay filing past the extended deadline.
Key Changes
| Change | Impact |
|---|---|
| Extension of Due Date | The due date for filing FORM GSTR-7 for December 2024 has been extended. |
| Applicability | This extension applies to all taxpayers required to file GSTR-7 for the specified tax period. |
| Tax Period Covered | The extension specifically relates to the GSTR-7 return for the month of December 2024. |