Due dates for Payment of GST

The due dates for the payment of Goods and Services Tax (GST) vary depending on the type of taxpayer and the scheme under which they are registered. It’s crucial for businesses to adhere to these dates to avoid interest, penalties, and other compliance issues. Note that the government may revise these dates or provide extensions under specific circumstances, so it’s advisable to always check the latest notifications from the GST Council or the Central Board of Indirect Taxes and Customs (CBIC).

Regular Taxpayers

For regular taxpayers, who file monthly returns under GSTR-3B, the due dates for GST payment are as follows:

• 20th of the following month for most taxpayers.
• Businesses with an annual turnover of up to Rs. 5 crore in the previous financial year have the option to file their GSTR-3B and make payment quarterly under the QRMP (Quarterly Return Monthly Payment) scheme. For these taxpayers, the payment due dates would be the 22nd or 24th of the month following the quarter, depending on the state or union territory they are registered in.

Composition Taxpayers

Taxpayers who have opted for the Composition Scheme under GST have to pay tax quarterly. The payment of GST for composition taxpayers is integrated with their quarterly return filing in form GSTR-4. The due date for both payment and filing the return is:

• 18th of the month following the quarter for which the return is being filed.

Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) Taxpayers

For taxpayers who are required to deduct or collect tax at source under GST:

• The due date for depositing TDS/TCS is the 10th of the following month.

Non–Resident Taxable Persons

Non-resident taxable persons are required to make the payment of GST at the time of submission of the registration application, for the period for which the registration is sought. Any additional tax liability must be paid by the 20th of the following month.

Annual Return and Final Payment

Apart from monthly or quarterly payments, the annual return for regular taxpayers is due by 31st December of the following financial year. The final tax payment for the financial year should also be completed by this date, based on the reconciliation of the returns filed and the taxes paid during the year.

Importance of Timely Payment

Timely payment of GST is crucial to avoid interest (charged at 18% per annum calculated on a day-to-day basis) and late fees (which can vary based on the type of return and the length of the delay). Keeping track of these due dates and ensuring compliance is essential for smooth business operations and maintaining a good compliance rating on the GST portal.

Businesses should regularly check for any notifications or circulars issued by the GST council or the CBIC for any changes or extensions in the payment and filing deadlines, especially in situations like natural calamities, pandemics, or technical issues with the GST portal.