Quick Summary
In a recent development, the Central Board of Indirect Taxes and Customs (CBIC) has issued Notification No. 20/2024 Central Tax on October 08, 2024, introducing a significant change to Rule 66 of the Central Goods and Services Tax (CGST) Rules. This amendment introduces a timeline for submitting FORM GSTR-7, used by registered persons to deduct tax at source (TDS) under Section 51 of the CGST Act. Key Update The amendment specifies that FORM GSTR-7 must be furnished "on or before the tenth
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FAQ :
Form GSTR-7 is used by registered persons to deduct tax at source (TDS) under Section 51 of the CGST Act.
The Central Board of Indirect Taxes and Customs (CBIC) has set the new deadline.
The new rule comes into effect from November 1, 2024.
Form GSTR-7 must be furnished on or before the tenth day of the month succeeding the calendar month.
The core requirement to file electronically through the common portal remains, but the deadline for submission has been formalised.
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