In a recent advisory issued on September 29, 2024, the Goods and Services Tax Network (GSTN) announced the temporary restoration of archived GST returns data on the GST portal. This decision comes in response to numerous requests from the trade community, including businesses, companies, GST professionals, Chartered Accountants (CAs), GST tax practitioners, and related professionals, who faced significant challenges due to the archival of return data. While this restoration provides a temporary reprieve, it is crucial for all stakeholders to understand that the archival policy will be re-implemented after advance notice.
The GSTN had previously issued an advisory on September 24, 2024, detailing the archival of GST returns data older than seven years. This policy, implemented on a monthly basis, saw the archival of return data for July 2017 on August 1, 2024, and for August 2017 on September 1, 2024. However, due to the difficulties faced by businesses and professionals, the GSTN has temporarily restored this data on the portal.
Important to note by Taxpayers:
Temporary Restoration:
The archived data for July and August 2017 has been restored on the GST portal.
Archival Policy:
The archival policy will be re-implemented after providing advance notice.
What should you do ?
Businesses, companies, and professionals are advised to download and save the restored data for future reference.
Comments