If your business is registered under GST, there’s an important update for you. The Goods and Services Tax Network (GSTN) has announced that starting October 1, 2024, data related to GST returns older than seven years will no longer be available on the GST portal. This move will impact taxpayers who may need to access older data for their records.
Why GSTN Is Removing Old Data
The decision to remove older returns comes as part of GSTN’s data management efforts. The advisory issued on September 24, 2024, highlights that the accumulation of old returns data puts extra load on the GST portal. By deleting returns older than seven years, GSTN aims to improve the performance and efficiency of the portal for taxpayers.
What Taxpayers Should Do Before October 1
As per the advisory, taxpayers are advised to download any return data older than seven years by September 30, 2024. After this date, such data will be deleted from the portal on a monthly basis. For instance, the returns data from September 2017 will be the first to be removed on October 1, 2024. This means taxpayers who require access to these records for auditing, financial, or legal purposes should secure them in their own records before the deadline.
Impact of GST’s Data Removal Policy
Although the data older than seven years will be deleted from the portal, it will still be available to the government. However, if taxpayers need to retrieve such records later, obtaining them may be a lengthy and difficult process. Therefore, it is in their best interest to download and save their old returns now to avoid any future issues.
GST: 7 Years Since Implementation
The GST system, introduced in July 2017, revolutionized India’s tax landscape by unifying multiple taxes into one simplified system. Over time, this has helped reduce cases of tax evasion and streamlined tax collection processes. With more than seven years now passed since its implementation, the removal of older return data is a natural step to ensure the GST portal remains user-friendly and responsive for all.
Final Reminder: Download Your Data Before It’s Gone
Taxpayers are strongly encouraged to act now and download any returns older than seven years before September 30, 2024. Failing to do so could result in difficulties if you need access to these records in the future. After October 1, only data from the past seven years will be available on the GST portal.
