GST Archiving Alert-Why GST Software is Now a Must-Have!

On 29^th September 2024, the GSTN issued an advisory in response to concerns raised by businesses regarding the recent archival of GST return data. As per the GSTN advisory dated 24^th September 2024 about the data archival policy, GST returns older than seven years were archived every month, with the returns for July 2017 and August 2017 being archived on August 1st and September 1st, 2024, respectively.

This archival process was implemented to streamline the management of GST data on the Common Portal. However, following multiple requests from the trade due to difficulties in accessing this historical data, the GSTN has temporarily restored the archived return data. The advisory strongly recommends that businesses download and save any necessary data during this restoration period. The GSTN has also announced that the archival policy will be enforced again, with advance notice, to continue managing the portal's data load.

This development underscores the importance of having systems in place to safeguard and access historical GST data. Businesses should consider leveraging GST software solutions that can automatically store and organize data for easy retrieval, even after official archives have been implemented.

Let’s understand the advisories!

Advisory dated 24.09.2024

Archival of GST Returns data on the GST portal

Sep 24th, 2024

1.  Section 39 (11) of the CGST Act, 2017, implemented w.e.f 01-10-2023 vide Notification No. 28/2023 – Central Tax dated 31st July 2023, provides that the taxpayers shall not be allowed to file their GST returns after the expiry of a period of three years from the due date of furnishing the said return.

2.  Further, as per the GST portal data policy, data for the view of the taxpayer is to be retained for seven years only. Therefore, the same data policy is being implemented on the GST portal. Thus, return data will not be available to view beyond 7 years for taxpayers.

3.  Accordingly, on 01st August 2024 return filed for July 2017 has been archived and on 01st September 2024, data for August 2017 has been archived. Further, this data archival is going to be a monthly activity hence on 01st October, 2024 data of September 2017 shall be taken down from the GST portal and so on.

4.  Hence, hereby the taxpayers are advised to download their relevant data from the GST portal for any future reference if required.

Thanks,
Team GSTN

Advisory dated 29.09.2024

Restoration of GST Returns data on Portal

Sep 29th, 2024

Please refer to the advisory issued on 24th September 2024 regarding the archival of return data from the Common Portal after seven years. This data was archived in line with the data archival policy. The data archival process was implemented every month. Consequently, the return data for July 2017 and August 2017 was archived on 01st August and on 01st September respectively.

However, given the requests received from the trade due to the difficulties faced, data has been restored on the portal. We recommend you download and save the data if needed, as the archival policy shall be implemented again after giving advance information.

Thank you for your cooperation.

Thanks,
Team GSTN

Key Highlights of the GST Archiving Updates

1. Archival of GST Returns:

• As per the GSTN's data policy, return data older than seven years is being archived every month.
• Returns for July 2017 were archived on August 1, 2024, and for August 2017 on September 1, 2024. The same process will continue for subsequent months.

2. Temporary Data Restoration:

• Due to challenges faced by businesses, the archived data for July and August 2017 has been temporarily restored on the portal.
• The restoration allows businesses to download and save the necessary historical data before the archival policy is re-enforced.

3. Recommendation for Businesses:

• Businesses are urged to download and save archived data for future reference as the archival policy will be implemented again with advance notice.

4. Ongoing Archival Process:

• The data archival process is a monthly activity; for example, data for September 2017 will be archived on October 1, 2024, continuing similarly for future months.

Why GST Software is essential?

In light of the recent archival of GST return data, the need for reliable GST software has become more crucial than ever. With the GSTN's data archival policy limiting access to returns older than seven years, businesses may face challenges in retrieving historical data, especially during audits or for financial reference. CashFlo automatically archives, organizes, and stores all necessary data, ensuring that businesses have uninterrupted access even after it has been removed from the GST portal. Moreover, CashFlo provides real-time updates, seamless data management, and accurate compliance, allowing businesses to meet regulatory requirements without worrying about data loss or limited access to older returns. 

Conclusion

The recent updates on the GST data archival policy emphasize the critical need for businesses to proactively manage their GST records. With the GSTN moving forward with its plan to archive returns older than seven years, the temporary restoration of data provides a brief window for businesses to download and safeguard necessary historical information. However, to ensure long-term compliance and prevent disruptions, investing in reliable GST software is now more important than ever. Such software solutions can simplify the process by automatically storing and organizing data, ensuring easy access to historical records even after they are removed from the GST portal. 

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