New Delhi, Aug 3 (KNN) Businesses can start filing their first GST returns and pay taxes for July on the portal of GST Network from August 5, GST Network CEO Navin Kumar has said.

In a conversation with PTI, Kumar said, “The first tax returns under the new Goods and Services Tax (GST) regime can be filed from Saturday and the facility will remain open till August 20.”

To make compliance easy for businesses, the GST Council has allowed businesses to initially file their returns on self-assessment basis in the first two months of the GST rollout.

So, the GST returns for July and August will be filed on the GSTN portal by filling up GSTR 3B form.

Kumar also said that the facility of filing interim return form GSTR 3B will start by August 5 and any registered entity who has transacted business in July will have to file the return by August 20, reports PTI.

GSTN has tied up with 25 agency banks authorised by the RBI to collect taxes, he said.