Due date for GSTR-1 extended & waiver of late fees

Due date for GSTR-1 extended & waiver of late fees
Due date for GSTR-1 extended & waiver of late fees
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Due date for GSTR-1 extended & waiver of late fees

Based on the facts, the Government is of the view that the number of taxpayers filing GSTR -3B are way higher than the number of taxpayers filing GSTR-1. According to the provisions of the GST law, late filing of GSTR-1(i.e after the stipulated due date) would attract late fee and penalty.

But to streamline the process or say encourage the taxpayers, the Government has come up with the scheme of waiver of late fee for delay in the filing of GSTR -1 for the period from July 2017 to September 2018.

 

Due dates for filing GSTR -1 
Taxpayer Turnover based Period Due date for GSTR 1 Notification
Taxpayers from Kerala & having the principal place of business in Kodagu (Karnataka) & Mahe (Pondicherry) Taxpayers having aggregate turnover up to Rs. 1.5 crore July 2018 to September 2018 15th November, 2018 Notification No. 38/2018 dated 24.08.18
July 2017 to June 2018 31st October,2018 Notification No. 44/2018 dated 10.09.18
Taxpayers having the aggregate turnover above Rs. 1.5 crores July 2017 to September 2018 31st October,2018 Notification No. 43/2018 dated 10.09.18
Taxpayers from rest of India Taxpayers having aggregate turnover above Rs. 1.5 crore July 2017 to September 2018 31st October,2018 Notification No. 43/2018 dated 10.09.18
Taxpayers having aggregate turnover up to Rs. 1.5 crore July 2017 to September 2018 31st October,2018 Notification No. 44/2018 dated 10.09.18
Taxpayers who will now be migrating to GST as per CGST Notification no. 31/2018

(refer note-1 below)

Taxpayers having aggregate turnover above Rs. 1.5 crore July 2017 to November 2018 31st December, 2018 Notification No. 45/2018 dated 10.09.18
Taxpayers having aggregate turnover up to Rs. 1.5 crore July 2017 to November 2018 31st December, 2018 Notification No. 46/2018 dated 10.09.18
GSTR 3B July 2017 to November 2018 31st December, 2018 Notification No. 47/2018 dated 10.09.18

Note 1: It refers to the taxpayers/persons who received only a Provisional Identification Number (PID) up to 31st December 2017 who could not complete the filing process of FORM GST REG 26 as per the Central Goods and Services Tax Rules, 2017. Such taxpayers may now apply for Goods and Services Tax Identification Number (GSTIN).

For availing input tax credit 

Every registered person shall make sure that all the invoices pertaining to the financial year should be recorded to avail the input tax credit before

  • furnishing the return for the month of September following the completion of the financial year or
  • furnishing of the relevant annual return,

whichever is earlier. Otherwise, the input tax credit would become time-barred. So the taxpayers are advised to furnish their returns on time.

 

Click here to download the press release dated 10th September 2018.


 


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About CA Ankita Khetan 165 Articles
Ankita is a Chartered Accountant in practice and holds a Diploma in IFRS (from ACCA, UK). She is also a Commerce PG and Certified Independent Director (from IICA). She holds a certification in Forex and Treasury Management. Her area of expertise is GST and Income tax. She is passionate about reading, writing, and sharing knowledge on areas related to finance and taxation.

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