GST returns filing last date: Central Government on Monday asked businesses to file final GST returns for the month of July by Tuesday, October 10, as it ruled out any extension to the due date.
GST returns filing last date: Central Government on Monday asked businesses to file final GST returns for the month of July by Tuesday, October 10, as it ruled out any extension to the due date. “An extension of two months has already been given. There will be no further extension given to taxpayers for filing their GSTR-1 return for July. Taxpayers who have not yet filed their GSTR-1 for July are advised to do so immediately,” the finance ministry said in a statement. A PTI report further added that once filing of GSTR-1 is done by October 10, the corresponding entries in GSTR-2A of his buyer shall get auto-populated. The report says that the buyer has to finalise his GSTR-2 after making modifications, if required, in GSTR-2A and avail the Input Tax Credit (ITC).
“If a taxpayer does not file GSTR-1 by October 10, then his buyer may face difficulty in availing ITC of the tax paid on his supplies,” it said. In the press communique, the Finance Ministry also said that all suppliers of goods or services, especially B2B suppliers, must furnish their outward supply details in GSTR-1 by the due date so that no difficulty is faced by their buyers in availing ITC.
The latest figure says that about 53 lakh taxpayer had filed GSTR-3B return for the month of July 2017. An equal number of taxpayers needs to file GSTR-1 by October 10, 2017. Modi government has already collected over Rs 95,000 crore as GST in the first month of GST roll out, i.e July.