No further Extension of Due Date for filing of GSTR-1 for July 2017: CBEC

No extension of last date for filing GSTR-1 for the month of July, 2017: CBEC

The CBEC has issued a Press Release to clarify that last date for filing GSTR-1 for the month of July, 2017 will not be extended any further beyond 10 Oct. 2017. Also, CBEC has advised taxpayers to file GSTR-1 immediately, so that GSTR-2A can facilitate processing of ITC for B2B transactions. Further, GSTN has announced that GSTR-1 can’t be filed during 11 Oct. 2017 to 31 Oct. 2017.

No further Extension of Due Date for filing of GSTR-1 for July 2017: CBEC Press Release dt. 9 Oct.

1. The last date for filing GSTR-1 for the month of July, 2017 is 10th October, 2017. 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.

2. Once a taxpayer files GSTR-1 by 10th October, the corresponding entries in GSTR-2A of his buyer shall get auto populated. The buyer shall finalize his GSTR-2 after making modifications (additions, corrections or deletions), if required, in GSTR-2A. The Input Tax Credit (ITC) shall be availed by the buyer based on his GSTR-2. If a taxpayer does not file GSTR-1 by 10th of October, then his buyer may face difficulty in availing ITC of the tax paid on his supplies. It is therefore advised that all suppliers of goods or services, especially B2B suppliers, furnish their outward supply details in GSTR-1 by the due date so that no difficulty is faced by their buyers in availing ITC and the return cycle can be completed in due course.

Related Posts:

GST Return Due Dates Extended for July-August 2017: CBEC Notifications

Leave a Reply

FREE NEWSLETTER

Please Signup for 

CA Club's Daily Updates via Email

(After submitting your email below, please check your inbox. Open the email from Feedburner and click on the confirmation link... That's All)