NO EXTENSION OF LAST DATE TO FILE GSTR-1 FOR THE MONTH OF JULY 2017 (10.10.2017 LAST DATE)
The Goods and Services Tax Act, 2017 came into force in India with
effect from 1.7.2017.
The filing date for filing GSTR-1 Return due on 20.8.2017 has been relaxed
and time extended upto 10.10.2017.
The Central Government has stated that there will
be
no further extension given to taxpayers for filing their GSTR-1 return for July and instructed the taxpayers to file
GSTR-1 for the month of July 2017 before 10.10.2017.
The Press Release issued by
the Central Government is given below for ready reference.
PRESS RELEASE
9th October, 2017
No extension of last date for
filing GSTR-1 for July, 2017
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.
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