Goods
and services tax
Updates / Press releases :
Dated
: 09th October, 2017
cbec Press Release :
No extension of last date for filing GSTR-1 for July,
2017
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.
Full Circular can be
access at : http://www.cbec.gov.in/resources//htdocs-cbec/press-release/CBEC_Press_Release_dt_09.10.17.pdf
