Published On : Tue, Sep 11th, 2018

GSTR-1 last date extended till Oct 31, late fee waived

Nagpur: The Finance Ministry has extended the last date for filling final sales return GSTR-1 for July 2017 to September 2018 period till October 31 and also waived the late fee for the delayed filing of returns.

It said that the numbers of tax payers who have filed summary sales return GSTR-3B is substantially higher than the number of taxpayers who furnished GSTR-1. “In order to encourage taxpayers to furnish from GSTR-1, a one-time scheme to waive late fee payable for delayed furnishing of GSTR-1 for the period from July 2017 to September 2018 till October 31, 2018, has been launched,” the Ministry said.

Under the Goods and Services Tax (GST), businesses with a turnover of over Rs 1.5 crore have to file final sales return or GSTR-1 by the 11th of next month. Accordingly, GSTR-1 for the month of September 2018, was required to be filed by October 11, 2018.

However, this date has now been extended to October 31.

For taxpayers having aggregate turnover up to Rs 1.5 crore, the due date for furnishing GSTR-1 for the quarters from July 2017 to September 2018, too has been extended till October 31, 2018.

Businesses with a turnover of up to Rs 1.5 crore can file returns quarterly needed to be filed by the 31st day of next month.