GSTR-1

The finance ministry has notified the GSTR-1A form which will give an option to taxpayers to amend outward supply or sales return form. Last month, the GST Council had recommended providing a new optional facility by way of form GSTR-1A to facilitate the taxpayers to amend the details in form GSTR-1 for a tax period and/ or to declare additional details. GSTR-1A will, however, have to be filed before filing of return in GSTR-3B for the said tax period. The finance ministry on July 10 notified the GSTR-1A form. Moore Singhi Executive Director Rajat Mohan said the Central Board of Indirect Taxes and Customs (CBIC) has introduced a significant enhancement to the GST compliance framework with the optional facility of form GSTR-1A. "By facilitating timely corrections, form GSTR-1A ensures that the correct tax liability is auto-populated in form GSTR-3B, reducing manual errors and fostering a streamlined compliance process," he said. This amendment not only minimizes the risk of penalt

Businesses that default on filing summary return and paying monthly GST will not be able to file GSTR-1 sales return of the succeeding month from January 1 next year.

So far, the GST system used to compute eligible ITC based on suppliers' sales return GSTR-1, but the break-up at the invoice level was not provided

While GSTR-1 is filed by sellers and contains invoice-wise and category-wise details of all outward supplies. This has to be filed by 11th of the succeeding month

Taxpayers willing to file GSTR-1 have to send SMS to 14409 to initiate the SMS facility

The government Wednesday extended the last date for filing final sales return form GSTR-1 for March by two days till April 13. Similarly, the due date for furnishing tax deducted at source (TDS) return GSTR-7 for March has also been extended till April 12. The last date for filing GSTR-1 and GSTR-7 for the month was April 11 and April 10, respectively. "The details of outward supply of goods or services or both in Form GSTR-1 of the Central Goods and Services Tax Rules, 2017, for the month of March 2019 shall be furnished electronically through the common portal, on or before April 13, 2019," the Central Board of Indirect Taxes and Customs (CBIC) said in a notification. The extension of due date for filing sales return came after businesses complained of some issues in the GSTR-1 form while filing the form. AMRG & Associates Partner Rajat Mohan said, "Even after 20 months of GST implementation, GSTN is suffering from technical glitches leading to inefficiencies in the overall ...

GSTR-2 or purchase return for July has to be filed by businesses between October 11-31