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14 lakh biz yet to file July GSTR-1, no extension of due date

Press Trust of India  |  New Delhi 

The today asked 14 lakh businesses to file final returns for the month of July by tomorrow and announced that the due date of October 10 will not be extended further.

Till 1900 hours today, 39 lakh businesses had filed the final sales returns or GSTR-1 out of 53 lakh who are scheduled to submit the form.

Network (GSTN), the IT backbone for the new indirect regime, has sent reminder SMS and emails twice to the businesses who have not filed their GSTR-1.

The has already extended the deadline for filing GSTR-1 for July by two months.

"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," the ministry said in a statement.

Once a taxpayer files GSTR-1 by October 10, the corresponding entries in GSTR-2A of his buyer shall get auto populated.

The buyer shall finalise his GSTR-2 after making modifications, if required, in GSTR-2A and avail the Input Credit (ITC).

"If a taxpayer does not file GSTR-1 by October 10, then his buyer may face difficulty in availing ITC of the tax paid on his supplies," it said.

The ministry said 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.

About 53 lakh taxpayers had filed GSTR-3B return for the month of July 2017. The same number of taxpayers need to file GSTR-1 by October 10.

The has already collected over Rs 95,000 crore as in July, the first month of roll out of the Goods and Services Tax.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, October 09 2017. 21:22 IST