New Delhi - The government ruled out further extension of the deadline in filing the Goods and Services Tax (GST) return GSTR-1 for the first month of implementation in July on the ground of having already granted a two-month extension.
"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," a Finance Ministry statement said.
"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 finalise his GSTR-2 after making modifications (additions, corrections or deletions), if required, in GSTR-2A," it said.
"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," it added.
As decided in the GST Council meeting on September 9 in Hyderabad, returns for July have to be filed by October 10 under GSTR-1, by October 31 under GSTR-2 and by November 10 under GSTR-3.
Last month, the government ruled out further extension in filing of GST returns after December. The GST Council has allowed businesses to file GSTR-3B, which is a self-assessment of their sale and purchases, till December.