The Government of India now has extended the last date for filing the final sales return GSTR-1 by 10 days i.e. one can now file the final sales return till January 10, 2018, under the Goods and Services Tax as per the sources. A government press release stated that businesses that have a turnover of up to Rs. 1.5 crores will now have to file GSTR-1 under the Goods and Services Tax for the period July–September by January 10, 2018, as against December 31, 2017, as stated earlier and for organizations with turnover of more than Rs. 1.5 crores should file GSTR-1 for the period July to November by January 10, 2018.
Earlier, these organizations were required to file GSTR-1 return for the period July to October by December 31, 2017, and for November by January 10, 2018. For the month of December 2017, GSTR-1 is to be filed by February 10, 2018, and for the succeeding months, it would be the 10th day of the subsequent month.
Abhishek Jain, Tax Partner, EY said in a statement that the due date for filing of monthly GSTR-1 under Goods and Services Tax for the period July to November has been extended to January 10, 2018. This is thought to bring quite a relief to businesses that have been besieged with the new system and data issues & file returns.
The Good and Services Tax Council had previously in November 2017 allowed industries with turnover of up to Rs 1.5 crores to file final returns GSTR-1 quarterly under the Good and Services Tax. Moreover, businesses with turnover of up to Rs 1.5 crores will now have to file returns by February 15, 2018, for the period of October to December and for the period of January to March by April 30, 2018.