New Delhi: The government on Monday asked 14 lakh businesses to file final goods and services tax (GST) returns for the month of July by Tuesday and announced that the due date of 10 October will not be extended further.
Till 1900 hours Monday, 39 lakh businesses had filed the final sales returns or GSTR-1 out of 53 lakh who are scheduled to submit the tax form.
GST Network (GSTN), the IT backbone for the new indirect tax regime, has sent reminder SMSes and emails twice to the businesses who have not filed their GSTR-1. The government 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 finance ministry said in a statement.
Once a taxpayer files GSTR-1 by 10 October, 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 Tax Credit (ITC).
“If a taxpayer does not file GSTR-1 by 10 October, 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 10 October. The government has already collected over Rs95,000 crore as GST in July, the first month of roll out of the goods and services tax.