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The deadlines for filing GSTR- 1 sales returns of July-September quarter have been extended by the GST Council for more 10 days till 10th January 2018, earlier it was 31st December 2017.
The business which has not got input tax credit (ITC) on provided services or on a closing stock is eligible to claim a credit under before GST implementation regime, without concerning whether they are registered taxpayers or not under this newly implemented indirect tax regime.
It has been around 6 months since GST was implemented in the country, some of the taxpayers have claimed that their data is merging with the others at the GSTN Portal. In respect of this, the Information Technology department is blaming that the taxpayers are registering with multiple entities at a time.
CBEC formulates the GSTR-3B form which is an interim return consolidating details about outward and inward supplies to be furnished every month from July 2017 to March 2018.
GSTR-1 is the first in the sequence of filing GSTR forms. The form is required to be furnished every month with the outward supplies details in a particular month.
In the reign of goods and services tax, there are lots of goods and services which have suffered a sudden price rise even if they are basic to the common man.
After the implementation of GST, it was also needed some digital support and authority to provide necessary details and announcement on the online platform.
According to the official sources, Those taxpayers failed to file returns under GST would get an official notification from the government very soon. The government is ready to issue notices to GST defaulters.
Several warnings from industry officials were ignored by the government in respect of complex taxation reform. GST Network, an Information Technology (IT) backbone required to handle all the activities of Goods and Services Tax (GST) Reform was not ready for the launch, said some of the officials.
