GST Council has announced that GSTR-1 filing period for monthly and quarterly return is reduced to 30 days from earlier 40 days. Now, the traders who are making arrangements to file GST returns on 10 June for April month, will have to file the return form on or before 31 May. Further, the traders who are to file the return on 10 August on a quarterly basis, have to file it on 30 July.
The traders who make a sale of below Rs. 1.5 crore were eligible to file monthly returns in 40-days span. Similarly, traders with more than Rs. 1.5 crore sale were also eligible for 40 days period.
These traders were eligible to file quarterly return for April, May, June till 10 August. But, with the declaration of GST council, now, for filing GSTR-1 for monthly and quarterly basis is reduced to 30 days.
Obviously, the shorted 10-days is going to create troubles for traders. Many traders are unaware regarding the GST council’s current move. Traders residing in villages always get the information late than traders living in big cities.
This can create the problem in the filing as happened in GSTR-3B filing case, in case of server down and portal breakdown issues, the traders were given the time till 22 May. Even after the extension in the filing period, many traders were not able to file GST return on time.