GSTR1 and GSTR3B Due Date Extended: Only in Some Cases

Due Dates Moved

It’s a sigh of relief for a lot of taxpayers when the Central Government extended the GSTR1 and GSTR3B due date. The Ministry of Finance released a notification on the 10th of September 2018,  which basically states that the date for furnishing the FORM GSRT1  for the time period July 2017- September 2018 has been moved to the 31st of October.

Here we list down the basic provisions of the notification, which due dates have been moved, for which form, and applicable to which all business owners

• FORM GSTR1 for quarters July 2017 – September 2018 for all registered persons with Annual Turnover more than 1.5 Crore Rupees including the registered persons in Kerala, or whose principal place of business is in Kodagu (Karnataka) and Mahe (Puducherry) DUE DATE: 31st October 2018.
• Taxpayers with annual turnover less than or equal to Rs 1.5 Crore, FORM GSTR1, for quarters July 2017- September 2018 DUE DATE: 31st October 2018
• Taxpayers with annual turnover less than or equal to Rs 1.5 Crore registered in Kerala, with their principal place of business in Kodagu (Karnataka) and Mahe (Puducherry), FORM GSTR1, for quarters July 2017- September 2018,  DUE DATE:15th November 2018
• Taxable entities just migrating to GST, Details of outward supplies of goods and services as per form GSTR1 and filing form GSTR3B, Months of July 2017-November 2018, DUE DATE: 31st December 2018

Thus, it is good to know for the taxpayers that the  GSTR1 and GSTR3B due date has been moved. Providing further clarification, the Ministry of Finance stated that in accordance with the provisions of section 16(4) of the CGST Act, 2017, registered persons cannot take input tax credit for any invoices generated after due date of furnishing returns for the month of September or after due date of annual return (whichever is earlier ) after the end  of the financial year to which the invoice pertains. Therefore, to ensure that your input tax-credit does not become time-barred taxpayers should file their returns at the earliest.

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