The government on Wednesday clarified that there was no extension granted for filing outward sales return (GSTR-1) under the goods and services tax (GST) as the deadline ends at midnight on January 10. The clarification came in the wake of confusion created by a fake notification circulating on social media, which suggested the government had granted a five-day extension for filing returns.
“Taxpayers may note that there is a fake notification regarding extension of date being circulated on social media. No extension of the last date for filing of GSTR-1 has been given,” the government said in a statement.
At the time of going to press, the GST Network (GSTN) had not released any interim information on filing trends. GSTN is a non-government, private limited company that has built the IT backbone for the new indirect tax regime.Taxpayers with turnover of less than Rs 1.5 crore, which constitutes over 90% of the nearly 1 crore registered assessees, are required to file GSTR-1 for July-September period. The remaining assessees are mandated to file the same for July-November period.
The original schedule for filing GSTR-1 and GSTR-2 (purchase return) for July was in October but the GST Council has since granted multiple extensions owing to a vulnerable IT system and complaints from taxpayers regarding increased compliance burden. At the end of the original deadline, only about 47 lakh assessees had filed GSTR-1 and 12 lakh filed GSTR-2.
Source : Financial Express