GSTR1 GST Late Fees waiver scheme
It has been observed that the number of taxpayers who have filed FORM GSTR-3B is substantially higher than the number of taxpayers who have furnished FORM GSTR-1. GSTR1 GST late fees waiver scheme has been introduced by finance minister on Monday. It object to promote tax payers in filing GST return GSTR1 GST late fees waiver scheme announced by Notification no. Notification Nos. 43 and 44/2018 – Central Tax dated 10th September, 2018. Return filing period covered under scheme is July 2017 to March 2018 due date for filing is 31 October 2018.
This GSTR 1 Late fees waiver scheme shall be applicable to persons having turnover above 1.5 Crore including persons registered under Kerala or whose principal place of business is in Kodagu (Karnataka) and Mahe (Puducherry).
Example : – A Ltd company which deals in supply of Inverter having turnover Rs. 15 Cr. Company not filed GSTR1 for period of July 2017 to August 2018 hence company can take benefit of scheme and file GSTR1 return before 31 October 2018 to save late filing fees.
GSTR1 Filing Due Dates GSTR1 GST Late Fees waiver scheme
|S.No.||Month||latest Date to File return||Late Fees|
|1||Jul-17||31 October 2018||Zero|
|2||Aug-17||31 October 2018||Zero|
|3||Sep-17||31 October 2018||Zero|
|4||Oct-17||31 October 2018||Zero|
|5||Nov-17||31 October 2018||Zero|
|6||Dec-17||31 October 2018||Zero|
|7||Jan-18||31 October 2018||Zero|
|8||Feb-18||31 October 2018||Zero|
|9||Mar-18||31 October 2018||Zero|
|10||Apr-18||31 October 2018||Zero|
|11||May-18||31 October 2018||Zero|
|12||Jun-18||31 October 2018||Zero|
|13||Jul-18||31 October 2018||Zero|
|14||Aug-18||31 October 2018||Zero|
|15||Sep-18||31 October 2018||Zero|
GST late Fees Waiver Notification Notification No. 44/2018 – Central Tax
hereby extends the time limit for furnishing the details of outward supplies in FORM GSTR-1 of the Central Goods and Services Tax Rules, 2017, by such class of registered persons having aggregate turnover of more than 1.5 crore rupees in the preceding financial year or the current financial year, for the months from July, 2017 to September, 2018 till the 31st day of October, 2018 and for the months from October, 2018 to March, 2019 till the eleventh day of the succeeding month: Provided that the time limit for furnishing the details of outward supplies in FORM GSTR-1 for the months from July, 2017 to November, 2018 for the taxpayers who have obtained Goods and Services Tax Identification Number (GSTIN) in terms of notification No. 31/2018 – Central Tax dated 6th August, 2018 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R 742 (E), dated the 6th August, 2018, shall be extended till the 31st day of December, 2018.