No More Extra time For Return Filing of GST R 1.

No More Extra time - GST R 1.

No More Extra time For Return Filing of GST R 1. Today Finance Minister clarify that o more extension for filing of GST R 1. Today 10th January 2018 is a last day for filing of GST R 1. Many tax payers not filed GST R 1 yet. And they try for filing the same.

GST R 1 is details of sale transaction of Traders. In this return all sale transaction details mention bill wise. And also update Buyers GSTN no. So that they can claim input GST.  

Total Turnover is less than 1.5 Cr. for the period 2017-18 then file return with details of sale from July to September month only. And if Total turnover is more than 1.5 Cr, Then File returns with details of sale for the period of July to November. 

If Return not filed within given time then pay late fine of Rs. 100/- Per day. So it is 100 under CGST & 100 under SGST. Total will be Rs. 200/day. The maximum is Rs. 5,000. There is no late fee on IGST in case of delayed filing.