GST FAQS

1.No further extension will be given to taxpayers for filing their GSTR-1 return for July 2017 for which last date is 10th Oct. ,2017

2.Taxpayers who have not yet filed their GSTR-1 for July 2017 are advised to do so immediately.

3.If a taxpayer does not file GSTR-1 by 10th of October, then his buyer may face difficulty in availing ITC of the tax paid on his supplies.

4.It is therefore advised that all suppliers of goods/services, esp B2B suppliers, furnish their outward supply details in GSTR-1 by due date.

5.Once a taxpayer files GSTR-1 by 10th October, the corresponding entries in GSTR-2A of his buyer shall get auto populated.

6.The buyer shall finalize his GSTR-2 after making modifications (additions, corrections or deletions), if required, in GSTR-2A.

7.The Input Tax Credit (ITC) shall be availed by the buyer based on his GSTR-2.

---------------------------------------------------

Click here for more : TAX CORNER

---------------------------------------------------