Deadline For Filling Up The Last Date of GST: GSTR-1, GSTR-7
What is GSTR-7: GSTR-7 is the return that has to be filed by the tax deductor about tax deducted at source. Deductor is required to file the return and has to provide the detail of amount of TDS in his return. When deductor pays the amount of TDS, it shall get reflected into the credit ledger of the deductee.
The date for filling the GSTR-1 form has increased. The government extended the deadline for submission of final sale return form GSTR-1 to March 13, two days till April 13. Similarly, the tax deduction (TDS) return on Source for the March was extended to April 12, for filling GSTR-7.
Earlier, the deadline for GSTR-1 was April 11 and the deadline for GSTR-7 was April 10. In a notification, the Central Indirect Tax and Customs Board said in a notification, "The supply of goods and services sent for the month of March 2019 under the Central Freight and Service Rules 2017 or the form of both GSTR-1 details in electronic form through the shared portals. Should be sent on or before April 13, 2019.
The central indirect taxes and customs board (CBIC) gave this information in a notification. The Board has decided to extend the deadline after complaints of companies coming to the trouble of filing returns.
Rajat Mohan, the partner of AMRG and Associates, said that after 20 months of GST implementation, technical flaws are coming out in GSTN. It keeps flaws in compliance with the overall tax structure. GST Council needs to plan 'Plan-B' for better GST compliance network. Under the GST, the e-bill is also being changed. This will prevent tax evasion.
What is GSTR-1: GSTR-1 is a monthly return of outward supplies. Essentially, it is a return showing all the sales transactions of a business.
What is GSTR-7: GSTR-7 is the return that has to be filed by the tax deductor about tax deducted at source. Deductor is required to file the return and has to provide the detail of amount of TDS in his return. When deductor pays the amount of TDS, it shall get reflected into the credit ledger of the deductee.
The date for filling the GSTR-1 form has increased. The government extended the deadline for submission of final sale return form GSTR-1 to March 13, two days till April 13. Similarly, the tax deduction (TDS) return on Source for the March was extended to April 12, for filling GSTR-7.
Earlier, the deadline for GSTR-1 was April 11 and the deadline for GSTR-7 was April 10. In a notification, the Central Indirect Tax and Customs Board said in a notification, "The supply of goods and services sent for the month of March 2019 under the Central Freight and Service Rules 2017 or the form of both GSTR-1 details in electronic form through the shared portals. Should be sent on or before April 13, 2019.
The central indirect taxes and customs board (CBIC) gave this information in a notification. The Board has decided to extend the deadline after complaints of companies coming to the trouble of filing returns.
Rajat Mohan, the partner of AMRG and Associates, said that after 20 months of GST implementation, technical flaws are coming out in GSTN. It keeps flaws in compliance with the overall tax structure. GST Council needs to plan 'Plan-B' for better GST compliance network. Under the GST, the e-bill is also being changed. This will prevent tax evasion.