CBIC Important Announcement about Filing GST Returns

CBIC Important Announcement about Filing GST Returns The Central Board of Indirect Taxes & Customs (CBIC) significant announcement regarding the …

Naman Sharma

Nov 9, 2022

Last update on Nov 9, 2022

CBIC Important Announcement about Filing GST Returns The Central Board of Indirect Taxes & Customs (CBIC) significant announcement regarding the submission of GST Returns. The process for filing returns has undergone the following significant changes: 1. Taxpayers need to file previous tax periods GSTR-1 before filing current period GSTR-1. 2. GSTR-1 for the current period need to be filed before filing GSTR-3B for the said tax period.

What is FORM GSTR-1?

FORM GSTR-1 is a statement of outward supplies which is filed: (i) On Quarterly basis by QRMP taxpayers (ii) On Monthly basis by other taxpayers

When should you file FORM GSTR-1?

(i) All taxpayers (other than QRMP taxpayers) must file FORM GSTR-1 every month on or before 11th of the next month. (ii) QRMP taxpayers, have to file quarterly FORM GSTR-1 by the 13th of the month following the relevant quarter. Please see Sections 37(4) and 39(10) of the CGST Act 2017 in conjunction with Notification No. 18/2022- Central Tax, dated September 28, 2022, and GSTN Advisory, dated October 21, 2022, for additional information. *Late filing of GSTR-1 will attract late fee

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