GSTR-1 due date for quarterly fillers revised to 13th of month succeeding quarter

GSTR-1 due date for quarterly fillers revised to 13th of month succeeding quarter Due date of furnishing quarterly GSTR-1 by quarterly taxpayers to be revised to 13th of the month succeeding the quarter w.e.f. 01.1.2021; This was done to ensure: (i) allow taxpayer, time to view the ITC available in his electronic credit ledger from all sources i.e. domestic supplies, imports, and payments on reverse charge, etc. prior to the due date for payment of tax, and (ii) enable the system to auto-populate return (GSTR-3B) through the data filed by the taxpayer and all his suppliers. In other words, the timely filing of the GSTR-1 statement alone would be sufficient as the return in FORM GSTR-3B would get auto prepared on the common portal. These decisions were taken in the 42nd GST Council meeting, which was held on 05/10/2020. It was chaired by our Hon'ble Finance Minister Smt. Nirmala Sitaraman. The meeting was also attended by MOS Shri. Anurag Thakur besides Finance Ministers of States & UTs and Senior officers from Union Government & States.

GST 42nd Council Meeting Updates

https://www.youtube.com/watch?v=Y68C-lsEetk&feature=youtu.be