Centre allows further operational flexibility to GST filers – Times of India

NEW DELHI: The authorities has allowed further flexibility to tax filers working underneath the Quarterly Return Filing and Monthly Payment of Taxes (QRMP) scheme of GST.
These tax filers will now be permitted to declare invoices pertaining to motion of items and providers of their quarterly return type GSTR 1 to be filed within the final month of every quarter.
As per an advisory issued by the Goods and Services Tax Network (GSTN), the taxpayer should make sure that any saved however not Filed/Submitted IFF (Invoice Furnishing Facility) information for the primary two months of the quarter i.e. month of Jan-2021 or Feb-2021 have to be deleted utilizing RESET button earlier than submitting GSTR-1 for Jan-Mar-2021 quarter.
The advisory added that the deleted information needs to be added in GSTR-1 for Jan-Mar-2021 quarter after deleting the saved information from IFF. In future this is probably not required as invoices already saved in any of the months on the quarter could also be both deleted/moved to quarterly GSTR-1 by a performance to be launched shortly.
The advisory additionally mentioned that any submitted however not filed IFF for the month of Jan-2021 or Feb-2021 have to be filed earlier than submitting GSTR-1 for Jan-Mar-2021 quarter.
The advisory has been issued for submitting quarterly GSTR-1 for January – March 2021 underneath QRMP scheme.
The taxpayers underneath QRMP scheme have a facility to file Invoice Furnishing Facility (IFF) in first two months of the quarter and file Form GSTR-1 in third month of the quarter. As IFF is an non-obligatory facility it can’t be filed after the top date (thirteenth of the month succeeding the IFF interval).
The doc saved in IFF, the place taxpayer has not filed by the top date, can’t be filed anymore. Hence taxpayers have a been requested to declare such doc within the GSTR-1 for the quarter.

Source link

#Centre #operational #flexibility #GST #filers #Times #India

Related Articles

Leave a Reply

Stay Connected

- Advertisement -

Latest Articles

%d bloggers like this: