Quick Summary
The GST council in its 38th meeting on 18th Dec 2019 had recommended that late fee chargeable on filing of statements of output supplies in Form GSTR-1, be waived for the GSTR-1 pertaining to period July, 2017 to Nov 2019 if the same are filed by 10/01/2020. The response to this waiver has been very encouraging and since announcement on 18.12.2019, 54 lakhs GSTR-1 have gotten filed till 09.01.2020. On average, only about 25 lakh monthly GSTR1s get filed. In the view of such huge response, which would lead reduction in unmatched credit, CBDT has decided to extend the said amnesty scheme from 10th January 2020 to 17th January 2020.
FAQ :
The deadline for the GSTR-1 late fee waiver has been extended to 17th January 2020.
The waiver applies to GSTR-1 statements pertaining to the period from July 2017 to November 2019.
The deadline was extended due to the very encouraging response to the initial waiver, with a significant number of GSTR-1 statements filed.
As of 9th January 2020, 54 lakh GSTR-1 statements had been filed under the waiver scheme.
The scheme aims to encourage the filing of GSTR-1 statements and reduce unmatched credit.
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