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GSTR-1 March 2024 : Filing Deadline Extended to April 12, 2024
Under the present GST regime, timely and error-free returns are important for businesses to remain GST compliant. The Goods and Services Tax (GST) regime in India mandates various forms for businesses registered under GST . These include returns such as GSTR1, GSTR 3B, GSTR 9, etc. Among these forms, GSTR 1 is a very important return for taxpayers.
In a recent announcement by GSTN , the March 2024 GSTR-1 filing deadline was extended to April 12, 2024, providing much-needed additional time for businesses facing trouble in the filing of GSTR1 Returns
Overview of GSTR-1 Filing
GSTR-1 is a monthly or quarterly return that contains details of outward supplies including sales and invoice wise details being reported. Not only the taxpayer to reports their sales through GSTR 1, but also for the recipient point of view ,timely filing of GSTR 1 helps in availing input tax credit.
GSTR 1 Filing Extension
Why was the due date extended?
Since Wednesday the GST Portal was displaying a slow response time on the submission of return data. Later on GSTN reported a technical glitch failing to submit returns
Understanding the situation faced by the taxpayers, GSTN has announced the extension of Due dates for Filing GSTR1 Monthly Returns for March 2024 to April 12, 2024.
Benefits of Deadline Extention
The step to extend the due date came as a relief for the taxpayers. The extension has helped them escape the burden of late fees on account of non-submission of returns. The additional time provided for GSTR1 Filing will enable to file the returns accurately and also avoid late fees
Remember, timely compliance with GST regulations is crucial. This gstr 1 filing extension provides much-needed relief for taxpayers impacted by technical glitches.
Stay updated, and ensure smooth filing processes to meet your GST obligations without added stress. For assistance on GST Related services, professional consultation, or guidance on business registrations, drop a mail at info@cleabiz.in or visit us at www.clearbiz.in or Call 700 49 111 51