The COVID 19 pandemic has been to a great extent problematic to the development of India. With an ever-expanding Covid cases, lockdown was considered as a lone answer for smooth the bend. In any case, the measures which were executed to evade a human debacle, have thus prompted the introduction of a few issues, for example, unemployment, recession, hindrance to economic growth, financial instability and so on.

Due to the emerging financial distress faced by most people on account of the large-scale economic distress caused by COVID 19, the Government of India had extended the due dates of various provisions to provide relief in the current pandemic situation. The Union Finance and Corporate Affairs Minister Smt. Nirmala Sitharaman announced several important relief measures taken by the Government of India in view of COVID-19 outbreak, especially on statutory and regulatory compliance matters related to several areas of Income Tax, GST, Customs and Corporate Affairs.

The Central Board of Indirect Taxes and Customs (CBIC) is a piece of the Department of Revenue under the Ministry of Finance, Government of India. It manages the undertakings of definition of strategy concerning toll and assortment of Customs, Central Excise obligations, Central Goods and Services Tax and IGST, anticipation of sneaking and organization of issues identifying with Customs, Central Excise, Central Goods and Services Tax, IGST and Narcotics to the degree under CBIC's domain. On fifteenth October, CBIC concocted the different notices for endorsing the due dates for recording GSTR 1.

What is GSTR 1?

GSTR-1 is a monthly or quarterly return that should be filed by every registered dealer. It contains details of all outward supplies i.e sales.GSTR 1 once filed cannot be revised. Any mistake made in the return can be rectified in the next periods (month/quarter) return. It means that if a mistake is made in May GSTR-1, rectification for the same can be made in June’s GSTR-1.

Who is required to file GSTR 1?

All the registered taxpayers are required to file GSTR 1, except:

1. Input Service Distributors
2. Composition Dealers
3. Non-resident Taxable Person
4. Taxpayers liable to collect TCS
5. Taxpayers liable to deduct TDS
6. Suppliers of OIDAR (Online Information and Database Access or Retrieval)

What is the due date for furnishing GSTR 1 as prescribed by CBIC?

CBIC notified that the registered persons having aggregate turnover of up to Rs 1.5 crore in the preceding financial year or the current financial year, can file their GSTR 1 as per the due date mentioned below:

CBIC also notified the time-limit for furnishing the details of outward supplies in GSTR-1 by registered persons having aggregate turnover of more than Rs 1.5 crore in the preceding financial year or the current financial year as follows:

What do you mean by late fees under GST?

• Every registered person under GST is required to file monthly or quarterly return and annual return within the due date depending upon the type of the taxpayer status.
• However, if such a taxpayer fails to pay tax or file returns within the prescribed due date, he shall have to pay late fee along with interest on the late payment of GST.
• Such a fee is charged for each day during which such a failure continues on the part of the registered taxpayer after the due date to file returns.
• Late fees are also applicable on NIL Returns.

Is any late fee leviable if GSTR 1 is not filed within the due dates mentioned above?

Section 47 of the CGST Act pertains to levy of late fees under GST. According to Section 47(1), Anyregistered person who fails to furnish the details of outward or inward supplies requiredunder section 37 or section 38 or returns required under section 39 or section 45 by the due dateshall pay a late fee of Rs 200 (Rs 100 under CGST and Rs 100 under SGST/UTGST) for every dayduring which such failure continues subject to a maximum amount of Rs 5000

Therefore, if any taxpayer does not file GSTR 1 by the due dates mentioned above, he/she will be liable to pay late fees of Rs 200 (Rs 100 under CGST and Rs 100 under SGST/UTGST) for every day during which such failure continues subject to a maximum amount of Rs 5000.

It is also important to remember that, if the registered taxpayer fails to file NIL Return on or before the due date, he shall be liable to pay late fees of Rs 50 for every day during which such failure continues under CGST Act. Similar provisions exist under the SGST Act, 2017. Thus, a late fee of Rs.100 per day (Rs. 50 under CGST law + Rs. 50 under State / Union Territory GST law) would be levied as per CGST Act, 2017 and State / Union Territory GST Act, 2017.