Business/Economy

Honda and Maruti recorded immense growth in PVs

Honda and Maruti recorded immense growth in PVs

The Centre has decided to extend the last date for filing of final sales return GSTR-1 by 10 days till January 10 under the Goods and Services Tax (GST). Now, businesses which have a turnover of up to Rs. 1.5 crore will have to file GSTR-1 for July to September segment by January 10 of the New Year, as against December 31, 2017, earlier.

Also, for businesses with a turnover of over Rs. 1.5 crores, GSTR-1 needs to be filed for the period July to November by January 10. Earlier, these same businesses were required to file GSTR-1 return for July-October by the last date of December and that for November by January 10.

Moreover, for the month of December, GSTR-1 has to be filed by February 10 and for subsequent months, it needs to be done on the 10th day of the succeeding month.

The GST Council in November allowed businesses with a turnover of up to Rs. 1.5 crore to file their final returns GSTR-1 quarterly. Additionally, businesses with a turnover of up to Rs. 1.5 crore will have to file returns by 15th of February for the period October to December and that for January to March by April 30.