Ahmedabad: Gujarat Chamber of Commerce and Industry (GCCI) has requested an extension to submit GSTR-1 returns for October in view of Diwali next week from Union Finance Minister Nirmala Sitharaman.
“The business activities in many states such as Gujarat will restart only after “muhurat” on the day of Labh Pancham, i.e., the fifth day from Diwali. Business activities will remain almost suspended until then. This year, the festival is on November 4, thereby, leaving little time for businesses to file their GSTR-1 return on time after they reopen post-Diwali,” wrote GCCI president Hemant Shah seeking time till November 30 to file the returns.
He added it is a cause of concern for businesses as any delay in filing GSTR-1 within the deadline would attract a late fee and consequently, would have the effect of denying the input tax credit to the recipients.
GSTR-1 is a monthly statement of outward supplies to be furnished by all registered taxpayers making outward supplies of goods and services. This form needs to be filed even if there are no business activities.
