09/2024-Central Tax — Seeks to extend the due date for filing of FORM GSTR-1, for the month of March 2024
Summary
notification 09/2024, released on April 12, 2024, by the Central Board of Indirect Taxes and Customs (CBIC), provides some breathing room for businesses when filing their GSTR-1 for March 2024. Essentially, this notification extends the deadline for submitting Form GSTR-1, which details all outward supplies (sales) made during the month.
This is particularly relevant for registered taxpayers whose aggregate turnover exceeded ₹1.5 crore in the preceding financial year or the current financial year. Normally, the due date for filing GSTR-1 is the 11th of the following month. However, this notification extends that deadline by a few days.
Specifically, the new deadline to file your GSTR-1 for March 2024 is now April 13, 2024. Therefore, if you haven't already filed your GSTR-1 for March 2024 and your turnover exceeds ₹1.5 crore, you must ensure you do so by April 13, 2024. Failure to file by this extended deadline may result in late fees and other penalties, as per GST regulations. This extension provides a small window for businesses to accurately reconcile their sales data and comply with the GST requirements for the month of March.
Key Changes
| Change | Impact |
|---|---|
| Extension of GSTR-1 Due Date | Provides taxpayers with additional time to file their GSTR-1 for March 2024, potentially reducing late filing penalties and allowing for more accurate reporting. |
| Applicability to March 2024 Tax Period | Specifically targets the GSTR-1 filing deadline for the month of March 2024, offering relief for businesses dealing with end-of-financial-year reconciliations. |
| Central Tax Notification | Issued under the Central Goods and Services Tax Act, indicating its applicability across India and enforcement by central tax authorities. |