Due Date to file GSTR 1 is 10th Jan 2020 to avoid Late Fee.
All GST register person has to file GSRT 3B and GSTR 1. GSTR 3B is for monthly cumulative sale and payments of taxes whereas GSTR 1 is file bill wise details return and all issued invoice to vendor/ party on monthly or quarterly basis.
If Registered GST business person does not file GSTR 1 on or before 10th Jan 2020, they have to face following business challenge:
- E way Bill: They are not able to generate E-Way Bill
- Penalty: GST register person has to pay penalty for non filing GSTR 1 and maximum penalty will be Rs 10,000 per month.
- Input Credit: You will be eligible for GST input only for those purchased bill by you if your supplier has file GSTR 1 on or before 10th Jan 2020.