It has been came to the notice of the Govt. that number of taxpayers were unable to file transitional forms i.e TRAN-1 & TRAN-2 due to technical errors on GST portal, hence the Govt. has re-opened window to furnish Transitional forms. This is very welcome step taken by Govt. benefiting numerous taxpayers, who are badly affected due to very tough implementation of GST in India.
As the financial year 2017-18 closed the taxpayers are finalizing their accounts and the taxpayers require to furnish GST Annual Return & GST Audits by end of December-2018. In this connection taxpayers may have found several mistakes, or they may have not taken several credits and not effected debit/credit notes in the respective GST Returns. Taking note of this fact the Govt. has extended due date of GSTR-1 to 31st October-2018, waived off late fees for the period July-2017 to September-2018. This is very favorable for the taxpayers to effect correct transactions in GST returns.
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