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GST Return: Dealers bat for reforms - GST Station

GST Return: Dealers bat for reforms

GST Return: Dealers bat for reforms

    INDORE: Extension in due date for filing GST annual returns in the wake of crawling response has failed to cheer stakeholders claiming extension is not a solution but a complete waiver for 2017/18 yearly returns or thorough restructuring of form to make it friendly. The last date for filing annual GST returns has been extended by three months to Nov 30 from August 31 citing technical issues faced by tax payers in furnishing returns, stated finance ministry.

    In Madhya Pradesh out of about four lakh registered dealers under GST, less than 20 per cent from state have filed yearly returns till date while less than 2 per cent have filed audited GSTR-9C, according to officials, industry chambers and tax practitioners associations. 

    Ahilya Chamber of Commerce and Industry general secretary Sushil Sureka said, “How can extension in due date be a solution when no one is able to understand the format and produce documents to file returns. A minimal percentage may certainly increase by extension but still desired results will not come.”

    Ahilya Chamber of Commerce and Industry, MP Tax Law Bar Association, Institute of Chartered Accountants of India (ICAI), Indore chapter and Malwa Chamber of Commerce said complexity and confusion in filing yearly return will lead to automated notices from the department to tax payers and hefty penalties. They added that return forms should be simplified by incorporating suggestions from trade, industry and tax consultant bodies. Sureka said, “Annual return for FY 2017-18 should be waived as there will be hardly any revenue impact because taxpayers have already deposited taxes on a monthly and quarterly basis and the annual return is just a compilation of data.”

    Source- Times of India.