The Federation of Karnataka Chambers of Commerce and Industry (FKCCI) has recently requested the government to extend the due date for the reconciled GST returns for the financial year 2017-18 from September 2018 to December 31, Business Standard reported.
A memorandum in this regard has been submitted to Sushil Kumar Modi, Chairman, Group of Ministers, GSTN and Bihar’s deputy Chief Minister and Finance Minister.
The memorandum, presented by FKCCI President Sudhakar Shetty to Sushil Modi recently, mentioned, “We understand that almost 93 per cent of GST registrants have turnover below ₹5 crore and are classified as small dealers. Option provided for said registrants to submit quarterly return is appreciated”. He also mentioned that the members of the federation have noticed frequent technical glitches in GSTN portal, causing difficulty to submit returns especially during the days before the due date.
On behalf of FKCCI, Shetty suggested to keep two dates for filing GST returns, in particular the GST R3B, will ease the pressure on GSTN portal and to allow taxpayers having turnover more than Rs. 5crore to file their returns on or before 20th of succeeding month as prevailing now. According to him, the taxpayers having turnover below Rs. 5 crore shall be permitted to file returns on 25th of succeeding month.
He has also asked for the draft GST forms for Simplification of Returns.
The President also brought to Chairman’s notice that the due date for reconciling returns filed for the financial year 2017-18 is in September 2018 and requested him to extend the deadline till December 31, 2018. The reconciliation statement and the audit report for 2017-18 should be allowed to be filed on or before December 31, 2018, he said.
After a huge protest from the Tax professionals, the government has, last day extended the due date for filing income tax returns and tax audit reports from September 30th to October.
