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Tax practitioners look for some more time for GST returns filing

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New Delhi – The tax practitioners have requested the government to offer some more time for tax return filing and invoice generating for July. This is the first tax return filing since the launch of GST. The businesses and the tax practitioners are still trying their best to get adjusted with the uniformed indirect tax.

Many firms have been fortunate enough to file the return without any error. However, many are not as fortunate, and they have faced difficulties during the last couple of days before the extended deadline to pay the tax. The government has decided to extend the tax filing date for the month of July to 25th August.

Tax payers who looked for a tax credit for the tax amount paid before 1st of July have got time up to 28th August. However, the task of tax remission would have to take place by August 25th. You would have to consider the eligibility of claiming a tax credit.

On Friday by 2 pm, over 2 million people had filed a tax return on GSTN portal, a close source said. However, this is just a small number of the total taxpayers who have registered for GST number. On 1st August almost 7.2 million taxpayers have migrated under GST from VAT. In addition to this, more than 1 million new taxpayers have registered for GST too.

The taxpayers have faced difficulties at the time of filing for GST. The paid tax amount not reflecting on the wallet was one of the issues that the taxpayers faced. The small utility is another matter that the taxpayers faced.

PwC India’s partner and leader of indirect tax practice Pratik Jain said that keeping in mind the problems that the taxpayers are facing, the deadline for tax return filing should be extended.

Deloitte’s senior director R. Muralidharan said that the people are able to file the return. Some of the people had some issues at the initial stage including the tax amount not showing in given time.

GSTN has requested the taxpayers to file the return before tax filing deadline. This precaution is to avoid the technical errors which some of the taxpayers have faced. GSTN has stated that uploading the invoice is not a difficult task and the taxpayers should be able to perform this early just to avoid the problems that taxpayers have faced these past few days.

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Jatin Aggarwal
A guy from the family of commerce background. Having practical experience in the field of taxation, accounting, corporate laws. He is a commerce graduate and pursuing CA (Final). Jatin is responsible for exclusive interviews and opinion based articles about the GST.

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