Amid the persistent issues with transition credit and GSTR-3B forms, Industry chamber the Confederation of Indian Industry (CII) has said that in view of certain pending issues, the deadline for filing Goods and Services Tax (GST) returns should be further extended by up to a couple of months. The industry body in a release said that this will stabilise the system. It said that the Ministry of Finance has taken cognisance of the initial glitches being faced in online filing of invoices and extended dates for GST returns, CII appreciates such support to the industry and is now requesting for further extension of the deadline to resolve certain system issues.
CII suggested that the form for availing transitional credit, called TRAN-1, allow downloads, preview details, and come with a feature to take print outs to ease reconciliation before submission. This request comes in the backdrop of government officials saying that a large part of the Rs 65,000 crore worth of transitional credits, so far claimed, was ineligible for refunds. It further suggested that GSTR-3B should have a provision for the rounding off of input tax credit to the nearest rupee.
In its other suggestions the industry body said that all modules of GSTN should be activated or enabled to amend core fields in registration to amend particulars of ‘principal place of business’ or to declare ‘additional place of business’ or file refunds.
The government had earlier this month announced a deadline extension for the filing of returns for July and August. The GSTR-1 form for July is to be submitted by September 10 instead of the September 5 decided earlier. The GSTR-2 form for July is to be filed by September 25 instead of September 10. The GSTR-3 form can now be filed by September 30.
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