Indore (Madhya Pradesh): With just two days left for filing annual GST returns, tax consultants have demanded that the last date be extended till June 30. The tax consultants argued that before filing GST returns the taxpayer has to file income tax returns and the last date of income tax returns is March 15.
AK Lakhotia, president of Madhya Pradesh Tax Law Bar Association (MPTLBA) informed that the last date for filing of GSTR-9 and GSTR 9C for the year 2020-21 is Feb 28, but there are enough reasons to extend the last date. Therefore, MPTLBA and Commercial Tax Practitioners’ Association have given a memorandum to State Goods and Service Tax commissioner Lokesh Kumar Jatav and CGST commissioner Parth Roychoudhary.
Lakhotia said that, under the Income Tax Act for the year 2020-21, the last date for filing audit reports of taxpayers with annual turnover of more than Rs. 2 cr. was February 15, but the last date for filing income tax returns is March 15.
In the same way, before filing the GST return, the businessman has to do all kinds of purchases and sales, reconciliation of ITC, income-expenditure and other necessary information etc. Without reconciliation, the returns can’t be filed. If there has been an error in the past, etc., shown in the GST returns filed during the year, then it can be rectified in the annual return itself, after which there is no other tool available with the businessman in case of error. Otherwise, it is the compulsion for the trader to pay the penalty and interest later. Therefore, all the businessmen, accountants, tax consultants and CAs have been very busy in these affairs and the situation will remain like this till March 15.
In the last 2 months, due to corona infection in the country, many businessmen, accountants, tax consultants and CAs etc. were not able to do work.
Lakhotia said that therefore we have also demanded from the GST Council that the last date for filing GST annual return and audit should always be more than 90 days from the last date for submission of income tax return.
