• Associate Sponsor

Arun Jaitley asks businesses not to wait till last day to file GST returns

Till noon , as many as 18.41 lakh businesses had filed returns for August. Wednesday, being the last day for August GSTR-3B return filing, GSTN has handled over 80,000 returns per hour.

By: PTI | New Delhi | Published: September 20, 2017 6:44 pm
Finance Minister Arun Jaitley, Arun Jaitley news, Indian Economy, government steps to boost economy, Prime Minister Narendra Modi, India news, National news, India news To ease compliance burden, GST Council has allowed businesses to file their initial tax returns in form GSTR-3B in the first six months of GST rollout till December.  (PTI photo)

With 75 per cent of businesses waiting till the last day to file August GST returns, Finance Minister Arun Jaitley today asked them to avoid last-minute rush for tax filing. He said the GST Network (GSTN) has the capacity to handle 1 lakh returns per hour, which translates to 24 lakh returns in a day.

“Today is the last day to pay taxes for August. Till last night, about 25 per cent people had filed the return and paid their taxes. So 75 per cent waited for the last day,” he told reporters after a meeting of the Union Cabinet here. Jaitley said the GST Network had no difficulty to upload returns till last night, but when 75 per cent of businesses throng the portal on a single day, there would be trouble.

“Therefore I would appeal to everybody, it is in their interest (to file returns early),” he said. Since the businesses have a broad idea about the taxes to be paid, they should start filing returns by 14/15th of the next month to have an easy entry into GSTN systems, Jaitley added.

To ease compliance burden, GST Council has allowed businesses to file their initial tax returns in form GSTR-3B in the first six months of GST rollout till December. Accordingly, the GSTR-3B returns would have to be filed by the 20th of the next month, which means August returns need to be uploaded by September 20.

Over 47 lakh GSTR-3B returns were filed for July and the tally is expected to be similar for August. Taxes to the tune of Rs 95,000 crore were collected in the first month of the rollout. Till noon today, as many as 18.41 lakh businesses had filed returns for August. Today being the last day for August GSTR-3B return filing, GSTN has handled over 80,000 returns per hour. GST Network (GSTN) had faced glitches during the GSTR-3B filing for July, which had forced the government to extend the due date for filing of returns.

For all the latest Business News, download Indian Express App

  1. H
    Helios
    Sep 20, 2017 at 11:48 pm
    For service providers there is no tax for export of services, but if its an online service and a part of the audience are Indians then GST is at 18 even if the client is from abroad which in a non taxable territory so we have to pay from our pocket. For export of services we have to still pay 18 tax from our pocked as IGST and claim that as a refund which noone knows when. Why such complex? No tax means no tax, why pay from pocket first and later beg and wait? Paying from pocket is not tax but a pre-destined loss. Huh, poor SME's. What if client delays payment? We have to still pay from pocket, so loss x loss loss square. Expense already chokes and IGST on export of service tightens noose. Please Save God.
    (1)(0)
    Reply
    1. A
      A.Banukumaran
      Sep 20, 2017 at 9:31 pm
      GST returns are confusing and all of the assessee are fearing about lot of entries in gst returns and before that VAT and excise returns are very simple. why this old programe not followed with some correction -
      (2)(0)
      Reply
      1. A
        Abhishek
        Sep 20, 2017 at 9:07 pm
        Why India tax regime is extortion? We spend nearly 13 percent revenue on staff ries. High time goi cut down staff. Compare this with UK where they spend 11 bn pounds on ries against a revenue of 640 bn pounds.
        (0)(0)
        Reply
        1. A
          Abhishek
          Sep 20, 2017 at 9:05 pm
          Why India tax regime is extortion? We spend nearly 13 revenue on staff ries. High time goi cut down staff. Compare this with UK where they spend 11 bn pounds on ries against a revenue of 640 bn pounds.
          (0)(0)
          Reply
          1. N
            name
            Sep 20, 2017 at 8:25 pm
            df /html/ img.50x50 fail.to.load/ hoax/ oops..there is a glitch in my comment. Find your own solution to read it, I can't help.
            (2)(0)
            Reply
            1. Load More Comments
            Adda