Punjab Tax Bar Association seeks extension of time for filling income tax & GST returns

Ludhiana, August 21, 2019: Punjab Tax Bar Association has sent representation to Union Finance Minister Nirmla Sitharaman seeking extension of time for filling of Income Tax & GST Returns.

Bal Krishan Gupta President and B.R. Kaushal Secretory General of Punjab Tax Bar Association have sent representation demanding extension in filling of all kinds of Income Tax Returns and GSTR Form 9 , 9A & 9C at least by two months and five month respectively.

They further demanded that the GST Forms should be simplified and be made trader friendly. The Form GSTR-9 (Annual Return) contains total six parts with nineteen tables, the Goods and Services Tax Law being nascent due to subsumption of number of Acts, the obligors are not much equipped with the compliance of byzantine form.

B.R. Kaushal said that a register person (recipient) under the Act is dependent upon the working of the other register person (supplier) as well as the portal, in cases either the supplier fails to file its GSTR-3B & GSTR-1 or files wrong data, the recipient with no fault of him is denied the valid input tax credit, to which he is entitled. Moreover GSTR-9 does not compute the actual liability of the Tax payer even after filing all the columns of the return. The entire Business Community in the country is stuck in reconciling figures between various GST Returns filed and being first year the Taxpayers are facing hardships to reconcile the same.

Bal Krishan Gupta said that Incessant rains wreaked havoc in at least eleven states including Punjab and entire peninsular India. More than 68% of the country is going through hard phase of water logs due to heavy rain and flood. Therefore the Tax payers and professionals are not only finding it difficult, but also endure it impossible to comply with due date for filing ITRs by all Assesse and which has led to tremendous stress amongst Taxpaying Communities in the country. Hence it is requested that the due date for filing of non-audited Income Tax Returns extended up to 31.10.2019 , for the audited Income Tax Returns up to 31.12.2019 and GSTR 9, 9A & 9C 31.01.2020.