The carpet industry in India has been going through very hard times as after the implementation of goods and services tax, there is a decline of 5.58 percent in the exports of the carpets. In comparison with the exports of 2016-17 of 9993.93 crores, this time it could only reach 9436.62 crores in 2017-18 FY.
According to the statistics of Carpet Export Promotion Council, after the implementation of goods and services tax, silk carpets have seen a decline of 44.81 percent while the hand knotted and hand tufted market came down to 5.51 percent and synthetic carpets saw a decline of 2.48 percent.
It is also to be seen that if the government doesn’t relax the provision for the industry in the GST e way bill than there might be more worst time waiting for the carpet industry.
According to the industry person, the carpets are expensive so their demand is less which implies that the industry was already reeling under the lesser demand which further got impacted by the goods and services tax.
The council always makes a target of higher exports and sales up to 10 percent which in turn states that the target could not be achieved even at the last year’s sales. The tension also prevailed earlier which was resolved after the industry turned out some protest against the government.
Read Also: Post-GST Ready-made Garments Exports Face 7.6% Decline
AS A DEALER UNDER COMPOSITE 3B OR GSTR 4 TO BE FILED AS A QUARTERLY RETURN. PRACTICALLY TODAY I AM GOING FOR FILING JANUARY TO MARCH’18 THROUGH 3B, BUT NO OPTION IN MY CASE FOR GIVING QUARTERLY RETURN.I HAVE ALREADY DEPOSITED .5% ON TOTAL TURNOVER AMOUNT 2,75,600/- ,RS1,378/- AS CGST AND .5% AS SGST RS1,378/-
BUT NOT KNOWN TO FILING THROUGH GSTR 4, PLEASE GUIDE ME TO FILE THE SAME.TODAY IS 19TH APRIL’2018 AND TIME IS 11.34PM, ACTUALLY SCHEDULE DATE FOR FILING GSTR 4 IS ON OR BEFORE 18THE APRIL ‘2018 FOR QUARTER ENDING MARCH.PLEASE ADVICE ME AS WELL AS GUIDE ME TO SUBMIT GSTR 4 OR OFFLINE 3B IF SYSTEM ALLOWED.
Since the dealer has opted for composition scheme, only GSTR-4 would be required to be filed by him. GSTR-3B is not applicable in this case. As tax has already been deposited, you can file your GSTR-4 by depositing late fees of Rs.50/- per day of delay.