A glance on the latest scrutiny reveals that 15% of Indore dwellers are filing annual GST return while rest in the city are still struggling to understand new tax compliance legislature. Taxpayers in the city are worried about the fast-approaching due date as well as other complexities of the new tax regime are requesting the authorities for exemptions from filing annual returns of 2017-18.
Small traders are incapable of filing Form 9, 9A and 9C. Looking at their situation Ahilya Chamber of Commerce and Industry goaded to exempt taxpayers from filing the very first year’s returns. Revealed by one of the key professionals in Ahilya Chambers, “Excluding some giant corporates, the fulfilment of the requisites asked in annual returns is near to impossible for small businessmen due to which they are unable to file GST returns. As we are e-filing the monthly returns, the software should automatically assemble the annual return data for taxpayer’s convenience.”
4 lakh registered taxpayers in Madhya Pradesh are capable of compiling annual GST returns which is nearly 15% of the total registered taxpayers in the state, figures revealed by the officials working in state GST department. Complexities in the nature of return filing forms and lack of error rectifying measures are held responsible by the officials for such a situation in the state.
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Some industries want the due date of return filing to extend from current 31st August. They are urging the government to do the needful so that they can get enough time for modifying their returns.
State GST department does not consider it to be a good sign, that only 15% of the registered taxpayers have accurately filed their annual returns on time. Looking at the current scenario, it is estimated that the last date of filing the annual returns may extend.
