Businessmen and traders have to revisit and aligned their return filing system before 1st April. As the government who has delayed the penalty on GST return filing, it will end in April. After the scheduled date, the taxpayers and businessman have to pay penalty for the late fees.
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At the present time, a penalty of 25 rupees per day is lodged on late submission of returns. But after the planned date, the penalty will be increased to 100 rupees per day.
The chairman of Confederation of All India Traders, Praveen Khandelwal has said, that before taking this step, the government should be revised the return filing system. Because even now, while returning the return, businessmen and traders still face lots of problems.
The government should look at all the aspects before taking the decision, as it will affect taxpayers and traders. According to the sources from the finance ministry, from 1st April the return filing will be done with all the rules and regulation of the policy.
