MSMEs Requests Govt for the Due Date Extension of I-T & GST Payment

The various groups and stakeholders of The Micro Small and Medium-scale Enterprises (MSMEs) have requested the State Government to further request the Union Government to extend the deadline of payment of GST Check out due dates of payment under GST for general and composition taxpayers in India. We have included penalty charges on late payment with interest this month and the next month.

On behalf of the State Government, the Commercial Taxes and Registration Minister P. Moorthy held a meeting in Coimbatore on Monday with the members of the trade and industry.

The trade and industry representatives of the MSMEs commented that it is virtually impossible for the MSMEs to pay GST and the Income Tax both to make payment of the aforesaid taxes before the due dates of July/August. Consequently, the Coimbatore District Small Industries Association submitted to the aforesaid minister Shri P. Moorthy that

• The last date for the payment of the taxes both GST and Income Tax should be extended
• Furthermore, The late fee that is applicable on the delayed filing of the GSTR 1 The complete guide for online filing GSTR 1 form in a very easy and step by step manner. We have explained its part 1 to part 13 with the original form screenshots must be waived off
• Both the components, the Interest and the penalty on the GST due dates during the month of April 2021 to July 2021 must be completely waived off

The president of the Coimbatore District Small Industries Association MV Ramesh Babu said that the GST refunds pending should be paid immediately and a centralized counter must be opened to tackle all the communications that are related to refund, grievances, and so on.

The Indian Chamber of Commerce and Industry, Coimbatore, commented that the threshold limit for the registration of those MSMEs which deal only in the supply of services or those that deal in both the Goods and Services ought to be increased to Rs 40 lakhs.

Moreover, the Federation of the Coimbatore Industrial Associations commented that in the past engineering jobs were exempted from the Value Added Tax, but now the above-mentioned units have to pay 12% GST. Consequently, this has resulted in the cash crunch for the aforesaid micro-units. And so the rate of tax should be decreased to 5%.

Furthermore, the Coimbatore and the Tirupur District Micro and the Cottage Entrepreneurs Association commented that the pre-condition that the receiver of the goods cannot claim the Input Tax Credit (ITC) if the sellers do not file the details of the monthly data ought to be set right.