The tax professional and the businessman are against the assessment of the previous cases of 2013-14 intended by the state GST when there was value-added tax (VAT). 20 November is the last date to which the stakeholders see it impossible in accordance with the deadline to complete the assessment.
The businessman and the tax professional suggest that it is not appropriate to send the notice for such an older period via the council. The other thing they said is that the coronavirus and the lockdown is another reason where they were not able to collect the records of their customers as required to file for thor dept for the assessment.
The tax professional with concern to get postpone the deadline has written the letters to the chief minister of Amarinder Singh, financial commissioner (taxation), and excise & taxation commissioner Punjab.
“The PTBA being the parent body of all tax bar associations of Punjab, it is getting calls from all over the state, stating that the tax officials are pressing hard for finalisation of assessments under the Acts up to November 20, on the pretext that the head office has instructed them to complete the assessments without fail. We want to inform the department that as per department rules, only an assessment under sub section (2) or sub section (3) may be made within six years after the date when the annual statement was filed or due to be filed, whichever is later.” said the secretary-general of Punjab Tax Bar Association (PTBA) Bhagat Ram Kaushal.
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“Due date for filing VAT 20 for 2013-14 was first extended up to December 10, 2014, which was further extended up to December 15, meaning that the due date for filing of the annual statement in form VAT 20 was December 15, 2014, and as such the last date for framing assessment automatically gains time up to December 15 and not November 20. Therefore, the state GST department should immediately defer the assessment of the assessments and fix the last date to be December 15,” he added.
“This issue is highly sensitive for the reason that if any assessing authority proceeds to frame assessment considering the last date as November 20 the assessees shall have to deposit 25% of the additional demand for filing appeal against the said pre-assessed assessment order. Keeping in view these facts and legal position, it is requested that the state GST department chief should inform all assessing authorities of Punjab to take the last date of assessment as December 15 instead of November 20,” said Bal Krishan Gupta president of PTBA.
“The move of assessment of old cases which are of the pre-GST era is illogical and considering the facts that industry has been passing through a very bad phase due to coronavirus and lockdowns. Because of these factors it is not feasible to collect all data required from our customers or our end for completing the assessments. The state GST department should therefore either cancel the orders for assessment or defer the deadline till March 31, 2021.” declared Narinder Bharma the president of Fastener Manufacturers Associations of India.
