Only 20% of Visakhapatnam Traders have filed central goods and services tax (CGST) returns till the date and 80% of them need to urgently file the returns before the due date of 31st August 2019.
The due dates for filing GST returns have been extended many times due to the complexities and cumbersome process involved in it and finally, 31st August 2019 was concluded to be the deadline which will stand its ground.
The eyelids of CGST officials have turned towards the total GSTR filings in the largest city and the financial capital of Andhra Pradesh i.e. Visakhapatnam. And the conclusion came out to be quite awful when it was encountered that only 20% of traders have filed the GST returns and 80% are yet left to file when only a fortnight is remaining to touch the time limit.
The target of Rs 58,222 crore which was fixed for Andhra Pradesh for 2018-19 is going skimpy with the total collection of just Rs 16,037 till July 2019.
As the taxpayers were delaying the filing process and involving in the process of illegitimately claiming bogus ITC & not passing on the benefits to the consumers, the stringent rules for curbing such unlawful practices were already framed.
Now the heavy penalty is imposable on late filing of GSTRs and illegitimate acts such as ITC scams, use of ITC as working capital & holding GST amassed from consumers may get the defaulters behind bars.
“All taxpayers should file their GST returns for 2017-18 by August 31, else they would face severe consequences, including a hefty penalty,” said chief commissioner of Customs and CGST, Visakhapatnam Zone, Naresh Penumaka.
He also added, “Traders should also issue a bill collecting GST as per the reduction affected by the GST Council from time to time”.
The chief commissioner turned down that the burdensome & baffling filing process is the reason behind deficiency and delay in GSTRs return filing. He called attention to the fact that at the national level, the compliance rate is 90% whereas, at the state level, it is just 70%. According to him, some of the traders deliberately delay in making payment.
The commissioner also notified that the due dates for GSTR filing will not be postponed further so the traders who are yet left to file the returns, must approach the closest central excise official for filing GSTRs ASAP.
It is high time when the taxpayers should start approaching the close at hand office for Central Exercise because this time the due date of 31st August is inevitable, so if the taxpayers get a delay in filing returns before that, they will end up paying heavy penalties for late GSTRs filings.
The rules this time are quite strict so the taxpayers should take a simple path & comply with the government rules & regulations if they do not want to be imprisoned.
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