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GSTR1 filing nosedives after deadline extension

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GSTR1 filing nosedives after deadline extension
The pace of filing goods and services tax (GST) returns under sales, or GSTR1, nosedived on Saturday evening, when the Council in the meeting in Hyderabad decided to give businesses another month till October 10 to do so.
About less than half the expected returns in July had been filed by the earlier deadline of Sunday.
The traffic on the GST Network (GSTN) portal on Saturday declined significantly from 80,000 users an hour to just 17,000 after Union Finance Minister Arun Jaitley announced the extension.
As of Tuesday, about 2.8 million GSTR1 returns were filed.
This is out the 5.95 million registered taxpayers July.
“The pace of filing was robust till announcement of the extension.
It wasasteep decline from that hour. This speaksalot about the mentality to defer things till the last day,” saidagovernment official.
The deadline for filing purchase return, or GSTR2 and GSTR3, which is match of GSTR1 and GSTR2 for July, has been extended to October 31 and November 10 from September 25 and September 30, respectively.
Jaitley had said that the decision to extend the filing date had been taken after the GSTN portal was overloaded twice or thrice.
In the case of GSTR 3B, the summarised return, 74 per cent, or 4.4 million, have been filed.
The government received ~95,000 crore in revenues for July so far.
At the Business Standard GST Round Table earlier this month, Revenue Secretary Hasmukh Adhia had pointed out that there wasatendency among people to postpone work till the last day. “The problem is too many people try to file returns on the last date, despite an extension.
You should be filing returns on time.
My suggestion is, do not panic.
Do not wait for the last day,” he had said. have been reporting issues to invoice matching, claiming credits via Tran1 form, errors in final submission, uploading and invoices among others.
summarised return filing, 3B, which was earlier for two —July and August —has been extended by four months till December.
Aministerial level committee will be constituted to oversee technical and operational issues pertaining to the GSTN.
The panel will comprise three to five state finance ministers to look at traders´ concerns.
The issues faced by companies include the slow response of the GSTN portal, intermittent accessibility of the portal, and errors popping up.
The companies say in some cases, after uploading files, the portal takesafew hours to process them.
The Business standard, New Delhi, 13th September 2017 

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