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Deadline for Filing Sept GST Returns Extended to Oct 25

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The government has extended the last day for filing GSTR-3B returns to October 25 in the backdrop of apprehensions over availing input tax credits for July 2017-March 2018. “In view of the said apprehensions and with a view to give some more time to the trade and industry, the last date for furnishing return in the form GSTR-3B for the month of September 2018 is being extended up to October 25, 2018,” the Central Board of Indirect Taxes and Customs said in a post on Twitter on Sunday. The original deadline was October 20.
Industry has been worried about losing hundreds of crores of rupees in input tax credits due to mismatches in tax payment or reporting by their suppliers, who have time till October 31 to file their GSTR 1. Tax experts said the extension doesn’t really help much because most companies would have filed their returns by October 20. “Since there is no facility for amendment of the return, the companies cannot claim the credit which they might have missed. To provide relief to industry, the government should at least extend the due date till November 20 so that credit can be claimed in October returns. The amount at stake is huge for the industry,” said Pratik Jain, national indirect tax leader at PwC.
“A five-day extension will not help much. Businesses would have appreciated an extension till at least October 31,” said MS Mani, a partner at Deloitte India. ET had reported last week that groups including the Confederation of Indian Industry, Associated Chambers of Commerce and Industry of India and the Institute of Chartered Accountants of India had approached the government for an extension. The Confederation of All India Traders had also made a representation to the government. Industry associations in states such as Madhya Pradesh, which face elections soon, had taken up the issue with the state government.
The government had refrained from extending the deadline on Thursday and clarified that filing of details by suppliers and the facility to view it did not impact the ability of taxpayers to avail of input tax credit. It said Thursday the apprehension that input tax credit can be availed only on the basis of reconciliation between Form GSTR-2A and Form GSTR-3B for September 2018 is “unfounded” as the same exercise can be done thereafter also.

The Economic Times, 22th October 2018

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