The Chamber of Commerce and Industry, Thanjavur, has urged the government to extend the time limit for filing of tax returns for businesses and industries.
In a memorandum addressed to the Prime Minister, Union Finance Minister, the Chairman, Central Board of Direct Taxes and the GST Council, the office-bearers of CCI, Thanjavur has claimed that many businesses were yet to become fully functional and were on the recovery path with Government support.
In this scenario, fixing a date for non-productive and control-oriented compliances pressurises the already stressed business/industry taxpaying community. Hence, the organisation has pleaded that the time limit for filing of returns for the financial year 2019-20 be extended like the time limit concession extended till November 30, 2019 for filing of returns for the financial year 2018-19 by the government.
Claiming that furnishing of particulars for the assessment of the financial year 2017-18 had put pressure on the taxpayers and their representatives, the organisation sought the postponing or waiving of all non-revenue productive and man-hours consuming compliances such as GSTR9 or GSTR9C.
Waiving or extending time limit for control-oriented submissions would not bring any loss to the government revenue, it added.
Hence, the Chamber pleaded that considering the impact on the business/industry the due dates for filing of income tax returns for the financial year be extended up to November 30 this year, due dates for filing of GSTR9, GSTR-9C (regular dealers) and GSTR-4 (composition dealer) for the financial years 2018-19 and 2019-20 be postponed and necessary amendments to the filing of GST Revised Returns (GSTR-3B and GSTR-1 for regular dealers and CMP-08 for composition dealers).
