Tiruchirapalli

‘Extend time limit for filing tax returns’

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).

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Printable version | May 12, 2021 2:38:56 PM | https://www.thehindu.com/news/cities/Tiruchirapalli/extend-time-limit-for-filing-tax-returns/article34272655.ece

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