Business Standard

GSTR1 FILING NOSEDIVES AFTER DEADLINE EXTENSION

- DILASHA SETH

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 of the 5.95 million registered taxpayers for July. “The pace of filing was robust till the announceme­nt of the extension. It was a steep decline from that hour. This speaks a 4.4 million, have been filed. lot about the mentality to defer things till The government received the last day,” said a government official. ~95,000 crore in revenues for July so far.

The deadline for filing purchase At the Business Standard GST Round return, or GSTR-2 and GSTR-3, which is Table earlier this month, Revenue match of GSTR-1 and GSTR-2 for July, has Secretary Hasmukh Adhia had pointed been extended to October 31 and out that there was a tendency among November 10 from September 25 and people to postpone work till the last day. September 30, respective­ly. “The problem is too many people try to

Jaitley had said that the decision to file returns on the last date, despite an extend the filing date had been taken after extension. You should be filing returns the GSTN portal was overloaded twice or on time. My suggestion is, do not panic. thrice. In the case of GSTR 3B, the summarised­Do not wait return,for the last 74 day,” per he cent,had said. or

Traders have been reporting issues related to invoice matching, claiming transition credits via Tran1 form, errors in making final submission, uploading returns, and invoices among others.

The summarised return filing, GSTR 3B, which was earlier for two months — July and August — has been extended by four months till December.

A ministeria­l-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 takes a few hours to process them.

 ?? ILLUSTRATI­ON: AJAY MOHANTY ??
ILLUSTRATI­ON: AJAY MOHANTY
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 ?? Source: PTI ??
Source: PTI

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