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Now three lakh returns are often filled in an hour, traders will get relief

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Now three lakh returns are often filled in an hour, traders will get relief

filing returns

Now three lakh returns are often filled in an hour, traders will get relief

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After the Good and Services Tax (GST) was implemented, the portal’s ability to file returns wont to be a serious hurdle. This is often the rationale that a lot of traders were also bereft of filing returns on time. Now the capacity of the portal has been doubled. Meaning three lakh returns are going to be filed in an hour. Earlier there was only the capacity to fill one and a half lakh returns. Now it’s expected to assist traders to fill returns.

The number of traders registered in GST is 75 thousand in Prayagraj. The number of merchants registered in GST is around 1.30 crore across the country. In Prayagraj zone, this figure is about 75 thousand. There are about 45 merchants registered in-state GST and 30 thousand traders in central GST. Traders need to file GSTR-3B, quarterly GSTR-1 and GSTR-9 returns annually. Monthly returns up to 20th and quarterly returns are filed by the 30th. Business organizations were seeking to extend the capacity of the portal

Till now the portal had the capacity to file one and a half lakh returns in an hour. Within the last days, he often answered. Sometimes the server was down and sometimes another problem occurred. Business organizations are demanding from the govt and therefore the GST Council to extend the capacity of the portal. He now hopes to be relieved.

Late fee system should be finished by December
State President of the Confederation of All India Traders (CAT) Mahendra Goyal says that increasing the capacity of the portal will help traders to some extent in filing returns. Sometimes the market closes due to the corona viral infection. Traders also are getting quarantined. During this case, the late fee system should be abolished by 31 December.

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Anurag Srivastva
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