Traders couldn’t file returns, demands seeking an extension of the last date
After all, that’s what the businessmen feared. Even after the expiry of the last date, thanks to malfunction of GST portal, merchants with annual turnovers of 1.5 to five crores couldn’t file returns. Troubled traders have sought to increase the deadline. Because if they are doing not, they’ll need to pay a penalty.
There are three categories of traders under GST.
Three categories of merchants registered under GST are created, which include merchants with an annual turnover of 1.5 crores, 50 million, and 50 million. The last date for filing GSTR-3B of quite five crore turnovers has passed on Midsummer Day.
The government extended the deadline for filing returns
Merchants with an annual turnover of 5 crores and above need to deposit GSTR-1 and GSTR-3B monthly. At an equivalent time, merchants with 1.5 crores annual turnover need to fill GSTR-1 quarterly. Sales in GSTR-1 and GSTR-3B need to fill details of both purchases and sales (both). the govt had extended the deadline for filing both these returns in lockdown to 24 June but at the last moment, all the merchants were unable to file returns thanks to the collapse of the portal. Data wasn’t being saved on filing the return. The portal was also taking tons of your time for the OTP to arrive, which was causing difficulties to the traders.
Now up to 5 crore traders need to fill returns
Now quite one and a half crores and up to 5 crores traders need to fill the returns but when the returns of March are being filled, then the late fee is being sought.
Bole, state president of CAT
CAT state president Mahendra Goyal has tweeted and mailed the GST Council demanding that the date of return be extended for traders with a turnover of over five crores once a year in order that there’s no mental harassment of traders.