the goan I network
PANAJI
Besides, filing GST returns has turned out to be an extremely time consuming process, increasing the burden on businessmen.
Filing a regular GST return is a three step process under which three forms have to be filed - GSTR 1 (deadline - October 10), GSTR 2 (deadline - October 20) and GSTR 3 (deadline - October 30).
GSTR 1 is for sales of a business. GSTR 2 is for purchases and GSTR 3 is comprehensive return. Earlier, the deadline for filing these three forms was in September, but owing to several issues faced by the people, the central government pushed the deadline to October.
Rajendra Narvekar, president, All Goa Tax Practitioners Association, said, "There are still glitches in the GST website. Often, the website shows error, when we upload a Trans-1 Form. In cases, when an invoice has two or more GST rates, then the system takes only the first rate and not the other rates."
Trans-1 Form is to take input tax credit for stocks held by businesses on June 30, which was just a day before the rollout of GST.
Chartered accountant Sandip Bhandare said, "The central government has issued an official circular saying that cases where people have filed Trans-1 Form to carry forward input-tax-credit should be investigated more thoroughly. The government is of the view that a very high amount of input-tax-credit has been carried forward."
This shows a trust deficit between the government and the tax-payers. The tax-payers, in turn, are still lacking confidence in the overall GST system.
A source said, "GSTR-1 is to be filed for sales. One business's sales are another business's purchases. GSTR-2 is for purchases, which should be automatically filled. But, it remains to be seen whether it will happen or not by October 20, which is the deadline for GSTR-2."
Meanwhile, the deadline for filing simplified GST return for August is September 20.
Sources revealed that the process to file simplified return is going on smoothly. But, the process to file regular and more comprehensive return for July is still riddled with glitches.
Filing regular GST returns for July still not easy: Businessmen
A number of tax experts and businessmen have confirmed that they are still finding it difficult to file regular Goods-and-Services-Tax (GST) return for July even though the central government has postponed the deadline for the same several times.
