FreeCurrencyRates.com

इंडियन आवाज़     26 Sep 2017 09:04:45      انڈین آواز
Ad

CAIT DEMANDS WAIVER OF PENALTY UNDER GST

RECENT EXPERIENCE CAST DOUBT ON GST PORTAL EFFICIENCY

AMN / NEW DELHI

The Confederation of All India Traders (CAIT) has called upon the Government to waive off penalty being charged on late filing of GSTR Form 3B which is summary return for the month of July.

GST 2CAIT President B.C.Bhartia & Secretary General Praveen Khandelwal said that assuming such scenario, the Finance Minister had announced taking lenient view for procedural lapses in initial months of implementation of GST.

It is creditable that in the first month of its implementation, GST has fetched a revenue of about Rs. 93 thousand crores of rupees with about 65% business entities registered with GSTN portal. Though last date of filing GSTR Form 3B designed to furnish summary returns of transactions made in the month of July has already expired on 28th August but it is expected that remaining lot will file the return after paying penalty of Rs.100 per day with a maximum penalty limit of Rs.5,000 only-said the trade leaders.

The increase in GST revenue shows that traders across Country have adopted GST even though lot many technical glitches with GSTN portal and this could be one of the reason for non filing of July summary return by majority of remaining people.

In view of the same, the CAIT has urged Union Finance Minister Shri Arun Jaitley to waive off the penalty at lease for July and August GST returns. Any penalty clause at this point of time will be counter productive to GST adoption among trading community.

However,the recent experience of the traders with GSTN portal with regard to filing of GST Form 3B was not at all good and landed traders across Country in great trouble even for accessing the portal. The CAIT has asked the Government to ensure smooth functioning of GSTN portal at least to the extent that there should not be any login issue and to ensure that the portal works in a cohesive manner providing ease to Traders in complying with their tax compliance timely.

It is important to note that only a small section of about 80 lakh business entities registered with GSTN were trying to use the portal for filing very limited data, which was either inaccessible or showing errors or could not get the Form or Challan downloaded, keep the traders in a fix. In month of September, the portal has to take care of more than 3 billion vouchers which is certainly a gigantic task since each traders has to upload Invoice wise details on the basis of which the portal will prepare purchase statement of each entity which will be verified by the traders and thereupon tax liability will be derived after adjusting input credit.In case the system do not respond as happened last week, the entire GST eco system will come to a halt. Therefore, keeping in view of the crucial aspect of the issue, the Government must come forward to conducting a technology audit of GSTN portal.

Leave a Reply

You have to agree to the comment policy.

Ad
Ad
Ad
Ad

SPORTS

Indian Wrestler Bajrang wins gold

Ashgabat Indians got four medals, including a gold through wrestler Bajrang, on the ninth day of the 5th Asia ...

Saksham Pedal Delhi a mass cycling event to be held on 5 November

New Delhi Over 5000 cyclists from all over the country will take part in the "Saksham Pedal Delhi" a premie ...

Ad

Archive

September 2017
M T W T F S S
« Aug    
 123
45678910
11121314151617
18192021222324
252627282930  

OPEN HOUSE

Mallya case: India gives fresh set of documents to UK

AMN India has given a fresh set of papers to the UK in the extradition case of businessman Vijay Mallya. Ex ...

@Powered By: Logicsart

Help us, spread the word about INDIAN AWAAZ

RSS
Follow by Email20
Facebook210
Facebook
Google+100
http://theindianawaaz.com/cait-demands-waiver-of-penalty-under-gst/">
LINKEDIN