GST Returns Date Extension Likely ?

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GST Returns Date Extension Likely ?

Just a day before Budget, New CBIC chairman is appointed.

An urgent review  meeting is called by Hon’ble FM with infosys team.

So much fast and urgent actions is an indication ?

Everyone is expecting for date extension. Further, news suggests that there are lot many issues in the figures reported as Non filers due to some software issues.

The returns filing is witnessing drastic increase in last 3 days and also reported to have lot many system issues in uploading it.

Considering the numerous representation, it is expected that  the Government may officially extend the due date of form 9 and 9C for the year 2017-18.

Even though few members in the board’s are not in favour of date extension, still the FM interference is expected to be in favour of date extension.

The due date is  today, January 31, 2020 and the same may be attached to 28th Feb.

Late Fee for delayed filing of GSTR 9 is likely to be waived. There is no late fee for non-filing or delayed filing of GSTR 9C except the levy of Penalty of Rs. 50, 000 (SGST Rs. 25,000 & CGST Rs. 25,000/-) which can be initiated only through process of issue of Show Cause Notice which is also expected to be waived.

If insider information is to be believed then one may conclude that

“Date Extension Soon”

 

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