As taxpayers face technical glitches on the GST portal, the government on Tuesday extended the due date for April tax payment till May 24 and has directed Infosys for early resolution of the problem.
The due date for filing FORM GSTR-3B for the month of April 2022 has been extended till 24th May 2022, the Central Board of Indirect Taxes and Customs (CBI C) said in a late-night tweet.
Earlier in the day, the CBI C had said that a technical glitch has been reported by Infosys in the generation of April GSTR-2B and auto-population of GSTR-3B on the portal.
GSTR-2B is an auto-drafted Input Tax credit (ITC) statement which is available to every GST registered entity based on the information furnished by their suppliers in their respective sales return form GSTR-1.
GSTR-2B statement is usually made available to businesses on the 12th day of the succeeding month, based on which they can claim ITC while paying taxes and filing GSTR-3B.
GSTR-3B is filed in a staggered manner between 20th, 22nd and 24th of every month for different categories of taxpayers.
"Considering the difficulties faced by taxpayers in filing their GSTR-3B for the month of April 2022, a proposal to extend the due date of filing GSTR-3B for April 2022 is under active consideration," the CBI C tweeted.
"The technical team is working to resolve this issue for the impacted taxpayers and generate fresh GSTR-2B at the earliest. In the interim, affected taxpayers interested in filing GSTR-3B are requested to file the return on a self-assessment basis using GSTR-2A," the GSTN had said.
GSTR-2A is a system-generated statement of inward supplies.
In 2015, Infosys was awarded a Rs 1,380 crore contract to build and maintain the GST system.
AMRF & Associates Senior Partner Rajah Mahan said, "technical glitches on the portal would derail the tax filings for millions of taxpayers in the current month. For the benefit of all the businesses, the government must either extend the timelines for tax filings or waive the late fees payable on delayed filings".
"Recommendations of GST council, the product of collaborative discussion. It is not imperative that one of the federal units must always possess a higher share", Justice Chandrachud read said,
It remains to be seen if this verdict would lead to re-evaluation of past GST rulings.
"If some are re-evaluated now, it is going to become challenging for businesses which are just recovering from a pandemic and demand reduction. This is a stage where the tax policies and tax laws should be supporting businesses to grow back to their earlier double-digit growth figures," said MS Mani, Partner, Deloitte India (Indirect Tax).
The GST council is the supreme decision-making body chaired by FM and represented by all states/UT's by their finance ministers.
The government on Thursday said it has decided to lift the price cap of Rs 6,500 per Quinta on raw jute from May 20 this year. It is expected that the cap removal will help the farmers, mills and jute MSME sector, wherein over 7 lakh people are dependent on the jute trade in addition to about 40 lakh jute farmers, the textile's ministry said,
Jute Commissioner Office has been collecting the information about the raw jute prices through formal and informal sources, and it has found that the present prices are ruling near the capped price, it said,
"As the existing prices of raw jute are ruling around Rs 6,500 (per Quinta), Government of India has taken a dynamic decision to lift the price capping w.e.f. 20th May 2022,"
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