News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
News Headlines »
 DIY guide to file your ITR
 Income Tax return online filing: Ensure your Form 16 is valid and here is how you can check for it
 How to report income from investments ITR filing
 How to file income tax returns?
 Will income tax department extend July 31 deadline for ITR filing?
 5 smart things to know about income tax return
 How to file ITR 1 with salary, home loan and other income for FY 2018-19
 Filing ITR online? Here's how you can check if your Form 16 is valid
 What to check in your Form-16 while filing ITR
 Here is how to file income tax return online
 Filling income tax return forms not a smooth affair

Timeline for filing of tax returns extended by two months
June, 20th 2017

Service providers for the Goods and Services Tax (GST), who will offer taxpayers the technological solutions to file GST returns, as well as companies offering other value-added services have welcomed the decision by the GST Council on Sunday of extending the timeline for filing of tax returns by two months.

Following concerns raised by the trade and industry, the GST Council said that taxpayers need to file only simple returns comprising a summary of outward and inward supplies for July and August, while the invoice-based details can be filed from September.

ET had reported last week that GST Suvidha Providers (GSPs) had urged the GST Network, the nodal agency in charge of the IT infrastructure and services for GST implementation, to defer the date for filing of invoices by at least a month from August to September, so as to allow GSPs to carry out testing and security compliance given the delay in opening of APIs (application programming interface).

“This is a very welcome mo ve. GSPs had requested for an extension by at least a month, and the extension of two months will be extremely helpful for us to be prepared with our systems for tax filings,“ said Vinod Tambi, COO at Excellon Software, a sales and distribution management software provider, which is a GSP.

Other service providers also said that this move will help GSPs be better prepared for the GST rollout. “It will give the industry the much needed time to align their IT systems and integrate with the GSTN,“ said Abhishek Jain, tax partner at EY India, which is also a GSP . The extension in filing is expected to particularly help the industry as whole, especially small taxpayers in compliance. “Extension of GST filing comes as a relief for the large SME and MSME segment,“ said Ankit Agarwal, MD, Alankit, another shortlisted GSP.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
E-catalogue online catalogue E-brochure online brochure online product catalogue online product catalogue e-catalogue Indi

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions