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 »
 How to File Income Tax Returns aka ITR Online in India
 Will a new direct tax law push up compliance?
 How To Verify Income Tax Return (ITR) Without Login To E-Filing Account
 How to file ITR on the e-filing lite portal
 Income Tax department launches new way of making e-verification ITR filing
 Have you filed your income tax return correctly? Find out
 How to rectify mismatches between Form 16 and Form 26AS ITR filing
 How to fill ITR-1 form ITR filing 2019
 8 common mistakes to avoid when filing ITR
 How to calculate and report LTCG gains in ITR-2 for FY 2018-19
 How to calculate and report LTCG gains in ITR-2 for FY 2018-19

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