Last day for filing returns toady, but process not as simple as claimed; cascading effect on GSTR-2 likely
Most returns to be filed under Goods and Services Tax (GSTR 1) by today will not meet the deadline, fear tax experts. As data from GSTR-1 returns is necessary for filing GSTR-2, there will be issues in filing GSTR 2 as well, they caution.
In GSTR-1, the details of sales, or outward supplies, are to be submitted. However, tax practitioners say that the system is extremely slow and that barely 10 per cent of returns will be filled through Tuesday's deadline.
"It was claimed that a return will be filed in 10 minutes. (The) Reality is it takes a couple of hours," said Vaaris Isani, President of Gujarat Sales Tax Bar Association. Moreover, errors are encountered in most returns. "We are not able to file returns in such cases. There is a tremendous stress on tax practitioners. We have suggested to the government that instead of monthly returns, there should be quarterly returns," he told DNA.
Another tax practitioner, Lalit Ganatra, said "There is no seamless transfer of data from the systems used by businessmen to systems used under GST. There is no option to rectify errors. We also encounter different errors and its takes not less than a day to rectify them. There is no way all the returns will be filed."
As data for GSTR-2, for inward supply or purchases, is auto-computed with GSTR-1, inadequate filing of GSTR-1 will result in only partial data sync to GSTR-2. This will result in inaccurate reporting of GSTR-2, Ganatra told DNA. "We need to fill details of purchases not mentioned in GSTR-1. Then only can final returns be filed," he said.
Door-to-door survey for GST regn
The government has initiated a move to conduct door to door survey of businessmen who have not enrolled in GST. An official of the state Commercial Tax Department will have to mention the name, contact details of the businessmen, his sales turnover, his purchase turnover and whether he has the TIN Number or not. Sources said the department has been told to increase the number of traders registered by 30 per cent.
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