ITR and GST filing Deadline: The last date for filing GST Annual Return and ITR is near. Experts believe that this year the process of tax return filing has been very easy, despite this some income taxpayers have demanded to extend the last date for filing GST and ITR. Tomorrow i.e. 31 December 2022 is the last chance for businessmen to file their GST Annual Return for the financial year 2021-22. Companies with a turnover of Rs 5 crore in the financial year 2021-22 are expected to have filed the GSTR-9 form and GSTR 9C form in the form of self-certified reconciliation statement, those who have not been able to do so will be liable for penalty. You may have to pay a late fee.
Last chance to file itr
For the assessment year 2022-23, for people who have not yet filed belated or revised income tax returns, 31 December 2022 is also the last date for filing ITR for those income taxpayers. If an income taxpayer has already filed the original return, then he will have to submit the belated income tax return along with the late fee. A revised income tax return is different from a belated return. In such a case, the income taxpayers who have filed the original return can submit the revised income tax return without any late fee. This year till December 25, 7 crores 14 lakh people have filed an income tax return for the assessment year 2022-23. Out of which the process of 6 crores 49 lakh income taxpayers has been completed.
A tax practitioner told that for those who have filed their ITR before the due date, the process has been easy. He said that when the last date is near, there are always problems due to a large amount of ITR being filed simultaneously. He told that not many appeals have been filed from the income taxpayers to extend the last date for filing ITR.
According to some businessmen, the process of filing GST returns was quite smooth this year, they say that some problems had to be raised regarding the self-certified reconciliation statement. Archit Gupta, Founder and CEO of Clear Tax, said that this time there was no significant problem in filing ITR. Filing is going on successfully on our platform. All self-certified reconciliation statements are required to be settled on time. Archit Gupta told that annual return filing is an important task and it takes time.
Bimal Jain, the founder of A2Z Taxcorp, said that this time the GSTR filing system is being done in a much better way. He told that due to the increase in traffic simultaneously for filing at the last minute, the process slows down. In such a situation, there is a need to file annual returns and self-certified reconciliation statements with great restraint. Bimal Jain told that he has also received complaints from some businessmen regarding GSTR 9 form and GSTR 9C form not being in the correct format.
Demand to extend the last date for filing GST and ITR
Some tax practitioners and businessmen have demanded an extension of the return filing deadline by at least one to three months. The Meerut Tax Bar Association has written a letter to the Finance Ministry demanding an extension of the current last date for filing GSTR 9, GSTR 9C and income tax returns for non-audit category businessmen from December 31, 2022, to March 31, 2023.
