New Delhi: First thing first, with taxpayers continuing to throng the GST Network (GSTN) portal over the last few days, finance minister Arun Jaitley urged the assessees to avoid last-minute rush for tax filing.
It is worthwhile pointing out that around 75% of the eligible taxpayers were still to file the summarised return (GSTR 3B) for August on the last day. Jaitley said GSTN, which operates the IT backbone for the new indirect tax regime, had no difficulty in uploading returns till Tuesday night, but if 75% of businesses rush to the portal on a single day, there would be trouble.
“Today is the last day to pay taxes for August. Till last night, about 25% people had filed the return and paid their taxes. So, 75% waited for the last day,” he said.
Finance Minister further went on to add that the GST Network (GSTN) has the capacity to handle 1 lakh returns per hour, which translates to 24 lakh returns in a day.
Since the businesses have a broad idea about the taxes to be paid, they should start filing returns by 14th or 15th of the next month to have an easy entry into GSTN systems, Jaitley said. “Therefore, I would appeal to everybody, it is in their interest (to file returns early),” he added.
In order to ease compliance burden, the GST Council has allowed businesses to file their initial tax returns in form GSTR-3B in the first six months of the GST rollout till December.