GST Return: Significant Taxpayers yet to file Returns

The Central GST office in Surat has advised taxpayers to settle all past and current dues by March 31. “As the end of the financial year approaches, all taxpayers must clear GST dues from the current and previous financial years, drawing the attention of all CGST taxpayers, trade and industry associations, chartered accountants, and tax practitioners and associations.”

“Drawing the attention of all CGST taxpayers, trade and industry associations, chartered accountants, and tax practitioners and associations, as the end of the financial year approaches, all taxpayers must clear GST dues for the current and previous financial years. According to data analysis by the CGST, Surat, a substantial number of filers have not submitted mandatory reports by settling their due tax obligation”, the advisory states.

According to the advisory, “a number of taxpayers have also not yet discharged their due interest liabilities that have arisen as a result of delayed GST payment. There is an 18% interest penalty for late GST payment.”

The CGST Surat office has asked trade and industry groups to help advise and ease the filing of GST returns and payment of relevant dues.