Also, the filing in October, that coincides with Diwali is likely to be extended till October 31In a meeting of GST Consultative Committee on Wednesday, it was discussed that filing of GST returns could be staggered as per the size of the company to avoid network congestion. It was suggested that large corporates, mid-size companies, and small businessmen have different timelines for the filing of returns so that there is no sudden rush. The business representative also suggested the abolition of Reverse Charge Mechanism, the quarterly filing of returns instead of monthly filing and set off of penalties levied for late filing against the tax payable by businessmen. Gujarat is one of them," said PD Vaghela, Commissioner of Commercial Tax in Gujarat. Nationally, GST collections for August stood at Rs 90,669 crore, compared to Rs 94,063 crore in July.

Source: dna September 28, 2017 03:00 UTC