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On Sunday, the government postponed the deadline for filing GST Form 3B returns for the period from October 20 to October 25 from September to September.
"It was brought to the attention of the public and public date of making available the CIT [input tax credit] for the period from July 2017 to March 2018," the government said in a statement. In order to remove doubts, it was clarified that, in accordance with the law, the deadline for recourse to ITC for the period from July 2017 to March 2018 is the deadline for filing the declaration in the form GSTR-3B for September 2018. "
" In view of these apprehensions and in order to give a little more time to trade and industry, the deadline for submission of the return in the form GSTR-3B for the month of September 2018 is being extended until October 25, 2018, "adds the text.]" Although companies, who could not file the return by 20, can benefit from the extension, it does not help really most of the big companies that would have already done their Declaration by overtime, "Pratik Jain, partner and leader, indirect tax, PwC India, said.
"Since there is no possibility to change the declaration, these companies can not claim the credit they could have missed," he noted. "To help the industry, the government should at least extend the due date until November 20, so that the credit can be claimed at the October statement," added Mr. Jain.
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