Jaitley appeals businesses to file GST return 4-5 days in advance

Union Finance Minister Arun Jaitley on Thursday asked assessees to file their GST return 4-5 days in advance to avaoid last minute glitches.

With 75 percent of businesses waiting until the last day to file August GST returns, Jaitley asked them to avoid last-minute rush for tax filing.

He said the GST Network (GSTN) has the capacity to handle 1 lakh returns per hour, which translates to 24 lakh returns in a day. The GST Network had no difficulty to upload returns till last night, but when 75 percent of businesses throng the portal on a single day, there would be trouble, Jaitley said.

Over 25-odd glitches, which had led to the GST-Network portal crashing on at least two occasions in the very first month of filing, relate largely to payments and registration. According to PTI reports, nearly 22 lakh GST returns for August were filed as of 6 pm Wednesday, as businesses flocked the GSTN portal to submit their returns on the last day for tax filing.

To ease compliance burden, GST Council allowed businesses to file their initial tax returns in form GSTR-3B in the first six months of GST rollout till December.

The Finance Minister appealed to everybody to file returns. He said as businesses have a broad idea about the taxes to be paid, they should start filing returns by 14/15th of the next month to have an easy entry into GSTN systems.

On the demonetisation, Jaitley said that the process has been substantially completed