No facility to revise GST returns even after seven years

On July 1, GST will complete seven years. But till now traders and entrepreneurs have not been allowed to revise their returns. Due to this, while the officers are issuing notices, the entrepreneurs and traders are forced to deposit ten percent of the tax and go for appeal.

If there was any mistake during the filing of returns during VAT, then there was an exemption to revise the return. This would correct the data. But this system is not there in GST, whereas this facility is applicable in Income Tax and Excise.

According to Santosh Kumar Gupta, chairman of the GST committee of the Merchants Chamber, when filing GSTR-1, some sales data is not fed and despite being caught immediately, the trader cannot revise that return. This sales data can be shown only in the next month. However, the trader has to pay interest at the rate of 18 percent per annum for this month.

The GST officer can issue a notice for failing to report this sale, as well as apply a penalty and interest. Accountants that manage traders' accounts work for multiple firms at the same time. They have all the necessary documentation. In such a case, such sales are frequently shown in GSTR-1 and have nothing to do with the merchant.

The trader does not include the tax in the 3B return. In such cases, the officer issues a notice demanding interest and penalty in addition to the tax. Even when cases are appealed, the trader's point is rarely granted. Under compulsion, he has to pay tax, interest, and penalty for the sale which he did not make. Cases of wrong adjustment of ITC are also pending Since the financial year 2017-18 and thereafter 2018-19 is the initial phase of business after the implementation of GST, the cases of wrong adjustment of ITC are not being rectified yet.

The interest on them has become more than the tax payable. According to Santosh Kumar Gupta, a petition has been filed in the Supreme Court for the facility of amendment in the return. The court has also sought a reply in the matter. For the convenience of businessmen, the facility of return amendment should be provided.