Krishna (Fictional Character): Arjuna, October month is full of tax heat. In this year, the due date of tax audit has extended upto 31st October. There were so many due dates of GST came in October. Because of this, all taxpayers and tax consultants in hustle bustle. Diwali also came in that period. So due to this, everyone got disgusted.
Arjuna: Krishna, in October, which due dates were attacked?
Krishna: Arjuna, 7th October was due date for TDS/ TCS challan. It was also due date for submission of Form ADT – 1 with ROC. The due date for ESI, PF and TCS returns was 15th October. For furnishing the GSTR – 1 of July month, the due date was 10th October. Due date for the returns of composition dealer under GST was 18th October. But it is extended upto 15th of the November. The due date for Form GSTR-3B of September was 20th October. The due date for uploading Tax audit report is 31st October. Similarly, the due date for TDS Returns and Form GSTR – 2 for the July month is also 31st October.
Arjuna: Krishna, 31st October is the due date for tax audits. So what to do at this time?
Krishna: Arjuna, the due date of tax audit means the taxpayers, to whom the provisions of tax audit are applicable, should file the tax audit report (TAR) upto that date. Audits of the taxpayers should be done by the Chartered Accountants. This year, the due date of tax audit is extended from 30th September upto 31st October. So due to this, taxpayers get the extra time to upload TAR. But, in between, Diwali came. After that also, all people are doing tax audits by sitting whole day and night.
Arjuna: Krishna, Is the 31st October due date for TDS returns?
Krishna: Arjuna, Yes, 31st October is the due date for filing of TDS return for the quarter 2 of financial year 2017- 18. But taxpayers should not wait upto the last date. Before the due date itself, they should file the return as early as possible by giving correct information. If the e-TDS statement is not filed on time, then it results in penalty. Due to this complex due date schedule, it feels that, October 2017 is the hardest month in the life of tax consultants.
Arjuna: Krishna, Is there any due date for GST on 31st October?
Krishna: Arjuna, In case of GST, 31st October is the last date for Form GSTR – 2A of July month. GST Taxpayers should give the acceptance for the details of purchases for July month which are auto populated upto 31st October. There must be hustle bustle of taxpayers as the due date for tax audits and Form GSTR – 2A of July month is the same.
Arjuna: Krishna, what are the problems faced by tax consultants in the month of October?
Krishna: Arjuna, the detail information is to be given in tax audit report and different types of reports are prepared in case of tax audit report. In form GSTR – 2A each and every transaction of purchases in GST is to be verified. All the procedure is online. Due to this, everyone is facing the problems like internet connectivity, uploading errors, etc. Similarly, there are certain bugs in returns also. Tax department should have extended the due date but extension at the end doesn’t help. Because what is the benefit to take the ticket after the train goes.
Arjuna: Krishna, what lesson the taxpayer should take from this?
Krishna: Arjuna, each and every tax consultant is facing the problems. But with the help of learned taxpayers, it is reducing to some extent. Government should bring the simplified computerized system of GST. So, taxpayers have to face such technical problems. Because of these matters of upload and download; everyone has increased his load!