CA. Nilesh S. Vikamsey
President
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA
(Set up by an Act of Parliament)
23rd October, 2017
ICAI/DTC/2017-18/Rep-31
Shri Arun Jaitley,
Hon’ble Finance Minister,
Ministry of Finance,
Government of India,
North Block,
New Delhi -110 001.
Hon’ble Sir,
Sub: Request to extend the due date of filing Income-tax returns for assessees mentioned under clause (a) of Explanation 2 to Section 139(1) and Tax Audit report u/s 44AB for the AY 2017-18 from 31st October, 2017 to 30th November, 2017
At the outset, we thank you for accepting our suggestion for extending the ‘due-date’ for filing Income Tax Returns and various reports of audit from 30th September, 2017 to 31st October, 2017 vide our representation No. ICAI/DTC/2017-18/Rep-24, dated 29.8.2017 (copy attached). The said extension was made so as to allow sufficient time to the assessees’ and tax professionals, who are required to make first time compliances in view of the fact that the Goods and Services Tax (‘GST’) has come into effect on 1-7-2017.
In this regard, we wish to inform you that members and assessees are still grappling with the complexities of first time GST compliance and the first time compliances required to be made due to implementation of Income Computation and Disclosure Standards (ICDSs) as stated below:
1. First time GST compliance :
The various compliances which are required to be made in the months of October and November due to the newly enacted GST law are given in the following table:
| Return | Tax period | Due Date |
| GSTR-6 | July, 2017 | 13th Oct,2017 |
| GSTR-4 | July-September 2017 | 18th Oct,2017 |
| GSTR 3B | September, 2017 | 20th Oct,2017 |
| GSTR-2 | July, 2017 | 31st Oct,2017 |
| Form TRANS 1 | July, 2017 | 31st Oct,2017 |
| GSTR-3 | July, 2017 | 10th Nov,2017 |
| GSTR 3B | October, 2017 | 20th Nov,2017 |
Further, as per press release dated 6th October, 2017 the last date for filing the FORM GSTR-4 return under composition scheme for the quarter July-September, 2017 has been extended to 15.11.2017. Also, the last date for filing the return in FORM GSTR-6 return by an input service distributor for the months of July, August and September, 2017 has been extended to 15.11.2017.
The filing of such GST returns is being done for the first time. The GST law is new and hardly any lime has been given after enactment to absorb, assimilate and implement the new law, it is consuming a lot of time of the members in comprehending and ensuring compliance with the new law. Also, the technology issues has resulted in loss of innumerable man hours of assesses and professionals impacting all other work.
2. First time reporting requirements due to applicability of newly notified Income Computation and Disclosure Standards (ICDSs).
The amended From No 3CD has substituted sub-clause (d) of clause 13 with new sub-clauses (d), (e) and (f) requiring reporting of the adjustments and disclosures mandated as per the newly notified Income Computation and Disclosure Standards (ICDSs). In addition to this, reporting the net effect on the income due to application of ICDS has to be done for the first time in the ITR forms notified tor the AY 2017-18 under ‘Schedule ICDS – Effect of Income Computation Disclosure Standards on profit’.
As the reporting in respect of ICDS in Form No. 3CD and ITR Forms is being done for the first time, there are lot of nuances or the new reporting requirements imposed due to implementation of ICDSs. As a result, members and assessees require some more time for the said reporting.
In view of the above, our members are voicing their apprehensions regarding the limitations of time available for conducting tax audit and filing Returns of Income by October 31, 2017 for AY 2017-18.
Suggestion:
Institute believes that the members of the profession have to continuously maintain and strive to enhance the standard of services provided by them, which includes the quality of audit conducted by them. Conducting the tax audit in an effective manner is therefore necessary to ensure that there is no loss to the Revenue. In view of above and our earlier submissions made vide the attached representation, it is once again requested that the last date of completion of tax audit and filing of tax audit report and income-tax returns, which has been extended to October 31, 2017 may be further extended to November 30, 2017.
Thanking you,
Yours faithfully,
(CA. Nilesh S.Vikamsey)
End: As above
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If we have not filed the GSTR-3B In time, will we have to pay the interest on our tax obligation?
Thanks.
GST returns are nothing but audit of books of accounts in other words cross verification every month. Why it is required every month. Why not quarterly.
We always appreciate ICAI step towards members welfare.
Thanks to ICAI
Thanks to our President
waiting for Jaitly sahab extension….
I’m thankful to ICAI for the effort…. Even AT PRESENT with lot of tension that wheather CBDB consider this request or not… Not slept properly since a week, much busy with GST 2- GST TRAN 1 work only, not getting time to attend 44 AB IT cases file… continuous work resulting with losing my health, suffering with fever etc… Never felt this kind of tension at this time any year….
Can I revise GST TRAN-1
thank you very much to ICAI for requesting the extension of Tax Audit Due Date
Thank you very much…. for requesting extension..
Respected Institute..
Thank you very much for this initiative. It really helps us professionals to carry out our responsibilities effectively.
we thankful to ICAI for requesting extension of Tax Audit Due Date. Extension will helpful for CA’s and Tax Consultants as well as Business men.
Ashwin G Kansara
October 26, 1917
we thankful to ICAI for requesting extension of Tax Audit Due Date . its almost necessary when new tax regime implemented by government without doing any ground work & due to this daily they have to come out with notification and amendments.
You must insist for date extension till 31.12.2017 and request them now onward
make due date is 31st december for all the com inf year.
Really we are thankful for your request for extension of time since it is very hard pressing to complete and file the tax audited accounts and returns on or before 31st October, 2017.
sir any good news from cbdt today is 26th by afternoon can we get the good news
We are thankful to the ICAI for this request for extension of time limit for conducting of tax audit and filing of Income Tax Returns which is inevitable this year.
Thank U Very much for Requesting for extension of tax Audit date it will be very helpful for all employer to Running their business with out tension of filling
sir your done by good decession sir
Thank you so much for such request.
Now we request you to please follow the issue to get the decision at the earliest to avoid errors in audits.
THANKS TO ICAI FOR REQUESTING EXTENCTION OF TAX AUDIT DATE
THANKS TO ICAI FOR REQUESTING EXTENCTION OF TAX AUDIT DATE from all muneem bhaichara
sir you are done good job, but one thing you please meet narendra modiji personally and explain we are facing which type of problems in present days every body lossing personal life with this type of taxation and get tax audit relaxation
WHOLE INDIA IS EAGERLY WAITING FOR FURTHER EXTENSION OF TAX AUDIT CASES ,Because of Hectic schedule of GST and parallel to IT Work . We all must request the Hon Ble Finance Minister to kindly give us one more month of extention of Tax audit cases till the end of November 2017
Any news of extension should be extended earliest to avoid errors in audit and return filing
We request ICAI to get early extension from cbdt, fin ministry as there are somany due dates, also request other chambers to represent for audit extension
Yes it should be extended till 31.12.2017, They want good quality work in very short time with lots of other tension of compliance, GST, VAT, SERVICE TAX, LBT, ETC.
Thankful to ICAI. Hope Ministry will understand pains of the Members of ICAI and respond positively at the earliest.
Thankful to ICAI for requesting extention of Tax Audit Due Date
We are thankful for ICAI and hope Ministry will understand our pains.
WE ARE VERY MUCH BUSY ON GST RETURN SO WE REQUEST YOUR HONOUR TO EXTENED THE DATE OF INCOME TAX AUDIT FURTHER ONE MONTH
WE ARE VERY MUCH BUSY IN GST RETURN SO WE REQUEST YOUR HONOUR TO EXTENED THE DATE FOR A MONTH
SIR
MERE KHYAL SE 31 DEC – 2017 KA REQUEST KARNA THA, 30 NOV TAK BHI PURA NAHI HOGA, WORK LOAD,
Any news of extension should be extended earliest to avoid errors in audit and return filing
thankyou for icai for proposing extension of tax audit due date
THANKS TO ICAI FOR REQUESTING EXTENCTION OF TAX AUDIT DATE
thankful to icai for requesting extension for tax audit due date
awaiting for date extension please approve our request for extension
Thanks for your requesting
Thanks for requesting extension of Tax Audit Due Date
kya request aproove hui
Thanks for requesting tax audit due date extension.
But Govt can do this……………
or after 31 oct 2017 due date is extended….
We are thankful to the ICAI for this request for extension of time limit for conducting of tax audit and filing of Income Tax Returns which is inevitable this year.
we thankful to ICAI for requesting extension of Tax Audit Due Date
we thankful to ICAI for requesting extension of Tax Audit Due Date
we thankful to ICAI for requesting extension of Tax Audit Due Date
Thanks for requesting tax audit due date extension.
Thank ICAI
Sir bhaut bada tenson he sir GST ka work kare ya IT ka Sir Is Bar Depawli Nahi Mnai he
sir pl. new tax audit Date 30.11.2017
I THANKS TO ICAI FOR REQUESTING EXTENSION OF TAX AUDIT DUE DATE
thank you very much to icai for requesting the extension
thanks
The petition has been very poorly drafted and it is containing typing mistakes also. This level of drafting and typing mistakes are not pardonable when the petition is coming from the office of the President of ICAI
RIGHT SAID INCOME TAX AUDIT IS MUST TILL 30 NOV 2017.
we thankful to ICAI for requesting extension of Tax Audit Due Date .