The Goa Chamber of Commerce and Industry (GCCI) officially asked Union Finance Minister Nirmala Sitharaman to remove late fees for filing GST annual returns (GSTR-9) and reconciliation statements (GSTR-9C) for the fiscal year 2024-25.
GCCI Seeks Waiver of Late Fees on GSTR-9 and GSTR-9C for FY25
The GCCI specifically requests that the Ministry extend the filing deadline to January 31, 2026, and provide relief from penalties. They point out that delays in releasing statutory forms and complicated new amendments have created major challenges for taxpayers.
Sanjay Amonkar, director general of GCCI, wrote in a letter to Sitharaman that the forms available on the GST portal on October 15. These structural changes in ITC reporting and various disclosure requirements reduced the time available for taxpayers to complete their reconciliations.
Taxpayers with a turnover over Rs 2 crore must submit Form GSTR-9 to ensure that the numbers reported in their annual GST returns match the audited financial records. A late fee of Rs 200 per day is charged for delays.
Request to Extend Filing Deadline to January 31, 2026
The GCCI also mentioned that the Central Board of Indirect Taxes & Customs (CBIC) kept updating auto-populated Input Tax Credit (ITC) data even as late as November 30. This inconsistency in the figures, caused by late invoice reporting from vendors. It continue until the final deadline for reporting the fiscal year 2024-25 invoices. This situation made it nearly impossible for businesses to reconcile their accounts accurately.
The chamber pointed out that the GST changes announced in September introduced significant revisions in tax rates and compliance processes.
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