The Chartered Accountants all over the country are under huge pressure as the due date for filing income tax audit report and GSTR-1 is expiring today and the Government is in no mood to extend the due dates. To add more tensions, the GST portal was not working properly afternoon, which made the day more terrible. The due date for furnishing FORM GSTR-1 for the period from July 2017 to September 2018 had been extended till 31st October, 2018. The original due date for filing TAR was fixed was 30th September which was later extended to 15th October and then to 31st October considering the requests of the tax practitioners and the orders of the various High Courts.
There are penalty and even prosecution in respect of a Chartered Accountant for filing false tax audit report. Further, interest provisions have also not been waived for the extended period. The Central board of Direct Taxes ( CBDT ), while considering a representation of Tax Bar Association, last week had confirmed that there will be no further extension of tax audit due date. Both the Kerala and the Gauhati High Courts have adjourned the petitions for further extension and asked the CBDT to file counter affidavit hinting that there won’t be any relief to the tax practitioners.
Source :- Taxscan.in