Only 80-85% of tax payers filing GSTR-3B returns before due date

CII Visakhapatnam recently organized a Seminar on GST & Post Union Budget Analysis 2025-26 wherein Mr. Sanjay Rathi, IRS, Chief Commissioner of Customs & Central Tax, Visakhapatnam Zone highlighted the transformative impact of GST on India’s economic landscape.

He further elaborated on the benefits of the Amnesty Scheme, which provides relief through waivers on interest and penalties and urged eligible taxpayers to take full advantage of the scheme.

Addressing return filing compliance, he acknowledged that while the overall compliance rate in the Visakhapatnam Zone exceeds 99%, timely filing remains a concern, with only 80-85% of taxpayers filing GSTR-3B returns before the due date.

He encouraged businesses and tax consultants to prioritize on-time filing of GST returns. As part of the trade facilitation initiatives, he announced that taxpayers and consultants can meet GST officers in the Zone every Wednesday without a prior appointment, reinforcing the department’s commitment to ease of doing business.

Mr Fredrick Anthony Copper, Assistant Commissioner of Central Tax, Visakhapatnam, provided an overview of the jurisdiction and highlighted key issues related to GST registrations, returns, and the new Invoice Management System (IMS).

He advised taxpayers to utilize the amnesty scheme for notices issued under Section 73 (FY 2017-18 to 2019-20) and Section 16(5) of the GST Act.

He also emphasized the legal enforcement of the Invoice Management System (IMS), making ITC reconciliation mandatory and linking GSTR-3B filing with GSTR-2B availability to enhance tax compliance.

Mr Rajesh Grandhi, Chairman, CII Visakhapatnam highlighted the increase in FDI limits, the National Manufacturing Mission, and MSME reclassification as key measures to enhance industrial expansion.

Mr Anil Bejawada, Convenor of the Taxation & Finance Panel, CII Andhra Pradesh highlighted the revised classification criteria for MSMEs, allowing enterprises to retain non-tax benefits for three years post-reclassification.

He emphasized delayed payment regulations, failing which buyers incur 3 times the RBI’s bank rate as interest.

CA Ashish Chaudhary, Partner, HNA & Co LLP discussed pre-deposit reductions for penalty appeals and taxability changes in sponsorship services, MSMEs, and preferential location charges, impacting various sectors. Mr V Mouli, Head, CII Visakhapatnam also participated in the meeting.