The Goa Chamber of Commerce and Industry (GCCI) has formally appealed to Union Finance Minister Nirmala Sitharaman, requesting a waiver of late fees for filing crucial annual GST returns. The chamber has highlighted significant delays in the government's release of the required forms and subsequent amendments as the primary reason for its plea.
Core Request and Rationale
In a direct letter to the Finance Minister, the GCCI has asked for a waiver of late fees associated with the filing of the GST annual return, known as Form GSTR-9, and the reconciliation statement, Form GSTR-9C, for the financial year 2024-25. The chamber has requested this relief for filings made up to the deadline of January 31, 2026.
Sanjay Amonkar, the Director General of GCCI, stated that the government released the annual forms late, making them available on the official GST portal only on October 15. Furthermore, these forms introduced substantial amendments, particularly in how Input Tax Credit (ITC) is reported and through multiple new disclosure requirements.
"These structural changes have significantly reduced the time available for taxpayers to complete the comprehensive reconciliations needed," Amonkar explained in the communication.
Compliance Burden and Technical Hurdles
The compliance mandate requires all taxpayers with an annual turnover exceeding Rs 2 crore to file Form GSTR-9. This form ensures that the figures reported in the annual GST returns match those in the audited books of accounts. A delay in filing currently attracts a late fee of Rs 200 per day, which can become a substantial burden for businesses.
Adding to the complexity, the GCCI pointed out that the Central Board of Indirect Taxes & Customs (CBIC) made continuous updates to the auto-populated ITC data until November 30. This date was also the final deadline for reporting invoices for FY 2024-25. The updates were necessary due to delayed invoice reporting by vendors, creating a moving target for businesses trying to finalize their data.
Compounding Factors Shortening the Timeline
The chamber outlined several other factors that have collectively squeezed the effective window for accurate filing. A major GST rationalisation exercise announced in September introduced significant changes in tax rates and compliance processes, forcing businesses to undertake extensive system updates.
Furthermore, the preparation of GSTR-9 and GSTR-9C requires meticulous reconciliation with audited financial statements and tax-audit reports. For many taxpayers, these audit processes and related compliances extend deep into November and December, leaving a very short period to finalize the GST filings.
"The effective window for finalising GST filings has been shortened considerably due to these overlapping deadlines and procedural changes," Amonkar emphasized, underscoring the practical challenges faced by the business community in Goa and beyond.
The GCCI's appeal now rests with the Finance Ministry, as businesses await a decision that could provide crucial relief in a year marked by significant GST reforms and operational delays.
