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Punjab - Excise dept starts e-filing of VAT returns

The state Excise and Taxation Department has finally started the facility of e-filing of VAT returns. So far, about 1,000 assessees have registered themselves for this facility. e-filing is optional this financial year, but will be compulsory for certain sections from the next fiscal, said HMS Rosha, CEO, Excise and Taxation, Technical Services Agency.



 

He added, “Rs 1.5 crore were earmarked for this project, but it is yet to be calculated how much money has been spent on it. e-filing will be made mandatory for the firms registered under the Companies Act, as this will save a lot of time. Besides, this was a major demand of the industry and even the department wanted to upgrade the system.”

Sources said the companies with an annual turnover of more than a crore would also be told to file e-returns from the next fiscal. However at the moment, the facility is being run on trial basis.

Meanwhile, advocates are not very happy with this development. District Taxation Bar Association (Sales Tax) president Gulshan Goyal said, “This system is not yet up to the mark, besides not everybody is familiar with computer. Therefore, more time should be given before making it compulsory.”

Jatinder Khurana, press secretary of the association, echoed Goyal’s views.

However, sources said advocates were protesting as e-filing would affect their business. On the other hand, industry has welcomed this move because now they need not rush to the excise offices for filing returns. This will also address industry’s complaint that the manual returns led to a lot of problems, including delay in getting VAT refunds.

Source : Chandigarh Newsline - Chandigarh, India, dated 27/01/2008

 

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