VAT E-FILING COMPULSORY

E-filing returns compulsory from this quarter, last date July 20

Ludhiana, July 16 If you are among those who claim VAT refunds from the State Excise and Taxation department, you will have to e-file your returns from this quarter onwards. The last date to file e-return is July 20.
Nearly 3,000 industrialists all across the state will come under the net from this quarter onwards, said A Venuprasad, Excise and Taxation Commissioner, Punjab.
“The process will only benefit the industrialists and once e-filing is over, there will be no mismatch of data and hence VAT refunds will be issued swiftly,” he added.
Industrialists have been complaining of the delay in VAT refunds since long. Venuprasad said, “In the last financial year, we had issued Rs 325 crore VAT refunds.”
The public notice for compulsory e-filing was issued two days ago and a number of industrialists have started taking the passwords as well. The project was on the cards for long and is finally being implemented, said Venuprasad.
Advocates, however, have a different point of view. Jatinder Khurana, president of district young lawyers association, said: “The timeframe given to the industry is too less and a number of industrialists are not even ready for e-filing. At least six months time should have been given to start the process.” Rajiv Johar, president of district sales tax bar association, supported Khurana’s views.
Venuprasad, however, says the process will not be much of a hassle and would rather help the industry.