Daijiworld Media Network – Panaji

Panaji, Sep 13: The Goa Chamber of Commerce and Industry (GCCI) has warned that taxpayers and professionals in the state are facing an unfair compliance squeeze due to delays in the release of income tax utilities coinciding with the rollout of GST 2.0.

In a letter to Finance Minister Nirmala Sitharaman, GCCI president Pratima Dhond highlighted that delayed ITR utilities and tax audit forms, typically released in April but issued only in July this year, have left businesses with limited time to prepare accurate returns.

The chamber urged the Centre to extend the ITR filing deadline to October 15 for non-audit cases, October 31 for tax audit reports, and November 30 for those requiring audits.

Frequent portal updates have further strained software vendors and taxpayers, especially small and medium businesses in Goa, many of which rely on consultants and face internet connectivity challenges. GCCI stressed that taxpayers need adequate time to reconcile accounts, compile data, and ensure compliance, particularly amid the transition to GST 2.0 and revised formats for financial statements introduced by the Institute of Chartered Accountants of India this year.