FOSTTA demands date extension for TDS payment

TNN | Apr 28, 2020, 04:00 IST

Surat: Textile traders in the country’s largest man-made fabric (MMF) wholesale market in the city have urged Union finance ministry to extend the due date of payment of tax deducted at source (TDS) and Goods and Services Tax (GST) for March until May 3.
The Federation of Surat Textile Traders’ Association (FOSTTA) has written to Union finance minister Nirmala Sitharaman stating that the due date for TDS payment for March is April 30 and for filing GSTR 3B return is April 20. Due to extended lockdown period until May 3, commercial establishments are closed and that it is not possible for the traders to pay TDS and GST for the month of March.
FOSTTA office-bearers stated that the central government has waived off late fee for filing of TDS return up to June 30, but interest of 0.75% will be charged if the tax is paid late. In such circumstances, the traders will have to bear huge losses for late filing of TDS and GST return.
FOSTTA secretary Champalal Bothra said, “Textile markets are located in red zone in the city and that the markets won’t be operational until May 3. Hence, it is not possible for the traders to pay TDS and file GST 3B return. We have urged the central government to extend the filing dates and demanded that the interest of 0.75% on late filing be waived off.”