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KOCHI: The Indian Chamber of Commerce and Industry has urged the authorities to take immediate steps to overcome the difficulties experienced by the trade in submitting stock statement by extending the time to one more month in filing such statements.

A statement of stock relating to goods which have suffered tax at the point of first purchase and last purchase under the Kerala General Sales Tax Act 1963 is to be submitted on or before April 30 for claiming input tax credit. Since the time is too short, the trading community finds it impossible to submit the statement before the due date, Mr K.S. Sabu, President of the Chamber, said in a press release.

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