Deadline extended! Good news for GST filers, now you have 90 more days to file annual returns

In a big relief to GST filers, the government has extended the deadline for filing annual returns by 90 daysIn a big relief to GST filers, the government has extended the deadline for filing annual returns by 90 days

In a big relief to GST filers, the government has extended the deadline for filing annual returns by 90 days until Match 31, 2019 from December 31, 2018. The Central Board of Indirect Taxes and Customs, in a statement, said, “The competent authority has decided to extend the due date for filing FORM GSTR-9, FORM GSTR-9A and FORM GSTR-9C till 31st March, 2019.”

The forms will be made available on the GST common portal shortly, the statement added. The GSTR 9, GSTR 9A and GSTR 9B are to be filed by taxpayers under composition scheme, regular taxpayers and electronic commerce operators.

The registered taxpayers will be providing details of sales, purchases and input tax credit (ITC) benefits accrued to them during 2017-18 fiscal in a consolidated manner.

The annual return form for normal taxpayers has been divided into six parts with 19 tables which includes detailed information related to outward supplies, inward supplies, ITC availed, ITC reversed, ineligible ITC, particulars of demand and refund, HSN summary of outward supplies and HSN summary of inward supplies of the transactions declared in returns filed during the financial year ending March 2018.

Form GSTR 9 is a consolidated form for monthly or quarterly GST returns, while GSTR 9C is an additional form to be filed by the taxable person whose turnover exceeds the threshold of Rs 2 crore. Meanwhile, the government has also said that it is planning to roll-out the new and simplified single GST returns form from April 1.

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Source: Financial Express