Indirect tax dept extends annual GST returns filing date to March 31, 2019

gstAfter complaints of procedural hassles, the Central Board of Indirect Taxes and Customs (CBIC) has extended the deadline for filing annual returns and audit forms under the goods and services tax (GST) by three months till March 31, 2019.Earlier, businesses have complained about these returns– GSTR 9, GSTR 9A and GSTR 9C.CBIC also said that these forms would be available on the common GST portal shortly.Archit Gupta, CEO ClearTax said,” given that filing for GSTR-9 had not begun online, an extension was required.”Abhishek Jain, partner EY, said this was quite a sought-after extension by the industry, specifically for those players struggling to collate the information required to be disclosed in these forms.Besides the issue of online filing, businesses have complained that annual returns require too many details such like the break-up of purchases in three categories of raw materials, capital goods and services. As these are not required in the monthly or quarterly returns, businesses not only sought postponement of the deadline, but also suitable changes in the forms.Harpreet Singh, partner KPMG said,” The annual return format should be simplified to include only summation of the monthly returns without asking for any details.”
ALSO READ: Businesses jittery over procedural hassles in filing of annual GST returnsAlso, the last date for credit for 2017-18 has ended on October 25, the last date of filing for September transactions. The industry wants that it should be allowed in the annual forms.Gupta said several aspects of the form must also be re-looked by the government, including allowing credit which could not be claimed by the time of filing of September 2018.With December-end deadline postponed, Pratik Jain, partner PwC, said,” it ensures that we can all now plan our year-end holidays”.
Source: Business Standard