GSTR-9 due date extended further. - FreeasyTricks.in

Tuesday, January 8, 2019

GSTR-9 due date extended further.


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The 31st GST Council meeting that occurred on 22nd December 2018 at the Vigyan Bhawan, New Delhi had looked to amend the Goods and Services Tax duty structure to help the taxpayers and merchants having GST registration. The GST council cut down the GST tax rates on a large number products and services.

Moreover, the GST Council in its 31st meeting that was recently held on 22nd December 2018 took some significant decisions in relation with GST rate cuts on services, subject to eligibility of Input Tax Credit on a considerable lot of them. Aside from that, numerous services have now been exempted from GST. All these rate changes are directed towards benefitting the taxpayers and traders having GST registration.

However, the most critical decision taken by the GST Council is with regard to the GST return filing procedure. Very essentially, the council has now further extended the due date for Annual GST Return Filing from 31st March 2019 to 30th June 2019.

#1. What is the due date for filing of Annual GST Returns?

  • Recently, the Central Board of Indirect Taxes and Customs (CBIC) had extended the deadline for filing of GSTR-9 from 31st December 2018 to 31st March 2019 so as to provide sufficient time to taxpayers for illuminating their questions on yearly GST return filing procedure.

  • As per the decision of the council, the deadline for outfitting the yearly returns FORM GSTR-9, GSTR-9A and reconciliation statement i.e. Frame GSTR-9C for the FY 2017 – 2018 will presently be further deferred till 30th June 2019.

#2. What are other changes made in Annual GST Return Filing?

Aside from the due date extension, the GST council has introduced several other changes in the Annual GST Return Filing procedure. Each one of those key amendments are listed below-

  1. Headings in the yearly returns GSTR-9 and GSTR-9A would be amended. The returns would be in respect of supplies 'made amid the year' instead of 'as declared in returns filed amid the year'.

  1. Returns GSTR-1 and 3B pertaining to every month/quarter are to be filed before filing the GSTR-9 and GSTR-9C (reconciliation statement).

  1. Correspondingly, every one of those taxpayers having GST registration under composition scheme need to file all the GSTR-4 returns before filing the yearly GST Return Filing FORM GSTR-9A.

  1. The Input Tax Credit can't be availed through FORM GSTR-9 and 9C.

  1. All invoices related to previous Financial Year Shall be auto-populated in GSTR-9, regardless of the month in the specific GST invoice was reported in GSTR-1.

  1. HSN code will presently be asked just for those internal supplies whose value represents above 10% of the aggregate value of internal supplies.

  1. The value of "non-GST supply" will currently, likewise include the value of "no supply", in GSTR-9.

  1. The reconciliation statement as given in the GSTR-9C will presently, likewise include the verification by taxpayer.

#3. Whether GST Return Filing due date for e-commerce operators additionally delayed?

Yes, the GST council has additionally delayed the due date for outfitting of GSTR-8 return for the long periods of October to December 2018 till 31st January 2019 by the e-commerce operators having GST registration.

#4. What should be said about the taxpayers who wish to benefit input credit?

  • The GST council has introduced some changes with respect to benefiting of input credit amid the FY.

  • Input Tax Credit pertaining to GST invoices issued by a supplier amid FY 2017-18 will be availed by recipient till the due date for filing GSTR-3B of March 2019, subject to specified conditions.

  • Council has now extended the due date for return FORM GST ITC-04 for the period July 2017 to December 2018 till 31st March 2019. This frame comprises of all details of inputs or capital goods that were dispatched or received from a vocation worker amid any quarter.

#5. Will the late fee for late GST Return Filing be waived off?

Yes, of course! The most important decision taken by the GST Council is that, in case of GST Return Filing procedure in FORM GSTR-1, GSTR-3B and GSTR-4 for the months/quarters July 2017 to September, 2018, for which the late fee has been completely waived for all taxpayers. This is for those returns which are filed after 22nd December 2018, i.e. the date on which the 31st GST Council meeting was held, yet at the latest by 31st of March 2019.

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