On Monday, the Finance Ministry said that the last date for filing goods and service tax (GST) annual return has been extended by three months to November 30. The last date for filing annual returns for the financial year 2017-18 has been extended by three months as against the previous due date of August 31. This should help those taxpayers who are facing technical problems while furnishing annual returns.
The Ministry of Finance said in a statement, “It is hereby informed that the last date for furnishing of Annual Return in the Form GSTR-9 / Form GSTR-9A and Reconciliation Statement in the Form GSTR-9C for the Financial Year 2017-18 is extended from 31st August 2019 to 30th November 2019.” The extension will benefit taxpayers who are facing certain technical problems while filing an annual return.
Tax professionals across the country had been encouraging Union Finance Minister Nirmala Sitharaman for the extension of the due date of filing of income tax return (ITR) and GST return. Businesses were waiting for this extension due to system-related issues and ambiguities in reporting. This will be the first annual return that taxpayers would be filing after the implementation of the new indirect tax regime.
GSTR-9 is an annual return which is filed yearly by taxpayers who are registered under GST. It comprises of details regarding the outward and inward supplies made or received under different tax heads. GSTR-9A is the annual return filed by composition dealers who pay a flat GST rate without claiming an input tax credit (ITC). Lastly, GSTR-9C is an annual return filed by businesses with an annual turnover of over ₹ 2 Crore which has to get their accounts audited. These businesses share a copy of their audited annual accounts and a reconciliation statement in form of GSTR-9C.