Amidst the clamour to extend the deadline of filing GST Annual Return and Reconciliation Statement in Form GSTR-9 (for normal taxable person)/ Form GSTR-9A (for composition taxpayers) and Form GSTR-9C for GST Audit by due date of December 31, 2018 for the Financial Year 2017-18, the CBIC on December 7, 2018, has extended the due date for filing Form GSTR-9, Form GSTR-9A and Form GSTR-9C till March 31, 2019. Indeed this extension was much awaited in the light of utilities for all these forms were not made available to the trade till date and also it lacks preparation of the Industry as well. This is definitely a golden time for the Industry Inc to prepare themselves on critical aspects of filing these forms.
Considering the complexity of Form GSTR-9 and GSTR-9C, Mr. Bimal Jain, Chairman, Indirect Tax Committee, PHD Chamber of Commerce, had highlighted the intricacies of outward supply for filing up Form GSTR-9 (Annual Return) and GSTR-9C (Reconciliation Statement) along with discussions on the critical issues therein which the taxpayer may face and which requires immediate attention of the Government, in the GST Conclave held on December 3, 2018 at PHD House.
You can access the complete video of his theme presentation “Intricacies of Outward Supply for filing up GSTR - 9 & GSTR - 9C” as under
Trust you will find this video helpful.
In terms of Section 44(1) of the CGST Act, 2017, every registered person, other than an Input Service Distributor, a person paying tax under Section 51 (TDS Collector) or Section 52 (TCS Collector), a casual taxable person and a non-resident taxable person, shall furnish an Annual Return for every financial year on or before the 31st day of December following the end of such financial year. The Government vide Notification No. 39/2018 – Central Tax dated September 4, 2018 has notified the format of Annual Return Form GSTR-9 (for normal taxpayers) and Form GSTR-9A (for composition taxpayers).
Further, every registered person whose aggregate turnover during a financial year exceeds INR 2 crores shall get his accounts audited and furnish a copy of audited annual accounts and a reconciliation statement, duly certified, in FORM GSTR-9C, format of which is also notified vide Notification No. 49/2018 – Central Tax dated September 13, 2018.