GSTR9 & GSTR9C due date for FY 2018-19 extended to 31.10.2020: Annual Return Filing, Format, Eligibility

 

GSTR9 & GSTR9C due date for FY 2018-19 extended to 31.10.2020

GSTR9 & GSTR9C due date for FY 2018-19 extended to 31.10.2020

As of Now Due date of filing GST Annual Return and GST Audit for FY 2018-19 was 30th September 2020. But in light Covid-19 Pandemic it was highly anticipated that due date should be extended. Now Due date of filing GST Annual Return and GST Audit for FY 2018-19 has been extended to 31st October 2020.

GSTR-9 is an annual return to be filed yearly by taxpayers registered under GST. It consists of details regarding the outward and inward supplies made/received during the relevant previous year under different tax heads i.e. CGST, SGST & IGST and HSN codes

What is GST Annual Return Form GSTR 9?

The GSTR 9 is a GST annual return form to be filed by the regular taxpayer once a year with all the consolidated details of SGST, CGST and IGST paid during the year. Here, SAG Infotech Pvt. Ltd. briefs all the details and rules and regulations for GSTR 9 online filing along with a step-by-step compliance procedure.

39th GST Council Meeting Update

·        GST council relieved the MSMEs to furnish reconciliation statement in the form GSTR 9C for FY 2018-19 for aggregate turnover of INR 5 crore.

·        Reconciliation Statement and annual return for the financial year 2018-19 due date extended till 30th June 2020. Note: Now the due date is extended by CBIC till 30th September 2020.

·        Annual return and the Reconciliation Statement for the financial year 2017-18 and 2018-19 late filing penalty waived off for the taxpayers having turnover lower than Rs. 2 crores. Read Official Press Release

GST Return and Accounting

 

Sales	GSTR 9	GSTR 9C
Up to 2 Cr	Optional	N/A
More than 2Cr. – 5 Cr	Filling is mandatory	Optional (Benefit Given)
More than 5Cr	Filling is mandatory	Filling is mandatory

 

Here, we are going to discuss the complete GST Annual Return form under the goods and services tax.

Latest News/Updates of GSTR 9 Form

·        GSTR 9 is an annual return form released by the GST network for filing the complete summary of outward supply and offers whole information of a year. The GSTR 9 is for all the registered taxpayers under the goods and services tax regime and have to opted while registering for the GST scheme. Recently the GSTN department has issued complete details on the downloading documents needed for the table 8A of the form GSTR annual return form. The notification includes the steps to download as well as some points based on the filing and downloading.

·        CBIC has updated the last date of GSTR 9 form till 30th September for FY 2018-19

·        “The institute of cost accounts of India has requested to the ministry of finance for not increasing the threshold limit of GST Annual Return & Audit form.”

·        GSTR 9 & 9C filing for FY 2018-19 has live on the GST portal but in table 8A of GSTR 9 auto-populate ITC as per GSTR 2A function is not working.

·        The GSTN has recently unveiled the approx number of a large taxpayer who has filed the annual return form i.e. GSTR 9 and GSTR 9C audit form rounding to average 91% to 92 % respectively by 12th February 2020.

·        Also the Offline tool of GSTR-9C (Version 1.5) updated version is available on the portal since 24-12-2019. The offline utility helps the taxpayers to prepare offline GSTR 9

·        The given notification asserts that the amendments and relevant changes have been done in the GSTR 9 and GSTR 9C which is given in the Notification No. 56/2019 dated 14.11.2019. Also, the said changes will be reflected in the application software and the offline tools by 21st Dec. 2019.

·        The central board of the indirect taxes department has once again revised the due date of GSTR 9 & 9C.

·        GST Annual Return (GSTR 9, 9A & 9C) May Be Discarded For Small Taxpayers (the notification may be disclosed by GST Council in the next 37th meeting). 

·        Easy Guide to GSTR 9C Part II Reconciliation of Gross Turnover.

Simplify GSTR 9 Filing by CBIC

1. 4B To 4E now be filled net of Credit Notes, Debit Notes and Amendments, Rather than separate reporting in 4I, 4J 4K & 4L;
2. Furthermore, Table 5A to 5F now be inserted with the net of Credit Notes, Debit Notes, and Amendments, Rather than reporting in individually in 5H, 5I, 5J & 5KJ;
3. If Table 5D, 5E & 5F (exempted, nil rated and Non-GST supply) – Single figure can be filed corresponding to EXEMPTED in 5D;

Table 6 – ITC availed through the FY

1. In Table 6B, 6C, 6D & 6E the registered person can report the complete input tax credit below the “inputs” row only;

Table 7 – ITC Reversal

1. Parts of table 7A to 7E can be listed under 7H (Other Reversal);
2. But, TRAN I & II reversal has to be listed respectively;

Table 8 – Other ITC related data

1. The registered taxpayer can upload the items for the entries in Table 8A to 8D (Reconciliation of GSTR 2A with GSTR 3B) duly signed, in PDF format in Form GSTR-9C (sans the CA certification);
2. Table 15, 16, 17 & 18 (HSN summary also) is not mandatory

Meaning of Filing GSTR 9 (GST Annual Return Form)

It is meant for a return form which is required to be filed once in a year by the regular taxpayers concerning GST regime. It is further categorized in IGST, SGST, and CGST. Under the heads, the taxpayers fill information about supplies made and received in a year separately. It is a consolidated form that comprises the details mentioned in the monthly/quarterly returns in a year.

Who is Required to File GSTR 9 (GST Annual Return Form)?

All the registered regular taxpayers are required to file a form under the GST regime except below list:

·        Taxpayers opting composition scheme

·        Casual Taxable Person

·        Non-resident taxable persons

·        Persons paying TDS

·        Input service distributors

What are Different Sorts of Annual GST Returns?

Different kinds of annual return under GST:

·        GSTR-9 Annual Return Form: The regular taxpayer who files 1 and 3B forms are required to file the GSTR-9.

·        GSTR-9A: The composition scheme holder under GST is required to furnish GSTR-9A.

·        GSTR-9B: All the e-commerce operators who have filed GSTR-8 are required. to file GSTR-9B in a financial year.

·        GSTR-9C: The taxpayers whose annual turnover cross Rs. 2 crores are required to file GSTR-9C in a financial year. All those taxpayers are needed to obtain the accounts to be audited and furnish a copy of the reconciliation statement of tax already paid, audited annual accounts, and tax payable according to the audited accounts with GSTR-9C.

Due Date Extension for Filing GST Annual GSTR 9 Return Form

Once again, the CBIC department has extended the due date of GSTR 9 annual return form for both financial year

·        Financial Year 2018-19 – 30th September 2020 

o   Group 1: Chandigarh, Delhi, Gujarat, Haryana, Jammu and Kashmir, Ladakh, Punjab, Rajasthan, Tamil Nadu, Uttarakhand- 5th February 2020

o   Group 2: Andaman and Nicobar Islands, Andhra Pradesh, Arunachal Pradesh, Assam, Bihar, Chhattisgarh, Dadra, and Nagar Haveli and Daman and Diu, Goa, Himachal Pradesh, Jharkhand, Karnataka, Kerala, Lakshadweep, Madhya Pradesh, Maharashtra, Manipur, Meghalaya, Mizoram, Nagaland, Odisha, Puducherry, Sikkim, Telangana, Tripura, Uttar Pradesh, (Corrigendum) West Bengal, Other Territory- 7th February 2020

Note: “Central Board of Indirect Taxes & Customs (CBIC) notified the amendments regarding the simplification of GSTR-9 (Annual Return) and GSTR-9C (Reconciliation Statement) which inter-alia allow the taxpayers to not to provide a split of input tax credit availed on inputs, input services, and capital goods and to not to provide HSN level information of outputs or inputs, etc. for the financial year 2017-18 and 2018-19.”

Penalty Norms When you Miss the Due Date of GSTR-9 Filing

·        As per the penalty provisions of the GSTR-9 annual return form, the taxpayer has to pay Rs. 200 per day as a penalty in which Rs. 100 consists of SGST and Rs. 100 for CGST. Also, it is to be noted that the total penalty cannot exceed 0.25% of the total turnover on which the said penalty is being levied.

GST Annual Return Form Major Revisions By Council’s 31st Meeting

·        Change of headings in the forms to specify that the return in FORM GSTR 9 FORM GSTR-9A would be related to supplies etc. ‘made during the year’ and not ‘as declared in returns filed during the year’

·        FORM GSTR-1 & FORM GSTR-3B returns are required to be filed before the filing of return FORM GSTR-9 & FORM GSTR-9C

·        FORM GSTR 9 & FORM GSTR-9C cannot be used to avail ITC

·        The information would be auto-populated in Table 8A of FORM GSTR-9 for all invoices pertaining to previous FY (irrespective of the month in which such invoice is reported in FORM GSTR-1)

·        Value of “non-GST supply” including the value of “no supply” may be reported in Table 5D, 5E, and 5F of FORM GSTR-9

How to GSTR 9 Return Offline Tool (v1.2)

The main purpose behind inventing and designing an excel based GSTR-9 offline tool is to facilitate the taxpayer in the offline preparation of the GSTR-9 return. To download the utility, there are some systems requirements. So, before downloading the same, we must ensure that our system is compatible.

GST Registration Application