Small businesses and traders will get a bit more time than their larger counterparts every month in filing Goods and Services Tax (GST) returns as per a new schedule the government announced on Wednesday to reduce pressure on the IT systems.
As per the new schedule, all businesses with INR 5 crore or more sales will continue to file returns related to supplies by 20th day of every month while those with lesser sales will get time till the 22nd or the 24th day of the month depending on which state they are from.
The staggered return filing solution was proposed by Infosys, the company that manages GST Network’s IT infrastructure. “For further improving the performance of GSTN filing portal on a permanent basis, several technological measures are being worked out with Infosys and will be in place by April this year," said an official statement from the finance ministry.
Businesses with sales below INR 5 crore in previous financial year will be divided further in two categories.
Tax filers from Chhattisgarh, Madhya Pradesh, Gujarat, Daman and Diu, Dadra and Nagar Haveli, Maharashtra, Karnataka, Goa, Lakshadweep, Kerala, Tamil Nadu, Puducherry, Andaman and Nicobar Islands, Telangana and Andhra Pradesh can file GSTR-3B returns by 22nd of the month without late fees.This category would have around 49 lakh GSTR-3B filers who would now have 22nd of every month as their last date for filing GSTR-3B returns.
For the remaining 46 lakh taxpayers from the 22 States/UTs of Jammu and Kashmir, Ladakh, Himachal Pradesh, Punjab, Chandigarh, Uttarakhand, Haryana, Delhi, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand and Odisha having annual turnover below INR 5 crore in previous financial year the last date will be 24th.
Experts said the move introduced as a temporary measure, could be made a permanent feature. “The staggered manner of GST return filing would hopefully reduce the load on the portal, as industry tends to file the return on the last date only. While it seems like a temporary measure till the time new returns are introduced from April 2020, given the volume of returns, government may want to explore making it a permanent feature."
The Government of India has announced the extension in the due date for filing of Extension Annual Return (GSTR-9) & Audit (GSTR-9C) for financial year ending on 2018 to December 31, 2019.
Also for financial year ending 2019 the due date has been extended for filing of Annual Return (GSTR-9) & Audit (GSTR-9C) to March 31, 2020.
GSTR 9 is an annual return to be filed yearly by taxpayers registered under GST.
Points to note:
- 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.
- It is a consolidation of all the monthly/quarterly returns (GSTR-1, GSTR-2A, GSTR-3B) filed in that year.
Though complex, this return helps in extensive reconciliation of data for 100% transparent disclosures.
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All taxpayers/taxable persons registered under GST must file their GSTR 9. The following entities are NOT required to file GSTR 9:
-Taxpayers opting composition scheme (They must file GSTR-9A)
- Casual Taxable Person
- Input service distributors
- Non-resident taxable persons
- Persons paying TDS under section 51 of CGST Act.
GSTR-9 filing for businesses with turnover up to Rs 2 crore made optional for FY 17-18 and FY 18-19*.
*As per the decision taken in 37th GST Council meeting held on 20th September 2019. Subject to the notification.
The due date to file GSTR-9 is further extended to November 30, 2019.
The late fees for not filing the GSTR 9 within the due date is Rs 100 per day, per act. That means late fees of Rs 100 under CGST and Rs 100 under SGST will be applicable in case of delay.
- Thus, the total liability is Rs 200 per day of default.
- This is subject to a maximum of 0.25% of the taxpayer’s turnover in the relevant state or union territory. However, there is no late fee on IGST yet.
GSTR-9 is easy to file and needs details that are easily available from your previously filed returns and books of accounts.
- Broadly, this form asks for disclosure of annual sales, bifurcating it between the cases that are subject to tax and not subject to tax.
- On the purchase side, the annual value of inward supplies and ITC availed thereon is to be revealed.
- Furthermore, these purchases have to be classified as inputs, input services, and capital goods. Details of ITC that needs to be reversed due to ineligibility is to be entered.
- Easy personalized services
- Cost effective
- A simple 19-point checklist to identify potential errors
- Invoice-level reconciliation of GSTR-1 with books of accounts
- One-click GSTR-9 data upload to GSTN
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During the course of filing GST Return, a taxpayer may discover additional tax liabilities that tax payer needs to pay. GST tax portal has the provision that allows you to do so. “There is a section in the GST portal that talks about user services. There you need to choose DRC 03 and then opt for annual returns. You can use this to make any additional tax deposits, but need to ensure you have sufficient funds in your electronic cash ledger while using this form to make any additional.
1. Making Voluntary Payment on GST Portal: A facility is given to taxpayers to make payment on voluntary basis, through Form GST DRC-03 (refer Rule 142(2) or 142(3) of the CGST Rules, 2017). Login into GST Portal and navigate to Services > User Services > My Applications and Select the Intimation of Voluntary Payment - DRC – 03, from the Application Type drop-down list.
2. When to make Payment Voluntary Payment: Payment can be voluntarily made by taxpayer for a self-ascertained liability or in response to the show cause notice (SCN) raised by the tax authorities, u/s 73 or 74 of the CGST Act, 2017, within 30 days of issuance of SCN or even before issuance of the SCN.
3. Partial Payment not allowed: GST Portal does not allow for making partial payments of the amount stated in the SCN.
4. Cause of Payment: Payments through Form GST DRC-03 can be made for any causes like Audit, Investigation, Voluntary Payment, SCN, Annual Return, Reconciliation Statement or Others.
5. Saving Draft DRC 03 Application: Draft of Application for intimation of voluntary payment can be saved for a maximum period of 15 days. If the same is not filed within 15 days, the saved draft will be purged. To view the saved application, navigate to Services > User Services > My Saved Applications option.
6. Using Payment Reference Number: If payment has been made and payment reference number (PRN) has been generated, but application in Form GST DRC-03 has not been filed, then in such cases, application available in ‘My Saved Applications’ need to be selected and using PRN already generated, it may be filed. However, if a period of fifteen days has elapsed, then, details in Form need to be filled up again. PRN generated already can be used for filing the application.
7. Filing Form GST DRC 03: Taxpayers are required to file Form GST DRC-03 using DSC or EVC, as the case may be, after making payment. The status will change to “Pending for approval by Tax officer”. However, it may be noted that, no approval of tax officer is needed on earlier application, while making another voluntary payment using FORM GST DRC 03.
8. Acknowledgment by Tax Official: Upon filing of Form GST DRC-03, the tax officer will issue an Acknowledgement in Form GST DRC-04(Acknowledgement of Acceptance of voluntary payment). There is no bar on making another payment on voluntary basis by a taxpayer, pending issuance of acknowledgement by the tax officer.
On account of difficulties being faced by taxpayers in furnishing the annual returns in FORM GSTR-9, FORM GSTR-9A and reconciliation statement in FORM GSTR-9C, the due date for furnishing these returns/reconciliation statements to be extended till November 30, 2019.
"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 August 31, 2019 to November 30, 2019," the Central Board of Indirect Taxes & Customs (CBIC) said in a statement.
Major Highlights of 35th GST Council Meeting Held on June 21, 2019
The 35th GST Council Meeting was held on Friday June 21, 2019 at New Delhi, This was the first council meeting chaired by the new Finance Minister Nirmala Sitharaman.
1. GST Annual return filing Due date For the F.Y. 2017-18, extended till August 31, 2019
The due date for filing Annual return of GSTR-9, GSTR-9A, and GSTR-9C for the FY 2017-18 has been extended till 31 August, 2019.
2. Aadhaar-enabled GST Registration introduced:
In order to ease the current process of GST registration and reduce the paperwork involved, GST Council has given a go-ahead to a new system for verification of taxpayers registering themselves under GST. Aadhaar number shall be linked to the GSTIN while generation.
3. 10% penalty to apply for any delay in depositing profiteered amount
GST Council has approved imposing a penalty of up to 10% penalty for delay in depositing the profiteered amount by more than 30 days. This is a fair measure that would encourage timely compliance by the taxpayer.
4. E-invoicing to start from January 2020
The new system for raising all the tax invoices on the GST portal has received in-principle approval for implementation from 1 January 2020. This applies to only B2B invoicing. By this system, no separate e-way bill will be required in case of e-invoice. Returns to be framed from these e-invoices. A phased implementation is being worked out.
Earlier, the government had fixed Rs 50 crore as the limit for the applicability of e-invoicing.
5. E-ticketing made mandatory for multiplexes
Among other major decisions, the GST Council approved the electronic ticketing system, for multiplexes, having multi-screens. This will help curb cases of tax evasion and the use of black tickets that have been prevalent.
5. Rate cut decision on electric vehicles, chargers & leasing thereof deferred; Committee to submit its report
The decision to cut GST rates for electric vehicles and electric chargers have been postponed to the next Council meeting. The matter has been referred to the Fitment Committee for checking the feasibility of the rate cut. At present, the GST rates for electric vehicles and electric chargers are 12% and 28% respectively.
6. GSTAT to be GST Appellate Tribunal.
The GST council also definitively stated the Goods and Service Tax Appellate Tribunal will be the appellate authority and will adjudicate on appeals arising from central and state tax authorities’ in-house dispute resolution system. The states will decide the number of GSTAT required by them as a result of which there can be two tribunals in a single state.
7. For non-filing of GST returns, E-way bills to be blocked
The law stated that where the GST returns in GSTR-3B/ GSTR-4 is not filed for two consecutive tax periods, e-way bill generation for such taxpayers would be disabled. This will be brought into effect from 21 August 2019, instead of the earlier notified date of June 21, 2019.
The Finance Ministry has extended the deadline for filing GST return for the month of April in 14 districts of Odisha affected by cyclone Fani by a month.
As per notification no 23/2019 & 24/2019 both dated 11-May-2019, issued by Government of India, Ministry of Finance, due date for furnishing FORM GSTR-1 and GSTR-3B, for the month of April 2019, for registered persons in specified districts of Odisha, has been extended.
Due date for furnishing details of outward supply of goods or services or both in FORM GSTR-1, for the month of April, 2019, for registered persons whose principal place of business is in the districts of Angul, Balasore, Bhadrak , Cuttack , Dhenkanal, Ganjam, Jagatsinghpur, Jajpur, Kendrapara, Keonjhar, Khordha, Mayurbhanj, Nayagarh and Puri in the State of Odisha, has been extended till 10th June, 2019.
Due date for furnishing the return in FORM GSTR-3B for the month of April, 2019, for registered persons whose principal place of business is in the districts of Angul, Balasore, Bhadrak, Cuttack, Dhenkanal, Ganjam, Jagatsinghpur, Jajpur, Kendrapara, Keonjhar, Khordha, Mayurbhanj, Nayagarh and Puri in the State of Odisha, has been extended till 20th June, 2019.
The GST Council relaxed the tax exemption limit to Rs 40 lakh from the earlier cap of Rs 20 lakh during its 32nd meeting on Thursday. What changes will this move bring? How is it going to affect the taxpayers? Here are all the details you need to know about the new GST limits:
GSTR-9 form is an annual return form to be filed once in a year by registered Tax payer under GST act. The taxpayer are required to file their first GSTR-9 annual returns pertaining to the Finacial Year 2017-18 by December 31, 2018.
As per CBIC press release dated December 07, 2018 has extended the due date for filing of Annual Return under GST upto 31st March, 2019.
Again, CBIC has by order No. 3/2018 CGST dated December 31, 2018 has further extended the due date for furnishing of annual returns in Form GSTR-9, Form GSTR-9A & Reconciliation statement in Form GSTR-9C for the Financial Year 2017-18 till June 30, 2019.
abiZa can assist you in filing your GST Annual Return for more details click here
GSTR 9 and GSTR 9A is an annual GST return to be filed once in a year by the registered taxpayers under GST including those registered under composition levy scheme. It consists of details regarding the supplies made and received during the year under different tax heads i.e. CGST, SGST, and IGST. It consolidates the information furnished in the monthly/quarterly returns during the year.
Meanwhile, after a recent announcement by the Central Board of Indirect Taxes and Customs, taxpayers are requested to file their annual returns on or before June 30th, 2019.
What is GSTR-9 Annual Return?
GSTR-9 is filed by the taxpayers who are registered under GST or opted for composition scheme. This form contains the particulars of supplies transactions under various heads like CGST, SGST and IGST during the year, as well as details of exports or imports. Apart from this, it includes all the essentials that are present in monthly/quarterly GST return filed by a taxpayer. Moreover, the GSTR-9 return is a summary of a business’s monthly or quarterly returns.
Who needs to file Annual Return in form GSTR-9?
Any registered taxpayer or a taxable person under GST must file GSTR-9. However, the following are the persons who are not considered to file GSTR-9:
1. Non-resident taxable persons
2. Input service distributors (ISD)
3. Person paying TDS
4. Casual Taxable person
What is last date to file GSTR-9?
A taxpayer is supposed to file GSTR-9 before or on 31st December of the financial year. Like, for the financial year 2017-18, Due date is extended to file GSTR-9 is 30th June 2019. For the financial year 2018-19 the due date for filing GSTR-9 is 31st December 2019.
What is the penalty for late filing of GSTR-9?
As per Section 47(2) of Central Goods and Service Tax Act (2017), a person will be fined a penalty of INR 100 per day (CGST) + INR 100 per day (SGST), amounting to a total of INR 200 per day if he/she fails to file GSTR-9 before the due date. However, the maximum amount of penalty a person can be fined is 0.25% of the total turnover.
What are the different types of return under GSTR-9?
There are basically four types of return under GSTR-9:-
GSTR 9: This should be filed by the regular taxpayers who are filing GSTR 1, GSTR 2, GSTR 3.
GSTR 9 A: This should be filed by the persons registered under composition scheme under GST.
GSTR 9B: The same should be filed by the e-commerce operators who have filed GSTR 8 during the financial year.
GSTR 9 C: Taxpayers whose annual income is more that Rs, 2 crores during the FY is liable to file GSTR 9c. Along with this, these taxpayers are also required to get their accounts audited and file a copy of audited annual accounts and reconciliation statement of tax already paid and tax payable as per audited accounts along with GSTR 9C.
Can someone file GSTR 9 if he/she hasn’t filed GSTR 9A or GSTR 9B for a period?
No, Filing of GSTR 9A and GSTR 9B is mandatory before filing of GSTR 9.
File your GST Annual Return by clicking here