Businesses get more time to file annual GST returnsa
January, 03rd 2019
The government has extended the due date for filing annual goods and services tax returns by three months till 31 March 2019
The government has extended the due date for filing annual goods and services tax (GST) returns by three months, giving relief to businesses struggling to meet compliance norms by the year end.
The Central Board of Indirect Taxes and Customs (CBIC) said in a statement that the due date for filing GST return forms 9, 9A and 9 C relating to details of sales and purchases made had been extended to 31 March 2019.
These return forms consolidate the information already given in the monthly or quarterly returns. Annual returns are to be filed by regular taxpayers as well those paying a concessional flat tax rate under the Composition Scheme. Large businesses also have to submit a tax audit report along with their annual return 9C.
Industry chambers have been seeking extra time to file annual returns since compiling itemised details of purchases and sales takes time. The CBIC said the return forms will be available on the GST common portal shortly.
“This was quite a sought-after extension by the industry, specifically for those who were struggling to collate the information required to be disclosed in GSTR-9 and GSTR-9C,” according to Abhishek Jain, tax partner, EY.