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GST Annual Return filing waived off for tax payers having turnover below 2 Cr

The GST Council, in its 37th meeting held at Goa on 20th September provided relief to MSMEs by allowing them waiver to file GSTR 9 and GSTR-9A

GST council has given a big relief to MSMEs by waving the requirement of filing Annual returns for FY 2017-18 and FY 2018-19 in the following cases:

  • Form GSTR – 9A in case of Composition dealers
  • Form GSTR – 9 in case of the taxpayers having an aggregate turnover up to Rs. 2 Crores (However, in this case, it is optional for such taxpayers to file returns). Resultantly, Taxpayers having turnover above 2 crore are still required to file GSTR – 9

However, the due date for filing annual return forms and annual audit forms for the financial year 2017-18, i.e. GSTR-9, GSTR-9A, and GSTR-9C respectively have already been extended from August 31 to November 30, 2019.

Furthermore, for the simplification of GSTR – 9 forms (Annual Return) and reconciliation statements, a committee of officers will be constituted.

Another relief for all taxpayers liable to file GSTR – 3B and GSTR – 1 was announced in GST council meeting where the new GST return system will now be introduced from April, 2020, which was going to be introduced from October 2019.

This move was taken to give ample opportunity to taxpayers as well as the system to adapt.

Accordingly specifying the due date for furnishing of return in FORM GSTR-3B and details of outward supplies in FORM GSTR-1 for the period October, 2019 – March, 2020

Read More: 37th GST Council Updates: Law and Procedural changes

Author: Niranjan Reddy

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