Due date for filing annual GST returns extended till October 31

Shivani Bhakoo

Tribune News Service

Ludhiana, September 30

The date for filing annual GSTR-9 and GSTR-9C returns for the financial year 2018-19, has been extended till October 31. Earlier, returns were to be filed by September 30. Till morning, taxpayers were worried and confused between filing return and extension of date by the government.

A city-based chartered accountant Mantosh Gupta said it was mandatory for all registered persons having an aggregate turnover of more than Rs2 crore or those who opted to file annual return, to file their return.

“GSTR-9C is the annual return for the FY 18-19,which has to be filed by registered person, whose annual turnover is above Rs 2 crore (Annual return + audited annual accounts + reconciliation statement in GSTR-9C). For annual turnover in excess of Rs2 crore, but less than Rs 5 crore, it is optional. However, it is mandatory for those having annual turnover above Rs5 crore,” added Gupta. Major reason for the postponement of date for filing return was Covid-19, said Gupta.

“It will result in conclusion of all monthly/quarterly returns. Necessary corrections of mistakes during the year could be done while filling these returns. Besides, all GST and related accounts are reconciled while filling this return and in future chances to receive notice from the GST Department are minimised,” added Gupta while talking about benefits of filing return.

“It is advised to file return at the earliest without waiting as various issues arise on last date and all corrections/reconciliations could be done in time,” said Gupta.