Due Date To File Gst Annual Returns Extended Fruther To June 2019 And Other Favorable Decisions

GST council in meeting held on 22 December 2018 has decided to extended due date to file GST Annual Returns in form 9, 9A and reconciliation statements in Form 9C.

The new due date will June 30, 2019.

Due date to file GST annual returns was 31 December, 2018. However earlier notification was issued to extend due to 31 March 2019.

Finally in GST council meeting, the new date for filing Annual Returns is made 30 June 2019.

Along with due date extension, even dates for new returns is extended. Council said new GST returns will be issued on trial basis from April 2019 and will be made mandatory from June 2019.

New GST returns, GST Sugam and GST Saral will replace existing GST returns GSTR-3B and GSTR-1. New returns will be made mandatory after June 2019.

Lok Sabha election will be held in May 2019 and government don't want to take any further risk after recent election results of 5 states.

Points to be noted for Annual Returns

1. No input allowed in Annual Returns
2. GSTR-1 data will be auto populated
3. GST annual return can be filed only after filing all GST monthly and quarterly returns
4. HSN code can be given only for items higher than 10% of total turnover volume

Further one can avail Input Tax credit of finance year 2017-18 till GSTR-3B of March 2019.

One cannot generate E-way bill if 2 months returns are not filed.

Late Filing fee for GSTR-1, GSTR-3B and GSTR-4 waived off

Late filing fee is waived off for all returns from July 2017 to September 2018. However this benefit is available to only those filing returns from 22/12/2018 and this waiver is applicable till 31/03/2019.

However, biggest question remains whether fee will refunded to those who have already paid late filing fee. We don't think GST department will refund or credit the fee paid back to tax payers.