GST Annual Return: Taxpayers are required to report only the values pertaining to Financial Year 2018-19, 2017-18, clarifies CBIC


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Annual Return: Taxpayers are required to report only the values pertaining to Financial Year 2018-19, 2017-18, clarifies CBIC October 9, 2020.

The Central Board of Indirect Taxes and Customs ( CBIC ) has clarified that, Taxpayers are required to report only the values pertaining to Financial Year 2018-19, 2017-18 in the GST Annual Return.

  • Vide notification No. 69/2020 – Central Tax, dated 30.09.2020, the due date for furnishing of the Annual Return for the FY 2018-19 has been extended till 31.10.2020.
  • The CBIC said that, Certain representations have been received stating that the auto-populated GSTR 9 for the year 2018-19 (Tables 4, 5, 6, and 7) also includes the data for FY 2017-18. However, this information for FY 2017-18 has already been furnished by the taxpayers in the annual return (GSTR9) filed for FY 2017-18 and there is no mechanism to show the split of two years (2017-18 & 2018-19) in FORM GSTR-9 for 2018-19.
  • The CBIC clarified that the taxpayers are required to report only the values pertaining to Financial Year 2018-19 and the values pertaining to Financial Year 2017-18 which may have already been reported or adjusted are to be ignored.
  • No adverse view would be taken in cases where there are variations in returns for taxpayers who have already filed their GSTR-9 of Financial Year 2018-19 by including the details of supplies and ITC pertaining to Financial Year 2017-18 in the Annual return for FY 2018-19.
  • The CBIC also said that taxpayers are requested to avail of the benefit of the extended due date and file their Annual Return (FORM GSTR-9) at the earliest to avoid last-minute rush.
  • It may be noted that furnishing of the Annual Return in FORM GSTR-9 is mandatory only for taxpayers with aggregate annual turnover above Rs. 2 crore while the reconciliation statement in FORM GSTR-9C is to be furnished only by the registered persons having aggregate turnover above Rs. 5 crores.

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