Things to comply with before finally signing off the compliances of FY 2017-18 under GST By CA Ruhi Kalra

The Central Government has recently enabled the form GSTR-9 “the Annual Return” on the GSTN Portal.

Annual return is nothing but an auto-populated summary of GSTR 1 and GSTR 3B.

As per the provisions stipulated in the CGST Act, 2017 the due date for filing the same was 31.12.2018. Since 2017-18 was the first year under GST, the GST council by way of many amendments has extended the due date to file GSTR 9/9A till 30.06.2019. Further, it has made the following amendments so that the taxpayer can rectify the errors/omission done while filing the GSTR-1 and GSTR 3B for the year 2017-18 and a correct picture is reflected in the Annual Return.

GSTR 1 Related Amendments:

  • If the taxpayer has missed out/made errors on uploading any of the output supply details, he can upload the same by uploading the details in GSTR 1 for the month of March 2019. The due date to file the GSTR 1 for the taxpayers whose turnover exceeds INR 1.5 Crore is 11.04.2019, and the due date to file the GSTR 1 for the taxpayers whose turnover does not exceed 1.5 Crore is 30.04.2019.
  • If you have made export payments with payment of taxes and the IGST refund has not been sanctioned yet, the rectification of errors has to be done in Table 9A in the GSTR 1 by the due dates mentioned in the previous point.
Adjustments pertaining to GSTR 3B:

Input tax credit pertaining to the year 2017-18 can be availed till the due date of the filing of GSTR 3B for the month of March 2019, i.e. by 20.04.2019.

Checking GSTR 2A:

GSTR 2A is the summary of all the purchases/services availed, which is auto-populated on the filing of GSTR 1 by the respective supplier. The government has given the last chance to follow-up with the suppliers so that they file their respective GSTR 1 of the supplies made to the taxpayer so that the input tax credit is reflected in tax payer’s GSTR 2A and he can avail the input credit pertaining to the year 2017-18that was not getting reflected in the GSTR 2A earlier.

Filing of the pending GST Returns for the year 2017-18

Late fee payable under section 47 of the CGST Act is waived for the registered persons who failed to furnish the GSTR 1, GSTR 3B and GSTR-4 for the months of July 2017 to September 2018 by the due date but furnishes the said return between the period 22nd December 2018 to 31st March 2019. So it is advisable, if any of the returns for the year 2017-18 have not been filed, the same should be filed by 31.03.2019.

With all these adjustments, the taxpayer should reconcile the outward supplies and inward supplies with its books of accounts so that the books also reflect the correct picture.

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