Business

Deadline For Filing GST Annual Returns Extended Till March 31

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Deadline For Filing GST Annual Returns Extended Till March
31, filing Form GSTR-9, GSTR-9A and GSTR-9C till March 31, 2019. The annual
returns form in which businesses registered under the GST have to provide consolidated
details of sales, purchases and input tax credit (ITC) benefits accrued to them
during 2017-18 fiscal was notified in September. The last date for filing was
set at December 31, 2018. In a statement, the Central Board of Indirect Taxes
and Customs (CBIC) said, "the competent authority has decided to extend
the due date for filing Form GSTR-9, GSTR-9A and GSTR-9C till March 31, 2019.

Moreover, they are unaware that annual return is the last
opportunity for assessees to rectify their previously filed return with the
department for the concerned year. This would help avoid any denial of input
tax credit which in turn could also be resulted into unwanted tax recovery, it
said.

PwC Partner and Leader (Indirect Tax) Pratik
Jain said, "Industry, as well as consultants, were struggling with
December 31 deadline, given the volume of work involved including preparing a
virtual P&L at a State level".

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