GST returns deadline extended to March 31

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Published: December 9, 2018 5:41:21 AM

The government said it would soon make the forms available on the GSTN portal.

There are four annual forms for various categories of taxpayers. These were released by the tax department in September.

The government has extended the deadline for filing annual GST return forms for 2017-18 to March 31 from December 31 following widespread appeals to the government by the industry. While the industry pointed out that the tax department had still not made the forms available on the GST Network (GSTN) portal, it also complained about the cumbersome requirements of the forms.

The government said it would soon make the forms available on the GSTN portal. There are four annual forms for various categories of taxpayers. These were released by the tax department in September.

Abhishek Jain, tax partner, EY, said: “This extension was quite sought after by the industry, specifically by those who have been struggling to collate the information required to be disclosed in GSTR-9 and GSTR-9C.”

Although the annual forms require the firms to consolidate information already filed in the monthly or quarterly returns, some of the provisions make the exercise cumbersome.

For instance, experts said requirement of filing input tax credit availed under three different heads — inputs, input services and capital goods — would lead to reworking on the accounting entries by the assessees, as these details were not required in the monthly/quarterly returns.

Archit Gupta, founder & CEO, ClearTax, said, “Given that filing for GSTR-9 had not begun online, an extension was required. GSTR-9 form requires extensive reporting at a state level, for which businesses have to perform detailed reconciliation. Besides, several aspects of the form must also be re-looked by the government, including allowing credit, which could not be claimed by the time of filing of September 2018.”

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