In response to the demand of the trade industry and ongoing issues on the portal, the Finance Ministry has decided to extend the last date for filing GST annual returns to 30th November, 2019. The general date for annual GST return filing was December 31, 2018.
In the updated order, the union finance minister Nirmala Sitharaman has taken decision to extend the due dates of filing the Form GSTR 9, GSTR 9A and the GSTR 9C till 30th November 2019 (Check Order No. 7/2019-Central Tax).
In a order released by the Central Board of Indirect Taxes and Custom (CBIC) said, “The competent authority has decided to extend the due date for filing FORM GSTR-9, FORM GSTR-9A and FORM GSTR-9C till 30th November 2019.”
The deadline for annual GST return has been extended owing to the continuous demands of various trade bodies. According to them, the format for annual GST Return along with the filing option is not yet available on the GST portal which makes it difficult to speculate things. GST annual return is kind of important deal as it gives a once-in-a-year opportunity to taxpayers to review and rectify their mistakes in any of the returns filed in that particular year. Therefore, businesses must be given sufficient time and resources to analyze, understand and fill the form.
More than one petition was filed to the Finance Ministry, all of which put the focus on the complexity of the GST returns filing process. According to a petition, more time is spent on correcting the returns rather than filing them. In addition, annual returns require the mention of HSN code for inward supplies as well, which was not a mandate for GSTR-3B returns. This further adds to the hassle of the taxpayers.
Read Also: Comparison B/w GSTR 9 Annual & GSTR 9C Audit Return Forms
Taxpayers need time as they will have to review all their past returns and transactions to fill up details in the annual return form. It is going to be even more arduous and demanding for small businesses and traders who have no expertise in such tasks. Since the due dates for GSTR-3B filing have been extended multiple times for different months during the year, the calculation of penalty, interest and the late fee is now more time-consuming.