Government notifies new Annual Return Form for GST

5 Sep
Government notifies new Annual Return Form for GST

The government has notified a new return form GSTR-9 for Goods and Services Tax (GST) that will have to filed for the full year. 

GSTR-9 return needs to be filled by the normal taxpayers , while composition taxpayers will have to file GSTR-9A. The last date for filing the annual return form for Financial Year 2017-18 is December 31, 2018. 

The first annual filing will cover the period from July 1, 2017 to March 31, 2018. 

GST rolled out multiple Central and State Taxes such as Value-Added Tax, Service Tax, Entry Tax, Octroi, Excise Duty w.e.f. from July 1, 2017. 

Taxpayers were from the beginning required to file an annual return besides the monthly and quarterly returns, but the annual format was not notified following compliance and Information Technology (IT) issues. 

According to Filing Samadhan, "The long-awaited annual return format is now released. This looks simpler from the earlier draft return format which was recommended to the Government. There was an apprehension that the annual return date may be pushed since the format was not freezed by government till now. It is critical for tax payers to ensure that all the data required for annual return be collated along with reconciliations.” 

In the new GSTR-9 and GGSTR-9A, the details consolidated details of purchases and Input Tax Credit (ITC) needs to be filled.