GST Annual filing waived off for taxpayers below Rs 2 cr turnover.

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GST Annual filing waived off for taxpayers below Rs 2 cr turnover.


  • The GST Council, in its 37th meeting held at Goa, provided relief to MSMEs by allowing them waiver to file GSTR 9 and GSTR-9A.
  • Announcing the relaxation in the filing of annual returns for MSMEs for FY 2017-18 and FY 2018-19, a statement said waiver of the requirement of filing FORM GSTR-9A for Composition Taxpayers for the said tax periods will be provided.
  • Additionally, filing of FORM GSTR-9 for those taxpayers who have an aggregate turnover up to Rs. 2 crores made optional for the said tax periods.
  • There is also an extension of the last date for filing of appeals against orders of Appellate Authority before the GST Appellate Tribunal as the Appellate Tribunals are yet not functional.
  • In order to nudge taxpayers to timely file their statement of outward supplies, the imposition of restrictions on availing of the input tax credit by the recipients in cases where details of outward supplies are not furnished by the suppliers in the statement under section 37 of the CGST Act, 2017
  • In another significant announcement, the new return system which was to be introduced from October 2019, will now be introduced from April 2020. The statement said this is in order to give ample opportunity to taxpayers as well as the system to adapt and accordingly specifying the due date for furnishing of return in FORM GSTR-3B and details of outward supplies in FORM GSTR-1 for the period October 2019 - March.



 

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