Optional filling Annual GST Return-possible impact
GSTR 9 Annual Return for Turnover less than 2 Crore, is optional, and if taxpayer chose not to filed before 30th November it would be deemed to filed on due date.
The Annual Return filing date for FY 2017-18 has been extended three-time and recently the government has extended the last date of filing annual goods and services tax (GST) return from 31st August to 30th November 2019. In the 37th GST Council meeting held on 20th September 2019, it was decided that GSTR-9 filing for businesses with turnover up to Rs 2 crore would be made optional, but notification issued has some inherit flaws as usual between what coucilc proposed and what actual notification issued.
Recent Notification issued by CBIC vide its Notification No:49/2019 dated 9th October 2019 has stated that the Central Government, on the recommendations of the Council, hereby notifies those registered persons whose aggregate turnover in a financial year does not exceed two crore rupees and who have not furnished the annual return under sub-section (1) of section 44 of the said Act read with sub-rule (1) of rule 80 of the Central Goods and Services Tax Rules, 2017 (hereinafter referred to as the said rules) before the due date, as the class of registered persons who shall, in respect of financial years 2017-18 and 2018-19, follow the special procedure such that the said persons shall have the option to furnish the annual return under sub-section (1) of section 44 of the said Act read with sub-rule (1) of rule 80 of the said rules. Provided that the said return shall be deemed to be furnished on the due date if it has not been furnished before the due date.
It means if you chose not to file annual return within due date for the reason that your turnover was below 2 crore, it will be presumed you have filed annual return. Now questions is what will be annual return in such case?. It may be auto populate data annual return or it may be summary of GSTR 3 B and GSTR 1 summary deemed to be annaul return. In author view auto populate data will be presumed to be and your annual return GSTR 9 and lateron you will not have option to correct it.
So, in author view no one will opt for non filing of Annual return options as provided by Notification 49/2019. Since, 2017-18 was the 1st year and everyone of us has committed some mistake while filing GSTR 3B or GSTR 1.
Hence, Government has indirectly didn’t give any options not to file Annual Return GSTR 9 instead In author view it should be filed with due reconciliation.