GST Annual Return and GST Audit deadline to be extended

As the new government takes shape, there are whispers that GST Annual Return and GST Audit deadline for 30th June 2019 might be extended. Some professionals are even having this view that GST Audit might be exempted for FY 2017-18.

Some of the Reasons for this are given below:

First Year of GST implementation

FY 2017-18 was the first year of GST implementation. Taxpayers did many mistakes in that year, as the law and system was new. Reconciliation of those errors would be a difficult task now.

Reduce GST compliance burden:

GST was introduced with the objective that it would be a Good and Simple Tax. However, we have witnessed that taxpayers are facing the increased compliance burden. They have to file, firstly a monthly return, then a quarterly and at last a final annual return. It is recommended that the Govt. should try to reduce the compliance burden specifically for small taxpayers.

No space for amendments or correction of mistakes

Many businesses had been expecting a column in GSTR-9 where they could amend or correct information already submitted in the monthly / quarterly returns. Much to their disappointment, however, no space has been provided for them to make corrections.

Yes Indeed careful reading of GSTR-9 and GSTR-9C proves that GST Annual return filing is not that simple. Also return once filed cannot be revised.

At the end of month of May 2019, when we are almost near towards the due date, indeed one can only work on GSTR 9 and GSTR 9C, instead of waiting for extension.

Also don't you think further extension would be unfair and unprofessional. Do share your views.

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