The Central Board of Indirect Taxes and Customs ( CBIC ) has notified Annual Return GSTR-9 made optional for certain registered persons for Financial Years 2017-18 and 2018 – 2019.
The registered persons whose aggregate turnover in a financial year does not exceed Rs. 2 crores shall have the option to furnish the annual return in Form GSTR-9 for the Financial Years 2017-18 and F.Y. 2018-19 on or before the due date prescribed.
It is an annual return to be filed yearly by taxpayers registered under GST. It consists of details regarding the outward and inward supplies made/received during the relevant previous year under different tax heads i.e. CGST, SGST & IGST and HSN codes. Basically, it is a consolidation of all the monthly/quarterly returns (GSTR-1, GSTR-2A, GSTR-3B) filed in that year. Though complex, this return helps in extensive reconciliation of data for 100% transparent disclosures.
Subscribe Taxscan Premium to view the Judgment
