The Central Board of Indirect Taxes and Customs ( CBIC ) has clarified that, Taxpayers are required to report only the values pertaining to Financial Year 2018-19, 2017-18 in the GST Annual Return.
Vide notification No. 69/2020 – Central Tax, dated 30.09.2020, the due date for furnishing of the Annual Return for the FY 2018-19 has been extended till 31.10.2020.
The CBIC said that, Certain representations have been received stating that the auto-populated GSTR 9 for the year 2018-19 (Tables 4, 5, 6, and 7) also includes the data for FY 2017-18. However, this information for FY 2017-18 has already been furnished by the taxpayers in the annual return (GSTR9) filed for FY 2017-18 and there is no mechanism to show the split of two years (2017-18 & 2018-19) in FORM GSTR-9 for 2018-19.
The CBIC clarified that the taxpayers are required to report only the values pertaining to Financial Year 2018-19 and the values pertaining to Financial Year 2017-18 which may have already been reported or adjusted are to be ignored. No adverse view would be taken in cases where there are variations in returns for taxpayers who have already filed their GSTR-9 of Financial Year 2018-19 by including the details of supplies and ITC pertaining to Financial Year 2017-18 in the Annual return for FY 2018-19.
The CBIC also said that taxpayers are requested to avail of the benefit of the extended due date and file their Annual Return (FORM GSTR-9) at the earliest to avoid last-minute rush. It may be noted that furnishing of the Annual Return in FORM GSTR-9 is mandatory only for taxpayers with aggregate annual turnover above Rs. 2 crore while the reconciliation statement in FORM GSTR-9C is to be furnished only by the registered persons having aggregate turnover above Rs. 5 crores.