R S Arora & Co., Advocates

24/02/2024

Mussavir Ghazal now available on all leading Music Stores online.

ADR Music India Released official Video of Ghazal "MUSSAVIR" .Make Sure to Like the video and Share it. Subscribe to our channel for more new music.Album : M...

11/06/2019

*GST New Return Advisory - 11.06.2019*

*CBIC has issued a press release* stating that new returns will be made mandatory in phased manner as under:

*A. For Taxpayers with Turnover > INR 5 crores:*

1. Return in *Form GSTR-3B* is required *to be filed till Nov, 2019*. The *First New Return* in *Form GST RET-1* will be filed *for the monthly tax period ending in Dec, 2019* which will due *in January, 2020*.

2. Return in *Form GSTR-1* is required to be *filed till Sept, 2019* and then the same shall be *replaced* by a New Return *GST ANX-1* for the months ending *Oct, 2019 and Nov, 2019*.

_*Note - Dec, 2019 on-wards*, *GSTR-3B and GSTR-1* will be combined in *New Return GST RET-1* and the taxpayer is only required to file the same._

*B. For Taxpayers with Turnover < = INR 5 crores:*

1. Return in *GSTR-3B* and *GSTR-1* is required *to be filed till Sept, 2019*. The *First New Return* in *GST RET-1* will be filed *for the quarterly tax period ending in Dec, 2019* which will due *in January, 2020*.

_*Note - However, Taxpayer will start paying monthly* tax by filing *GST PMT-08* from tax period of Oct, 2019 on-wards_ as the payment is to be discharged on monthly basis.

*SHORT NOTES:*

*Large Taxpayers* (Turnover > INR 5 crores)

# # *GSTR 3B* (Till Nov, 2019), *GSTR-1* (Till Sep, 2019), *GST ANX-1* (Oct, 2019 and Nov, 2019) and *then from Dec, 2019, Only GST RET-1 shall be filed.*

*Small Taxpayers* (Turnover < = INR 5 crores)

# # *GSTR-3B and GSTR-1* (Till Sep, 2019), *GST PMT-08* (every month w.e.f. Oct, 2019 for payment of tax) and *GST RET-1* w.e.f. *quarter ended Dec, 2019*.

_*Note - From January, 2020, GSTR-3B and GSTR-1 will be completely replaced with GST RET-1 and GST PMT-08.*_

09/03/2019

Annual Return (GSTR-9) active on online portal and to be filled by 30th June 2019

You would be aware that the Central Board of Indirect Taxes and Customs (‘CBIC’) has earlier notified the formats for Annual Returns. The Annual return forms are now active on the GST portal upon login.

Taxpayers can now file their Annual Return in GSTR-9 on the GST portal.

Some of the important points for consideration are given below:


The Annual Return is available as both an offline as well as an online utility. In case of an offline tool, the same needs to be filled and subsequently uploaded on the GST portal.
All pending forms in GSTR - 1 and GSTR – 3B have to be filed before filing the Annual Return.
The Annual return once filed cannot be revised. Hence, taxpayers should exercise utmost caution while filling and submitting the Return.
The Input Tax Credit in the Annual Return would be auto-populated by the System. Taxpayers need to verify and reconcile the same with books before filing the Annual Return.
A Nil Annual Return can be filed in certain circumstances.
Due date fo GST Annual Return

The due date for filing the Annual Return was 31st December 2018, which was extended till 31st March 2019 via press release and further extended to 30th June 2019 vide Removal of Difficulties Order No. 03/2018 - Central Tax dated 31 December 2018