gst annual return featured 2019-20

GST Annual Return due date and Input Tax Credit of FY 2019-20


What is the Annual GST Return Due Date for FY 2019-20?

The official answer is 31st December 2020. Therefore, if you are planning to file your GSTR 9/A and 9C then you should read out this before the last date runs out. However, the due date may get extended for a further period. If it does not get extend they you have an option to file it by paying the late fees.

Related: GST Annual Return Extension notification

As you must be aware, that the annual return date for FY 2018-19 was extended till 30th December 2020. Therefore, it states that many taxpayers are trying to know when to file the GSTR 9 for FY 2019-20 and what is the last date to avail input tax credit for FY 2019-20.

Last Date to file GSTR 9 and 9C for FY 2019-20

Since I have filed the GST annual return of 2018-19, do I need to file the GSTR 9 annual return of 2019-20, before 31st December 2020?. Here is the Clarification on this matter.

According to the CGST, Section 44(1) of the CGST Act 2017, the due date of the GST annual return is 31st December following the end of such financial year. This means the annual return of 2019-20 must be filed before 31st December 2020.

However, we expect the government will extend this date till March 2021. This is because the deadline for 2018-19 is still active. Also, recently the GST portal has announced that the GST Annual return for 2019-20 is available to file.

Therefore, on this short notice and within the limited time period taxpayers could not file their return till the 31st December 2020.

Last date to avail Input Tax Credit of FY 2021-2022

Since there are 2.5 months, to file GST annual return for Fy 2021-22, you must be thinking you have enough time as it may get extended. However, this is not true in the case of availing input tax credit.

This is because, as per CGST Section – 16(3) input tax credit of the previous financial year i.e 2021-22 must be availed before filing the Returns as per CGST section 39(1).

Therefore, the CGST section 39(1) defines the time limit as the 20th of Next month for filing inward and outward supply returns. According to this rule, now one needs to avail the ITC of 2021-22 before 30th November 2022. Below are some of the suggestions you should go through before proceeding filing GSTR 9 & 9C.

GST Annual Return 2021-22 Suggestions

  • Reconcile the input tax credit availed in GSTR 3B of 2021-22 with the GSTR 2B return. You can download GSTR 2B from the GST portal.
    • Please note that as per CGST section 42, the registered person shall match his inward supply details with that of outward supplies furnished by the supplier. In case of any discrepancy, the receiver shall inform the supplier and get it rectified within the time limit.
  • Ensure that you have availed the input tax credit of missed inward supply invoices before 30th November 2022.
  • Input tax Credit on credit notes raised by the recipient of goods and services if any. Suppliers are suggested to check whether they have filed correct outward supplies returns. Also, the recipient shall check the ITC factor from their end.
  • Do not wait for the last day to file your Returns.
  • Reverse the wrong availed ITC if any, with 24% interest per day while filing GSTR 9C.

Extension Possibility

It is quite possible that the GST council may extend the due date of Fy 2021-22. However, the taxpayer shall prepare himself to file the GSTR 9 Annual return before the last date.

Further, the GST council has already made the GST Annual return filing optional for turnover of less than 2 crores in the previous meeting. This decision was taken in the 37th GST council meeting held in Goa on 20th September 2019 in Goa.

However, if the return is not filed by the taxpayers who come under the below 2 crore bracket shall be deemed as filed on the given date. This is applicable for GSTR 9/ 9A and 9C.

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GSTR 9 Extension Notification

Check out the latest Notification extending the GSTR 9 Filing deadline. The deadline for filing GSTR 9 for FY 2018-19 is 31.12.2020. more

How to file GSTR 9 Return?

Check out the simple guide on how you can file GSTR 9 online on the GST portal. You can also file GSTR 9 by preparing offline and uploading the JSON file on the portal. more

Excel and pdf format of GSTR 9

Learn how to download GSTR 9 excel utility or file and prepare the return in offline mode. You can also download the pdf format from here. more

What is GSTR 9C in GST?

GSTR 9C is a reconciliation statement of GST Returns and books of accounts. Thus it has to be filed by the chartered accountant or the authorized tax auditor. more

Late filing fees for GSTR 9 and 9C

The late filing fees for GSTR 9 is Rs. 200/- per day. Whereas the penalty for late filing of GSTR 9C may attract up to Rs. 25000/-. more

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