Central Board of Indirect Taxes and Customs (CBIC) has issued Circular No. 124/43/2019 dated 18th November, 2019 in order to provide clarifications regarding optional filing of GST Annual Return and short payment of taxes.
Key Points of the Circular are:
- It has been clarified that the tax payers under composition scheme, may, at their own option file FORM GSTR-9A for the financial years 2017-18 and 2018-19 before the due date. After the due date of furnishing the annual return for the year 2017-18 and 2018-19, the common portal shall not permit furnishing of FORM GSTR-9A for the said period.
- 2. It has also been clarified that every registered person other than an Input Service Distributor, a person paying tax under section 51 or section 52, a casual taxable person and a non-resident taxable person, shall have option to furnish the annual return for FY 2017-18 and 2018-19 if their aggregate turnover in a financial year does not exceed two crore rupees. Accordingly, those tax payers, may, at their own option file FORM GSTR-9 for the said financial years before the due date. After the due date of furnishing the annual return for the year 2017-18 and 2018-19, the common portal shall not permit furnishing of FORM GSTR-9 for the said period.
- 3. It has further been clarified that if any registered tax payer, during course of reconciliation of his accounts, notices any short payment of tax or ineligible availment of input tax credit, then he may pay the same through FORM GST DRC-03.
For further details please refer the attached document.
Source: Central Board of Indirect Taxes & Customs
