44.1.3 Time Limit for furnishing GSTR 9/9A

Question-1 [ICSI-E-J19-O-83-1]

Mr. Pandit is engaged in trading of gifts articles and his annual turnover will exceeds Rs.200 lakh. The due date for filing annual return would be_______ of the following financial year.

(A) 31st October; (B) 31st December; (C) 30th September; (D) 30th November

44.2.2 RP whose AT <= Rs.2 Cr is exempted to file GSTR-9

Question-1 [ICSI-E-D22-82-1]

Annual return of GSTR 9 under u/s 44 of CGST Act, 2017, shall be filed by :

(A) Every registered person

(B) Registered person having annual turnover Rs. 1.5 crore or more

(C) Registered person having annual turnover Rs. 2 crore or more

(D) Registered person having annual turnover more than Rs. 2 crore

Question-1A [ICMAI-I-J19-1(a)(iv)-1]

Annual Return shall be filed by

(A) every registered person.

(B) registered person having annual turnover of Rs.2 crores and above.

(C) registered person having annual turnover of Rs.1.5 crores and above.

(D) None of the above

44.3.2 Applicability of GST Audit for FY 2017-18 to 2019-20 [Before 01-08-2021]

Question-1 [ICSI-E-D19-86-1] [Audit]

Section 35(5) of Central Goods & Services Tax (CGST) Act, 2017 mandates that every registered person must get his accounts audited by a ......................if his aggregated turnover during a financial year exceeds Rs. ....................

(A) Chartered Accountant or Company Secretary, 2 Crore

(B) Chartered Accountant or Cost Accountant, 2 Crore

(C) Chartered Accountant or Company Secretary or Cost Accountant, 3 Crore

(D) Chartered Accountant, 3 Crore

Question-1A [ICMA-I-D18-1(c)(iv)-1]

Under GST law, every registered person whose aggregate turnover during a financial year exceeds Rs.2 Cr has to get his accounts audited by a chartered accountant or a cost accountant. [T/F]

Question-2 [ICSI-P-D17-6(b)-5]

Who are required to file Annual Return under CGST Act 2017 ? Also explain the time limit for filing such return. Is there any requirement of furnishing of the audited annual accounts ?

Answer

(i) Person liable to file annual return : Every registered person, other than an Input Service Distributor, a person paying tax under section 51 or Section 52, casual taxable person and a non – resident taxable person, shall furnish an annual return for every financial year electronically in such form and manner as may be prescribed.

(ii) Due date is 31st Dec. after end of year : Annual return shall be filed on or before the 31st day of December following the end of such financial year.

(iii) Persons liable to Audit : Audit report to be furnished along with reconciliation statement : Every registered person who is required to get his accounts audited in accordance with the provisions of sub-section (5) of section 35 shall furnish, electronically, the annual return under sub- section (1) along with a copy of the audited annual accounts and a reconciliation statement, reconciling the value of supplies declared in the return furnished for the financial year with the audited annual financial statement, and such other particulars as may be prescribed.

Question-3 [ICSI-P-J21-1(c)(iii)-3]

Explain the provisions of CGST Act and rules regarding Annual Return for the financial year 2019-20.

Answer

Every Registered person other than an Input Service Distributor (ISD), a person paying tax under section 51 or section 52 a casual taxable person shall furnish an annual return as specified under section 44 (1) of Central Goods and Services Tax Act, 2017 electronically in FORM GSTR – 9

However a person paying tax under section 10 shall furnish the annual return in FORM GSTR - 9A and every electronic commerce operator requires to deduct tax at source under section 52 shall furnish the annual return in FORM GSTR - 9B.

The due date in above cases is 31st day of December following the end of such Financial Year.

As per section 44 of the Central Goods and Services Tax Act, 2017 and notifications issued thereunder. Annual return for Financial year 2019-20 was required to be filed by all registered person whose aggregate annual turnover during the year 2019-20 did not exceed two crore rupees shall have the option to furnish the annual return. In other words, filing GSTR - 9 was optional for registered persons having turnover upto rupees Two Crores and mandatory for registered person having turnover above 2 crores. The last date for furnishing the Annual Return for 2019-20 was 31.03.2021. However registered Person having turnover below Rupees two crore would be deemed to have furnished their Annual Return if they fail to do so.

In case of registered person whose turnover exceeds Five crores it is also mandatory to get their accounts audited under GST from a practicing Chartered Accountant or a practicing Cost and Management Accountant and to submit a copy of Audited Annual Accounts and a reconciliation statement duly certified in FORM GSTR - 9C for the financial year 2019-20.

Question-3A [ICAI-F-M18-O-12c-5]

Explain the provision relating to filing of Annual Return under section 44 of CGST Act, 2017 and Rules there under

44.6 Late fees for not furnishing of Annual return on or before due date

Question-1 [ICAI-I-Jan21-7(c)-3] [ICAI-I-N19-O-10(b)(ii)-2.5]

The aggregate turnover of Mr. Prithvi, a registered person for the FY 2017-18 and 2018-19 were Rs.140 lakh and Rs.170 lakh respectively. He has not filed the annual return (GSTR-9) under section 44(1) of CGST Act, 2017 before the due date.

Discuss the penal provisions, if any, for not filing the returns before the due date.

Answer

The penal provisions for not filing the annual return (GSTR-9) u/s 44(1) of the CGST Act, 2017 before the due date are as under:-

(a) Rs.100 for every day during which such failure continues, or

(b) 0.25% of the turnover of the registered person in the State/Union Territory whichever is lower.

Note:- It may be noted that filing of GSTR-9 has been made voluntary in respect of financial years 2017-18 and 2018-19 for the registered persons whose turnover is less than Rs.2 crores and who have not furnished the said annual return before due date. Here, the annual return is deemed to be furnished on the due date if it has not been furnished before the due date.