Annual GST return on turnover but 2 crore isn’t necessary
The two-day online GST workshop of CA Institute, Sisaka branch started on Sunday. On a primary day, GSTR Nine, the annual GST return, was discussed. CA Navya Malhotra of Delhi taught CA students to fill annual returns. Also informed about the changes in GSTR Nine Return for the year 2018-19. He informed that the last date for filing the annual return for the fiscal year 2018-19 is 30 September 2020.
The government has made it optional for traders with but two crore turnovers for the fiscal year 2018-19, hence it’ll not be mandatory for merchants with but two crore turnovers to fill GSTR-Nine. tons of the knowledge given within the returns have also been made optional, such it’s not necessary to offer information about the inward supply and outward supply in HSN order. the knowledge of ITC also can now be shown by adding a capital input rather than sharing the input capital goods and input service. Turnover also can be shown within the figure that comes after the debit and credit note. This thing is the most important thing that should be done by the taxpayer.
If the tax is missed or not deposited on the reverse charge for the year 2018-19, it can still be credited along with side interest, Can also take his ITC. it’ll now be optional to offer information about purchases made by the traders of the competition. The Chief Guest at the workshop CIRC Sikasa chairman CA Atul Aggarwal said that albeit the GST was implemented, three years have passed, but the changes are continuing. it’s important for everybody to stay their information right. During this point, Sikasa president Deepika Mittal, Agra branch president Sharad Paliwal, Rakesh Aggarwal, Saurabh Saxena, Shivam, etc. were present.