More information will have to be given in GST, returns can be submitted by 31 August
The composition dealer also will need to provide more information from the regular dealer within the GST return this year. The annual return form for the fiscal year 2019-2020 has been changed, posing for bill wise details of purchase from the composition dealer. Thanks to the new form not being ready on time, the last date for submission of returns has been made to 31 August.
The composition dealer will need to provide a detailed description of his purchase within the first 3 parts of the new form. Within the first part, the bill of purchase from the registered dealer will need to tend the wise details. The small print of the acquisition from the dealer is going to be given within the second part, the small print of the acquisition on which the supply of reverse tax is applicable. Within the third part, details of the acquisition from the dealer not registered in GST will need to tend. Within the one-fourth, detail important of service will need to tend.
There’s no got to fill the one-fifth, during this the sum of the four quarterly returns submitted by the composition dealer will come automatically on the web site. Taxwise details of purchase and sale will need to tend within the sixth part. The seventh part is additionally just like the one-fifth, it also doesn’t get to be filled. If the composition dealer’s TDS or TCS has been deducted by someone, it’ll come automatically through the web site.
Overall, this point the composition dealer will need to provides a lot of knowledge within the annual return. Within the last fiscal year 2018-2019, it had been necessary to fill Form GSTR-4 on a quarterly basis for composition taxpayer. There’s no got to file returns on a quarterly basis in FY 2019-20. Just one statement has got to be filed quarterly in Form GST CMP-08. Filing Form GSTR-9A for annual returns for FY 2018-19 was optional.