Extension pe extension pe extension! That pretty much sums up the status of GSTR-9 filing. If you are running a business yourself or dealing with its taxes; GSTR-9 has likely become the bane of your existence.
What just happened?
The first-ever GST annual return is now due; a good long 20 months after the end of the FY to which it belongs. Take that!
Return for FY 2017-18 is due on the 30th of November 2019. From the earlier due date of the 31st of August 2019, it has been extended by three months.
As a CA, what can I do?
Without a doubt, you have spent valuable man days, your own and your teams’, reconciling, looking at mismatches, understanding the complexities of your clients business. The reconciliation challenges may be unique to each of your customer and you are likely to be in the throes of it right now.
We suggest some steps –
- Fill in GSTR-9 without any more delays and bring closure to outstanding items, be ready to file!
- The government may not push the deadline any further.
- Document all your mismatches, your adjustments, your concerns – prepare a representation already. You never know how these GSTR-9 will get assessed or picked up later by department officials.
- Claim ITC for your customers where eligible per the law – after all, ITC is all that matters.
- Bill your clients for the work done. GSTR-9 has been a complex, new, and a daunting task. Raise your billing for it. If a clarification comes through, you’ll be ready to make final submissions immediately.
- Understand how the new GST simplified return filing (ANX-1 and ANX-2) will impact you and your customers and prepare to move to the new mechanism soon.
- Some have suggested GSTR-9 be scrapped – that seems like a ridiculous idea! You have spent so many hours on this, let it go through.
Why does this matter?
For your own revenues and of course for your sanity. You cannot keep holding on the GSTR-9, waiting for things to change. It is very unlikely that the government will change this return form radically.