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The government has notified new annual GST return forms, which are required to be filed by businesses registered under the Goods and Services Tax regime by June 30, 2019. In the annual return forms, businesses have to provide consolidated details of sales, purchases and input tax credit (ITC) benefits accrued to them during the 2017-18 fiscal. The Central Board of Indirect Taxes and Customs (CBIC) on December 31, 2018, notified form GSTR-9, GSTR-9A and GSTR-9C. GSTR-9 is the annual return form for normal taxpayers, GSTR-9A is for composition taxpayers, while GSTR-9C is a reconciliation statement. Trade and industry bodies had raised several objections on the GST annual return filing forms, which were earlier notified in September last year. Following this, the CBIC has notified the new forms. AMRG & Associates Partner Rajat Mohan said "it is disheartening to witness that only minor modifications have been made in these forms and all other demands have been rejected. Primary ...

from Economy & Policy http://bit.ly/2GLdePM