GST Council to consider different deadlines for large & small taxpayers

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In a bid to ease the compliance burden and to de-clog the system from last-minute rush of taxpayers filing their returns, the upcoming goods and services (GST) council is likely to pitch in for separate deadlines for large and small taxpayers under the new simplified return process.

The GST Council will deliberate on the relaxing the dates for new simplified returns coming into action from Jan 2020 when they meet this Friday.

“Going by past experience, huge filing is expected on 10th of following month, especially after end of quarter when monthly and quarterly filers will upload ANX-1. Thus, like staggering of RET filing, staggering of ANX-1 upload is also recommended,” the council agenda reviewed by CNBCTV18 says.

RET1 is the new simplified return to be filed by taxpayers from January 2020 as GSTR3B will be phased out. ANX-1/2 will replace GSTR-1/2A and are effective from October 2019. Council had also agreed to run GSTR-3B and ANX-1 in parallel for 2 months for Monthly Filers.

Centre is now proposing to have two deadlines for new simplified returns, which will be for the GST Council to finalise. The proposal is:

  1. Last date to file RET1 for Large taxpayers – 20th of next month
  2. Last date to file RET1 for small taxpayers – 25th of next month
  3. Last date for filing of Anx 1 for large taxpayers – 10th of next month
  4. Last date for filing of Anx 1 for small taxpayers – 13th of next month
  5. Last date for filing of Anx 2 – for both large and small taxpayers – 17th of next month

The GST Council in its 35th meeting held on 21 June decided that the implementation of new return should be carried out in a phased manner.

In the current GSTR system, last date to file returns in the current system is same for large and small taxpayers.

Not just this, as reported by CNBCTV18 first, the Goods and Services Tax (GST) Council is also likely to waive off the mandatory requirement to file GST annual returns for taxpayers below annual turnover of Rs 2 crore.

“GST Council in its meet on September 20 will consider the proposal to do away with the compliance of filing annual GST Returns GSTR9, GSTR9A, and GSTR9C, for the financial year 2017-18, 2018-19 for taxpayers below the threshold of the annual turnover of Rs 2 crores,” senior government officials told CNBC-TV18.

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