18 February 2021
Dear Sir, In FY-2017-18 we have filed the GST annual return (GSTR-9) but in FY 2018-19 not filed. We have not filed GST annual return (GSTR-9) for FY 2018-19. Because our turnover does not exceed 2 crore. Our company Business is NBFC and our income source is only Dividend Income & Capital Gain Income. In FY 2018-19 our total receipts of Dividend & Capital gain Income is 1.10 Crores. We have paid reverse charge tax on advocate fees & We have taken ITC against purchases in FY 2018-19.
If we have not filed the annual return for FY 2018-19, then will any action be taken from the GST department. We have not filed the Annual GST Return as per GST Notification. The Notification is as under : The notification issued under section 148 of the Central Goods and Services Tax Act, 2017 on 9th October 2019 made it optional to file Annual returns for the FY 2017-18 and 2018-19, for the registered persons whose aggregate turnover in a financial year is not more than two crore rupees.
Right now we have to do GST Annual Return for the Financial Year 2019-20 or not, which due date is 28th Feb, 2021.
Please inform us your opinion in the above matter.
CAclubindia
