A Complete Guide on Annual Return( By SN Panigrahi ) All companies (private limited company, one person company, limited company, section 8 company, etc) are required to file an annual return with the MCA every year. In addition to filing MCA annual return, companies would also be required to file income tax return. we present a complete guide on Annual return. The concept of Annual returns has been effectuated under GST. Although the concept of Annual return was in vogue by virtue of VAT Statutes in certain states, the same wasn’t there in the Service Tax Statute as well as the Excise Law. In this article let us discuss Annual Return GSTR 9 to be filed by 31 st December by every normal registered person.

Sub: Steps to be taken by taxpayers to file Form GSTR-9C   - Reg. Dear Taxpayers, You are aware that Form GSTR-9C, for the period 2017-18 is to be filed by 31st August, 2019, by all the taxpayers whose annual turnover was more than Rupees 2 Crore (except exempted taxpayers)  during July 2017 and March 2018 . To ensure that the process of filing is hassle-free, you are requested to observe following precautions, before and during filing Form GSTR-9C, on GST Portal:

TAX STRUCTURE IN INDIA In todays India three tier federal structure. The central government, state governments, and local municipal bodies make up this structure. Article 256 of the constitution states that “No tax shall be levied or collected except by the authority of law”. Hence, each and every tax that is collected needs to backed by an accompanying law. Taxes in India are levied by the Central Government and the State Governments.  Some minor taxes are also levied by the local authorities such as the Municipality and the Local Governments.  While direct taxes are levied on taxable income earned by individuals and corporate entities, the burden to deposit taxes is on the assessees themselves. On the other hand, indirect taxes are levied on the sale and provision of goods and services respectively and the burden to collect and deposit taxes is on the sellers instead of the assessees directly.

HI HERE ARE THE DUE DATE OF FILE YOUR GST RETURN FOR JULY 2019 GSTR1 -- 10TH AUGUST GSTR3 --  20TH AUGUST GST CMP(8) --  18TH AUGUST

In which year you assess your tax called ASSESSMENT YEAR. And for which year we assess the tax called Financial Year or Previous Year- IN THE YEAR 2019–20 WE ARE ASSESSING THE TAX OF 2018–19. SO WE CALLED 2019- 20 AS ASSESSMENT YEAR AND 2018–19 IS CALLED FINANCIAL YEAR. Assessment Year- The year immediate succeeding Financial year . The Year in which you file ITR. Financial year- The year immediate preceding Assessment year. The year in which you pay income tax. Example of F.Y. and its A.Y. Lets take a example to understand the concept of Financial Year (F.Y.)  and Assessment Year (F.Y.),  If we take an example of Year  2018-19 which is from 1st April 2018 to 31st March 2019 and if it the year for which you calculation your income and tax on total income, then year 2018-19 is your Financial Year, for that the calculation period start from 1st April 2019  and you can submit your Income tax File for FY 2018-19 FROM 1st April 2019 to 31st March 2020. So, Year 2019-20

GOOD MORNING FRIENDS 11 th june is due date of GSTR 1  submission for the month of may 20 th tune is due date for GSTR 2 submission for may 2019. Dont miss due date to avoid panalty.