REGARDING ANNUAL RETURN FILING

[Guest]

Respected Sir,

Good day!

A registered tax payer with around 7 lakhs income from house boat service of FY 2017-18 were not shown while filing the GST returns. As the returns filed cannot be revised what shall we do while filing the annual return for the FY 2017-18.

I would be grateful for your prompt reply.

Thank you

[KASTURI SETHI]

(i) You will get an opportunity to rectify the same when format of Annual Return is activated on the Common Portal.

(ii) Secondl, y there was a news that One Time Amnesty Scheme is in the offing.

So there is hope that you will be able to deposit the Govt. dues before or at the time of filing Annual Return.

[DR.MARIAPPAN GOVINDARAJAN]

I agree with the advice of Sri Sethi

[Guest]

Thank you Sirs

AI Summary

GST annual return rectification may permit regularisation of undeclared income when the portal's annual return is activated. Because period GST returns already filed cannot be revised, the taxpayer should disclose omitted receipts when the annual return format is activated on the GST Common Portal, using the portal's rectification mechanism; advisers further noted the prospect of a one time amnesty allowing deposit of outstanding dues before or at the time of filing the annual return.