GST Jamku AIAnnual return
Section 44(1)
Every registered person, other than an Input Service Distributor, a person paying tax under section 51 or section 52, a casual taxable person and a non-resident taxable person shall furnish an annual return which may include a self-certified reconciliation statement, reconciling the value of supplies declared in the return furnished for the financial year, with the audited annual financial statement for every financial year electronically, within such time and in such form and in such manner as may be prescribed:
Provided that the Commissioner may, on the recommendations of the Council, by notification, exempt any class of registered persons from filing annual return under this section:
Provided further that nothing contained in this section shall apply to any department of the Central Government or a State Government or a local authority, whose books of account are subject to audit by the Comptroller and Auditor-General of India or an auditor appointed for auditing the accounts of local authorities under any law for the time being in force.
Every registered person, except for certain categories like Input Service Distributors, those paying tax under section 51 or section 52, casual taxable persons, and non-resident taxable persons, must submit an annual return. This return may include a self-certified reconciliation statement, aligning the declared supply values in the return for the financial year with the audited annual financial statement.
Submission Requirements: The annual return must be submitted electronically within a specified time frame and in the prescribed form and manner.
Exemptions: The Commissioner, based on recommendations from the Council, can exempt certain classes of registered persons from filing the annual return.
Exceptions: This section does not apply to departments of the Central Government, State Government, or local authorities whose accounts are audited by the Comptroller and Auditor-General of India or an auditor appointed for auditing local authority accounts under prevailing laws.
Section 44(2)
A registered person shall not be allowed to furnish an annual return under sub-section (1) for a financial year after the expiry of a period of three years from the due date of furnishing the said annual return:
Provided that the Government may, on the recommendations of the Council, by notification, and subject to such conditions and restrictions as may be specified therein, allow a registered person or a class of registered persons to furnish an annual return for a financial year under sub-section (1), even after the expiry of the said period of three years from the due date of furnishing the said annual return.
In simple terms, a registered person must submit their annual return within three years from the due date of the financial year. After this period, they are generally not allowed to submit the return.
Exceptional Circumstances
However, the government, based on recommendations from the Council, can permit a registered person or a specific group of registered persons to submit their annual return even after the three-year limit. This exception would be granted through an official notification, and certain conditions and restrictions may apply.