Chapter IX (Sections 37-48) of the Central Goods and Services Tax (CGST) Act, 2017 deals with provisions related to Accounts and Records. Section 44 of Central Goods and Services Tax Act, 2017 (12 of 2017) provides annual return under CGST Act 2017.
Recently, we have discussed in detail section 43 (i.e. Matching, reversal and reclaim of reduction in output tax liability) of CGST Act 2017. Today, we learn the provisions of section 44 of the CGST Act 2017. Complete Details of CGST Section 44 – Annual return. You may CLICK HERE to download list of all sections of CGST Act 2017 in PDF format.
Notes on Section 44 of CGST Act 2017
Section 44 of CGST Act 2017 shall come into force on 01.07.2017 vide Notification No. 9/2017 – Central Tax, G.S.R. 658(E), and dated 28.06.2017. In this note, you will learn detail of the provisions of section 44 of CGST Act 2017 read with Central GST Rules 2017.
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 for every financial year electronically in such form and manner as may be prescribed on or before the thirty-first day of December following the end of such financial year.
Every registered person who is required to get his accounts audited in accordance with the provisions of sub-section (5) of section 35 shall furnish, electronically, the annual return under sub-section (1) along with a copy of the audited annual accounts and a reconciliation statement, reconciling the value of supplies declared in the return furnished for the financial year with the audited annual financial statement, and such other particulars as may be prescribed.