The authorities on Saturday prolonged the due date for furnishing annual GST or items and companies tax returns for monetary 12 months 2018-19 by two months. The new deadline is December 31, as an alternative of October 31. This is relevant to companies submitting annual returns in addition to audit experiences for the 12 months to March 31, 2019. Earlier, the taxman had prolonged the due date by a month until October 31. Now, companies can file the annual return, utilizing Form GSTR-9, and the reconciliation assertion, Form GSTR-9C, for monetary 12 months 2018-19 by December 31.
— CBIC (@cbic_india) October 24, 2020
The Central Board of Indirect Taxes and Customs (CBIC) mentioned the federal government has been receiving numerous representations on the necessity to prolong the due date, on account of obstruction to enterprise attributable to COVID-19-related restrictions.
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Form GSTR 9 is utilized by registered taxpayers to file a GST return yearly. The return accommodates particulars on inward and outward provides underneath totally different heads.
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Form GSTR-9C contains an announcement of reconciliation, matching particulars supplied in a GSTR-9 return with the audited annual monetary statements.
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Currently, GST assessees with combination annual turnover of greater than Rs 2 crore need to furnish annual returns mandatorily. Only by registered GST assessees with combination annual turnover of greater than Rs 5 crore are required to file the reconciliation assertion (GSTR-9C).