The deadline for filing annual GST returns for the 2020-21 fiscal year is extended to February 28
The deadline for filing GST returns for the 2020-21 financial year has been extended to February 28
The government has extended the deadline for businesses to file their annual goods and services tax (GST) returns for the 2020-21 financial year by two months. The Central Board of Indirect Taxes & Customs has extended it from December 31, 2021 to February 28, 2022.
“The due date for filing annual returns in FORM GSTR-9 and self-certifying reconciliation statements in FORM GSTR-9C for fiscal year 2020-21 has been extended from December 31, 2021 to February 28, 2022,” the Commission said. Central Indirect Taxes & Customs (CBIC) announced in a late-night tweet on Wednesday.
The due date for the annual income provision on FORM GSTR-9 and the self-certification reconciliation report in FORM GSTR-9C for fiscal year 2020-21 has been extended from December 31, 2021 to February 28, 2022. Notice No. 40/2021-Central Tax dated December 29, 2021 with this effect has been issued. pic.twitter.com/0USdsoIMET
– CBIC (@cbic_india) December 29, 2021
The GSTR 9 is an annual return filed annually by registered taxpayers under the Goods and Services Tax (GST). It includes details regarding external and internal supplies made or received by different tax owners. The GSTR-9C is a reconciliation statement between the GSTR-9 and the audited annual financial statements.
The provision of annual return is required only for taxpayers with gross annual turnover over Rs 2 crore while the reconciliation is provided only by registered persons with a gross turnover above Rs 5.
In addition, the 46th GST Council meeting – headed by Finance Minister Nirmala Sithraman will be conducted on December 31 in Delhi. The meeting will be an extension to the pre-budget meeting with state finance ministers on December 30.
The council is expected to discuss the report of the group of state finance ministers on rate rationalization, which will be submitted during the meeting. It is also capable of discussing the amendment of tax inversions in some items
