The government on Sunday prolonged the deadline for filing GST once-a-year returns for 2019-20 fiscal by a month until March 31.
This is the second extension supplied by the government. The deadline was previously prolonged from December 31, 2020, to February 28.
In watch of the issues expressed by the taxpayers in meeting this time limit, Government has decided to even more lengthen the because of day for furnishing of GSTR-nine and GSTR-9C for the fiscal 12 months 2019-20 to March 31, 2021 with the approval of Election Commission of India, the Finance Ministry explained in a assertion.
GSTR nine is an once-a-year return to be submitted annually by taxpayers registered under the Goods and Solutions Tax (GST). It is composed of details concerning the outward and inward materials designed or acquired under various tax heads.
GSTR-9C is a assertion of reconciliation involving GSTR-nine and the audited once-a-year fiscal assertion.
On the extension, AMRG & Associates Senior Lover Rajat Mohan explained, Even even though it is a relatively smaller extension of 31 times but is ample for the tax pros to total the requisite filings.
EY Tax Lover Abhishek Jain explained most business players had been having difficulties to meet this statutory deadline and had represented to the government for an extension.
Furnishing of the once-a-year return is mandatory only for taxpayers with combination once-a-year turnover higher than Rs two crore whilst reconciliation assertion is to be furnished only by the registered persons obtaining combination turnover higher than Rs 5 crore.
(Only the headline and picture of this report may possibly have been reworked by the Small business Conventional workers the rest of the material is auto-created from a syndicated feed.)
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