GST Annual Return Filing Deadline: The central government has given great relief to the businessmen.
GST Annual Return Filing Deadline: The central government has given big relief to the traders. The government has extended the deadline for filing GST annual return for the financial year 2020-21 by two more months. Now businessmen will be able to file the GST annual return for the financial year 2020-21 till February 28. Earlier this deadline was 31 December 2021. The Central Board of Indirect Taxes and Customs (CBIC) has given information about this decision of the government by tweeting. CBIC has informed that self-certified reconciliation statements in the form of Form GSTR-9 and Form GSTR-9C for the financial year 2020-21 can be filed by February 28.
What is GSTR 9 and GSTR-9C
- GSTR 9: Taxpayers registered under the Goods and Services Tax (GST) have to file Annual Return (GSTR 9). It is filed under section 44(1) of the Central GST 2017. It contains complete details of outward and inward supplies under various tax heads.
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- GSTR-9C: GSTR-9C is the reconciliation statement between GSTR-9 and the audited annual financial statement.
- Filing of annual return is mandatory for all those businessmen whose aggregate turnover of business is more than Rs 2 crore. However, the reconciliation statement has to be filed only by those businessmen whose aggregate turnover of business is more than Rs 5 crore.
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