GST Filing Last Date: The government has extended the deadline for filing the annual return of Goods and Services Tax (GST) for the financial year 2019-20 till 31 March on Sunday. This is the second extension given by the government. Earlier this deadline was extended from 31 December 2020 to 28 February 2021. The Finance Ministry said in a statement that in view of the difficulties faced by taxpayers in filing returns within the deadline, the government has extended the deadline to fill GSTR-9 and GSTR-9C for 2019-20. This extension has been done with the approval of Election Commission in the deadline.
Returns have to be paid on turnover of more than two crore rupees
GSTR 9 is an annual return, which taxpayers registered under GST have to fill. GSTR-9C is an audit of the audited annual financial accounts and GSTR 9. Filing of annual returns is mandatory only for those taxpayers whose annual turnover is more than two crore rupees. Similarly, it is mandatory for registered persons with an annual turnover of more than Rs 5 crore to submit the matching details of the purchase and sale.
Warren Buffett reveals his $ 11 billion mistake, warns bond investors
Rajat Mohan, Senior Partner, AMRG & Associates, said that even though it is a relatively short extension of 31 days, it is sufficient to fulfill the responsibility required by tax professionals.
(Input: PTI)