new Delhi. Before the festive season, the central government has given big relief to the traders. The government has extended the deadline for filing annual Goods and Services Tax (GST) returns for the financial year 2018-19 by two months. The Finance Ministry gave this information by tweeting on Saturday.
The Central Board of Indirect Taxes and Customs (CBIC) issued a statement saying that now the annual GST return for the financial year 2018-19 can be filed on December 31. Earlier last month, the deadline for filing GST returns was extended to 31 October 2020.
Demand was being received from the government to extend the deadline
In a statement issued by the CBIC, it has been demanded that the government was seeking to extend the time frame for filling the annual GST Return (GSTR-9) and Statement of Match (GSTR-9C) for the financial year 2018-19. CBIC said that normal operations have not been made possible yet due to the pandemic of Kovid-19 and the nationwide lockdown and other restrictions. There was a demand to extend the date on this basis.
Annual return filing date to December 31
The Central Board of Indirect Taxes and Customs said that the annual GST returns (Form GSTR-9 and GSTR-9A) and revalidation details (Form GSTR- 9c) It has been decided to increase the filing date from 31 October to 31 December 2020.
Who is required to file GST return
GSTR 9 is an annual return that taxpayers have to file under the GST regime. In this, a detailed description is given in respect of receipts and supplies under various tax categories. The GSTR-9C is the audited annual financial statement and the matching letter of the GSTR-9. Filing of annual returns is mandatory only for those taxpayers whose annual turnover is more than Rs 2 crore. Similarly, it is mandatory for registered persons with annual turnover of more than Rs five crore to submit the purchase-sale matching details.
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