The government has extended the due date for furnishing annual GST or goods and services tax returns for the financial year 2019-20 to March 31, 2021.
GST (Goods and Services Tax) is an indirect tax that replaced a slew of indirect taxes in India, including excise duty, services tax, and VAT. On March 29, 2017, Parliament passed the GST Act, which took effect on July 1, 2017.
GSTR-9 is a summary return that details all of the company transactions for the current Financial Year. GSTR-9 provides information about supplies made and obtained during the year under various tax heads, such as CGST, SGST, and IGST.
GSTR 9C is an annual audit form for all taxpayers with a taxable income of more than 2 crores in a given fiscal year. The taxpayer must also complete the reconciliation statement and the audit certification in addition to the GSTR 9C audit form.
"The government has extended the due date for furnishing annual GST or goods and services tax returns for the financial year 2019-20 by two more months," the Central Board of Indirect Taxes and Customs (CBIC) said Sunday.
It should be noted that the deadline for filing Annual returns (GSTR-9 and GSTR-9C) under section 44 of the CGST Act and rule 80 of the CGST rules for the fiscal year 2019-20 was previously extended from December 31, 2020, to February 28, 2021.