The Central Government has once again extended the date for filing the annual GST returns.
The central government has extended the last date for filing the annual GST return for the fiscal year 2019-20 (FY20). Earlier, the government had extended the period for filing GST returns for the same period from 31 December 2020 to 28 February 2021. Let us know how long businessmen can file GST returns now?
- Last Updated:February 28, 2021, 9:37 PM IS
Election Commission approval taken before extension of term
The central government has decided to extend the period of filing the annual GST returns after the approval of the Election Commission. GSTR-9 is the annual return, which has to be filed by Registered Taxpayers under GST. At the same time, the GSTR-9C audited annual financial accounts and GSTR-9 match. Filing of annual returns is necessary only for those taxpayers, whose annual turnover is more than two crore rupees. At the same time, it is mandatory for registered businessmen with annual turnover of more than Rs 5 crore to submit a buy-sell matching details.
read this also – Gold prices fell by more than Rs. 10,000 to Rs. 11,000, know whether the investment will give strong profits at the current priceTaxpayers will get enough time to prepare
The Ministry of Finance said that now taxpayers will get enough time to file their annual GST returns. According to the ministry, a notification has been issued to extend the period. According to traders, the central government has extended the duration of just 31 days, which is slightly less. Nevertheless, this much time will be sufficient to fulfill all the necessary responsibilities for Tax Professionals.