The government has extended the deadline for businesses to file the goods and services tax (GST) annual returns for the financial year 2020-21 by two more months. The Central Board of Indirect Taxes & Customs has extended the deadline from December 31, 2021, to February 28, 2022.
“The due date for furnishing annual return in FORM GSTR-9 & self-certified reconciliation statement in FORM GSTR-9C for the financial year 2020-21 has been extended from 31.12.2021 to 28.02.2022,” the Central Board of Indirect Taxes & Customs (CBIC) announced in a late-night tweet on Wednesday.
The due date for furnishing annual return in FORM GSTR-9 & self-certified reconciliation statement in FORM GSTR-9C for the financial year 2020-21 has been extended from 31.12.2021 to 28.02.2022. Notification No.40/2021-Central Tax dated 29.12.2021 to this effect has been issued. pic.twitter.com/0USdsoIMET
— CBIC (@cbic_india) December 29, 2021
GSTR 9 is an annual return to be filed yearly by taxpayers registered under the Goods and Services Tax (GST). It consists of details regarding the outward and inward supplies made or received under different tax heads. GSTR-9C is a statement of reconciliation between GSTR-9 and the audited annual financial statement.
Furnishing of the annual return is mandatory only for taxpayers with aggregate annual turnover above Rs 2 crore while a reconciliation statement is to be furnished only by the registered persons having aggregate turnover above Rs 5 crore.
Also, the 46th GST Council meeting – headed by Finance Minister Nirmala Sithraman will be conducted on December 31 in Delhi. The meeting will be an extension to the pre-budget meeting with state finance ministers on December 30.
The council is expected to discuss the report of the group of states finance ministers on rate rationalisation, which will be submitted during the meeting. It is also likely to discuss correction in duty inversion in certain commodities