Government gave big relief to millions of businessmen! Annual GST returns will be available till 31 March

In view of the difficulties faced by taxpayers in filing returns within the deadline, the Finance Ministry said in a statement, the government has filed the GST Return-9 (GSTR-9) and GST Return-9C (GSTR-9C) for 2019-20. And has increased.

Government gave big relief to millions of businessmen!  Annual GST returns will be available till 31 March

Big relief for businessmen

The government extended the deadline to fill the Goods and Services Tax (GST) annual return (Annual Retruns) for the financial year 2019-20 till 31 March. This is the second extension given by the government. Earlier this deadline was extended from 31 December 2020 to 28 February 2021. In view of the difficulties faced by taxpayers in filing returns within the deadline, the Finance Ministry said in a statement, the government has filed the GST Return-9 (GSTR-9) and GST Return-9C (GSTR-9C) for 2019-20. And has increased. This extension has been done with the approval of Election Commission in the deadline.

GSTR-9 is an annual return, which taxpayers registered under GST have to fill. GSTR-9C is an audit of annual audited financial accounts and GSTR-9. Rajat Mohan, Senior Partner, AMRG & Associates, said that even though it is a relatively short extension of 31 days, it is enough to fulfill the required responsibility for tax professionals.

Big relief for businessmen

Big relief for businessmen

It is compulsory to file annual returns for total annual turnover taxpayers of more than Rs 2 crore only, the recollection statement is to be filed only by registered persons having turnover of more than Rs 5 crore.

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