Extension of the Last Date for Filing GSTR-9, GSTR-9C, and Income Tax Return

Introduction 

In the time limit to make amendments and claim ITC in GST returns in respect of the preceding financial year up to 30 November 2022, the businesses are pushing to complete their reconciliation of both revenue and the Income Tax Commission. This augmentation has provided the much-required window to make corrections in the GST returns before they start filing the GSTR-9, GSTR-9C, and Income Tax Returns for Financial Year 2021-22. It may be noted that taxpayers have an accumulation turnover of up to Rs. 2 Crores have been exempted from filing GSTR-9 and taxpayers with an accumulation turnover of up to Rs. 5 Crores have been exempted from filing of reconciliation statement in form of GSTR-9C.

GSTR-9 Annual Return

Under GST, GSTR 9 means an annual return to be filed yearly by registered taxpayers. It includes the details with regards to the inward and outward supplies made or received during the relevant financial year under different tax heads like; CGST, SGST & IGST, and HSN codes. It is a consolidation of all the monthly return or quarterly returns filed in that year. The due date for filling GSTR-9 & 9-C for Financial Year 2021-22 is 1st December 2022. The CBIC has exempted registered taxpayers of GST with annual aggregate turnover up to Rs.2 Crore in Financial Year 21-22 from filing Form GSTR-9.

GSTR-9C

GSTR-9C means the taxpayers filed a reconciliation statement whose aggregate turnover during a financial year exceeds Rs. 5Crore. It shall be filed a copy of the audited annual accounts and a reconciliation statement, self-attested, in the form of GSTR-9C. The due date for furnishing the form of GSTR-9 and the form of GSTR-9C is 31st December 2022 for the financial year 2021-22.

Income Tax Return

An Income Tax Return means a form that is submitted by the person to the Income Tax Department of India. It contains information about the income of a person and the taxes that are paid on it during the financial year. Information filed in Income Tax Returns should concern a particular financial year that starts on 1st April and ends on 31st March of the next year.

Extension of the last date for filing GSTR-9, GSTR-9C, ITR

The due date for filing the form of GSTR-9 & GSTR-9C for the Financial Year 2021-22 is 31st December 2022. Similarly, the due date for filing Belated & Revised Income Tax Return for non-audit cases for Financial Year 2021-22 is also 31st December 2022.

Meerut Tax Bar Association has requested to Smt. Nirmala Sitharaman Ji, Hon’ble Union Finance Minister, Ministry of Finance to Extend the due dates of the form of GSTR-9, GSTR-9C, and ITR. The representation is given below:

We are GST and Income Tax Practitioners and are associated with Meerut Tax Bar Association, Meerut is an Association of Advocates, who are practicing in taxation, corporate, and other related laws with taxation.

Respected Madam/Sir, we the Meerut Tax Bar Association have always elevated the issues that concern taxation not only for the cause of professionals but for the business of Trade and Industry too and as well as revenue. Besides this, we also try to educate the professionals and stakeholders on taxation through several seminars, webinars, lectures, discussions, and others. We strongly support the aspiration of the Government i.e. ‘Sabka Sath Sabka Vikas’.

Respected Madam/sir, we hereby request your good self to kindly amend the last date for filing the form of GSTR 9, 9C, and Income Tax Returns from 31st December 2022 to 31st March 2023.

Conclusion 

It concluded that this augmentation has provided the much-required window to make corrections in the GST returns before they start filing the GSTR-9, GSTR-9C, and ITR for Financial Year 2021-22. It may be noted that taxpayers have an accumulation turnover of up to Rs. 2 Crores have been exempted from filing GSTR-9 and taxpayers with an accumulation turnover of up to Rs. 5 Crores have been excepted from the filing of reconciliation statement in the form of GSTR-9C. But Smt. Nirmala Sitharaman Ji, Hon’ble Union Finance Minister, Ministry of Finance to extend the due dates of the form of GSTR-9, GSTR-9C, and ITR is 31st December 2022.

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Author:

Radhika Punani
Ambala
I am Radhika from Ambala city. I qualified LLM from Kurukshetra University and B.A.LLB from Maharishi Markandeshwar University