This was for the second time extension given by the government has been extended. The deadline for furnishing of the Annual returns (GSTR-9 and GSTR-9C) which is stated under section 44 of the CGST Act read with rule 80 of the CGST rules for the fiscal year 2019-2020 was previously extended from 31st December 2020 to 28th February 2021 through a notification circulated on 30th December 2020.
The Finance Ministry stated in a statement that considering the difficulties as expressed by the taxpayers in meeting this time limit, the Government had decided to further extend the deadline relating to the furnishing of Form GSTR-9 and GSTR-9C for the financial year 2019-2020 to 31st March 2021 with the consent of the Election Commission of India.
This press note has been issued to keep the taxpayers informed so that they can plan their filing of the returns accordingly.
FORM GSTR 9 is an annual return that is required to be filed yearly by the taxpayers who are registered under the Goods and Services Tax (GST). It consists of particulars relating to the outward and inward supplies made or received under several tax heads.
FORM GSTR-9C is a statement of reconciliation between GSTR-9 and the audited annual financial statement.
It is mandatory for the taxpayer to furnish the annual return who has an aggregate annual turnover of Rs 2 crore and above while a reconciliation statement is required to be furnished by the registered taxpayers who have an aggregate turnover of Rs 5 crore and above.
Conclusion
However, it was held that the taxpayers were struggling towards meeting this statutory time limit and had represented to the government for some time extension. Though the extension is relatively small it is sufficient for the tax experts in order to complete the required fillings.
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