Big support for composite GST taxpayers, the Institute of Chartered Accountants of India (ICAI) has written to the GST Council asking for a GST Annual Return Due Date Extension
Due to the CoronaVirus pandemic, The Institute of Chartered Accountants of India (ICAI) has written to the GST Council asking for an extension of GST annual return filing for the FY19 deadline by 3 months till December 31.
Now you require to ensure some facts about the GSTR-9
Know About GSTR-9
As we know, GST return filing is obligatory for taxpayers who indulge in multiple types of businesses. GSTR 9 is an annual return to be filed yearly by taxpayers registered following the Goods and Services Tax (GST). It consists of regards concerning the outward and inward supplies made or obtained under different tax heads. GSTR-9C is a narrative of reconciliation between GSTR-9 and the audited annual financial statement.
Why Extension of GST annual return filing?
In its representation to the GST Council, the ICAI declared that the majority of the offices are working only partially due to the COVID-19 pandemic. They request to present suitable relaxation to the registered persons and extend due dates of GST annual return filing for FY19 by 3 months till December 31, 2020. This would render required relaxation to the trade, in combating the concerns arising out of coronavirus.
Major Relaxation for Taxpayers
Two major relaxations for taxpayers filing GST annual return for 2018-19
- By the extension of the GST annual return filing date, it would serve to provide needed relaxation to the trade and taxpayers.
- Additionally, it would present the requisite breathing space to businesses.
In case, you require any kind of guidance related to the GST return filing procedure, GST Registration or any other GST compliance, please feel free to contact our business advisors at 8881-069-069.
Download E-Startup Mobile App and Never miss the freshest updates relating to your business.