The Hush Post | 6:02pm | One-minute read |
The Union government has extended the due date for filing GST returns for the financial year 2017-18 (FY18) and financial year 2018-19 (FY19). The Centre had extended the due date for filing the returns for FY 18 by a month to December 31, 2019. Similarly, the Finance Ministry has extended the due date for FY19 from December 31, 2019 to March 31, 2020.
According to a Finance Ministry statement, the taxpayers will have to file Form GSTR-9 (Annual Return) and Form GSTR-9C (Reconciliation Statement) by the above mentioned dates. The Government has also decided to simplify these forms by making various fields of these forms as optional.
The Central Board of Indirect Taxes & Customs (CBIC) has notified the amendments regarding the simplification of GSTR-9 and GSTR-9C.
The statement said every registered taxable person whose turnover during a financial year exceeds Rs 2 crore, will submit a reconciliation statement in GSTR 9C along with GSTR 9. Assessees under the composition scheme (businesses with turnover up to Rs 1.5 crore) will be required to file the GSTR 9A form.
Earlier the last date for filing of GSTR-9 and GSTR-9C for Financial Year 2017-18 was November 30, while that for Financial Year 2018-19 was December 31.