GSTR 9 and GSTR 9C Forms Due Date Extended
Finally, GSTR 9 and 9C Due Date Extended by Government Over Multiple Request.
The annual return form GSTR 9 and the reconciliation statement i.e. self-certified statement forms GSTR 9C for the FY 2020-21 due date have been extended finally by the government in order to justify the multiple requests by the association. The latest due date is 28.02.2022 from the previous 31.12.2021. There is a notification issued in this regard No.40/2021-Central Tax dated 29.12.2021
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Sales Tax Bar Assoc. Requested for Due Date Extension of GSTR 9 & 9C for FY 2020-21
In an application written to Finance Minister, Nirmala Sitharaman, dated December 10, 2021, Sales Tax Bar Association has requested an extension of the due dates for the filing of Annual Return in Form GSTR-9, 9A and Reconciliation Statement in Form GSTR-9C.
At present, the last date for the filing of Annual Returns and Reconciliation Statement for the period from 01.04.2020 to 31.03.2021 is set for 31st Dec. 2021, which coincides with the due date for submission of Income Tax Audit Report Balance Sheet, Profit and Loss Account, which is scheduled for 15th Jan. 2022. According to the Association, it is not possible for a large number of taxpayers to file annual returns before the completion of the audit work in relation to Income Tax. They simply do not have sufficient time. And therefore, the ministry is requested to extend the due dates for submission of GSTR-9, 9A and 9C by at least two months.
43rd GST Council Meeting Updates for Annual Return Form
- New update in sections 35 and 44 of Central Goods and Services Tax (CGST) Act made by finance act, 2021 to be announced. It would ease the compliance need in furnishing FORM GSTR-9C (reconciliation statements), as assessees would be able to self-certify the reconciliation statement, instead of getting it certified by chartered accountants. This change should be applicable for Annual Return form GSTR 9C for the FY 2020-21.
- The GSTR 9 annual return form for the financial year 2020-21 to be optional for assessees having ATTO (Aggregate Annual Turnover) up to INR 2 Crore
- GSTR 9C reconciliation statement form for the financial year 2020-21 will compulsory to be filed by assessees with ATTO above INR 5 Crore
| Sales | GSTR 9 | GSTR 9C |
|---|---|---|
| Up to 2 Cr | Optional | N/A |
| More than 2Cr. – 5 Cr | Filling is mandatory | Optional (Benefit Given) |
| More than 5Cr | Filling is mandatory | Filling is mandatory |
The government also said that these forms will now be easy to file as there are multiple columns and files which have now been made optional.
As per the Central Board of Indirect Taxes & Customs (CBIC) notification, the amendments concerning the simplification of both the annual forms i.e. GSTR 9 and GSTR 9C allowing the taxpayers to not provide the input tax credit availed on inputs, input services and capital goods details.
Also, there is now no need to give the HSN level details of outputs or inputs, etc. for the FY 2020-21.
GSTR 9 annual return & 9C audit form due dates extension gives another chance to the taxpayers to file their annual returns on time with clarity and accuracy which is also observed by the government.
The taxpayers are required to file the GSTR-9 form and GSTR-9C for Financial Year 2020-21, by 31st December 2021 anyhow.
The deadline for the annual GSTR 9 return may be extended due to the continuous demands of various trade bodies. GST annual return is a kind of important deal as it gives a once-in-a-year opportunity to taxpayers to review and rectify their mistakes in any of the returns filed in that particular year. Therefore, businesses must be given sufficient time and resources to analyze, understand and fill the form.
Read Also: Comparison B/w GSTR 9 Annual & GSTR 9C Audit Return Forms
Taxpayers need time as they will have to review all their past returns and transactions to fill up details in the annual return form. It is going to be even more arduous and demanding for small businesses and traders who have no expertise in such tasks. Since the due dates for GSTR-3B filing have been extended multiple times for different months during the year, the calculation of penalty, interest and the late fee is now more time-consuming
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- Reconciliation of complete tax data from all portals
- Matching of data return wise, invoice wise, month-wise & rate wise
- Export/Import of data returns, excel and JSON etc
While the GSTR 9C Audit Form Features:
- GSTR 9C preparation from GSTR-1, 3B ,Purchase register (ITC register) & filed GSTR-9
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