{"id":16410,"date":"2020-11-20T11:05:24","date_gmt":"2020-11-20T05:35:24","guid":{"rendered":"https:\/\/swaritadvisors.com\/learning\/?p=16410"},"modified":"2021-03-20T18:08:53","modified_gmt":"2021-03-20T12:38:53","slug":"extension-of-due-dates-for-filing-gst-annual-return-by-cbic","status":"publish","type":"post","link":"https:\/\/swaritadvisors.com\/learning\/extension-of-due-dates-for-filing-gst-annual-return-by-cbic\/","title":{"rendered":"Extension of Due Dates for Filing GST Annual Return by CBIC"},"content":{"rendered":"\n<p class=\"has-drop-cap\">Recently, <strong>CBIC<sup><a class=\"text-primary\" href=\"https:\/\/www.cbic.gov.in\/\"><strong><em>[1]<\/em><\/strong><\/a><\/sup><\/strong> or the Central Board of Indirect Taxes and Customs by way of a Press Release, dated 09.10.2020, has extended due dates for filing GST Annual Return, i.e., GSTR 9 and GSTR 9C for the F.Y. 2018-2019 till 31.12.2020.<\/p>\n\n\n\n<p>Earlier, the due dates for filing GSTR 9 (Annual Return) and GSTR 9C (Reconciliation Statement) for the Financial Year 2018 \u2013 2019 was 31.10.2020.<\/p>\n\n\n\n<p>In this blog, we will discuss the Extension of Due Dates for <a class=\"text-primary\" href=\"https:\/\/swaritadvisors.com\/gst-return-filing\"><strong>Filing GST Return<\/strong><\/a> Annually by CBIC.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a548645bc5d6\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a548645bc5d6\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/swaritadvisors.com\/learning\/extension-of-due-dates-for-filing-gst-annual-return-by-cbic\/#Concept_of_Form_GSTR_9\" title=\"Concept of Form GSTR 9\">Concept of Form GSTR 9<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/swaritadvisors.com\/learning\/extension-of-due-dates-for-filing-gst-annual-return-by-cbic\/#Concept_of_Form_GSTR_9C\" title=\"Concept of Form GSTR 9C\">Concept of Form GSTR 9C<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/swaritadvisors.com\/learning\/extension-of-due-dates-for-filing-gst-annual-return-by-cbic\/#Reason_Behind_the_Extension_of_Due_Dates_for_Filing_GST_Returns\" title=\"Reason Behind the Extension of Due Dates for Filing GST Returns\">Reason Behind the Extension of Due Dates for Filing GST Returns<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/swaritadvisors.com\/learning\/extension-of-due-dates-for-filing-gst-annual-return-by-cbic\/#Impact_of_Extension_on_Indian_Economy\" title=\"Impact of Extension on Indian\nEconomy\">Impact of Extension on Indian\nEconomy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/swaritadvisors.com\/learning\/extension-of-due-dates-for-filing-gst-annual-return-by-cbic\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/swaritadvisors.com\/learning\/extension-of-due-dates-for-filing-gst-annual-return-by-cbic\/#Official_Press_Release\" title=\"Official Press Release\">Official Press Release<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Concept_of_Form_GSTR_9\"><\/span><strong>Concept of Form GSTR 9<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The term Form GSTR 9 denotes an annual return that is required to be filed by taxpayers on yearly basis. Further, the term taxpayer includes every such person or entity that has obtained <strong><a href=\"https:\/\/swaritadvisors.com\/gst-registration\" class=\"text-primary\">GST registration<\/a><\/strong> under the provisions of the GST Act.<\/p>\n\n\n\n<p>Form GSTR 9 specifically deals with the transactions relating to inward and outward supplies made under various tax heads.<\/p>\n\n\n\n<p>Also, the taxpayers who are earning an annual business turnover of Rs 20 crore or more needs to compulsorily file an annual return in Form GSTR 9 with the authorities.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Concept_of_Form_GSTR_9C\"><\/span><strong>Concept of Form GSTR 9C<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The term Form GSTR 9C denotes a statement of reconciliation between the audited annual financial statement and Form GSTR 9. Further, the taxpayers who are earning an annual business turnover of Rs 5 crore needs to file this reconciliation statement after getting the accounts audited by a practising CA (Chartered Accountant) or Cost Accountant.<\/p>\n\n\n\n<p>Further, the turnover limit of Rs 2 crore was increased to Rs 5 crore by CBIC on 23.03.2020.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Reason_Behind_the_Extension_of_Due_Dates_for_Filing_GST_Returns\"><\/span>Reason Behind the Extension of Due Dates for Filing GST Returns<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The decision for the extension of Due\nDates beyond 31.10.2020 was taken because due to the COVID \u2013 19 pandemic, the\nnormal operations and working of the businesses in several parts of the country\nhave not fully resumed.<\/p>\n\n\n\n<p>Also, many representations were made to\nthe authorities that it is still not possible to resume business operations in\nseveral parts of the country due to COVID \u2013 19 pandemic. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Impact_of_Extension_on_Indian_Economy\"><\/span>Impact of Extension on Indian\nEconomy<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>According to views expressed by <em>Mr Abhishek Jain, Partner at Ernst and Young<\/em>, the extension will provide the much-needed relief to both tax practitioners and industry. \u201cDue to the continuing epidemic and employees taking unplanned leaves, the extension will definitely give a significant relief to both chartered accountants and businesses.\u201d<\/p>\n\n\n\n<p>However, <em>Mr Rajat Mohan, Senior Partner at AMRG Associates<\/em> has expressed a\ncontrasting viewpoint. According to him, the extension will definitely have a\nripple effect on the Annual Compliances of the Financial Year 2019 \u2013 2020, as\nthe last for such compliances is 21.12.2020 as well.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In a nutshell, the main reason behind the extension of the due dates for filing GSTR 9 and GSTR 9C was to provide relief to the industry, as due to the COVID \u2013 19 pandemic, the normal operations and working of the businesses in several parts of the country have not fully resumed.<\/p>\n\n\n\n<p>For any further detail, visit Swarit Advisors, we have a team of experts who will assist you with both the process of GST Registration and GST Annual Return.<\/p>\n\n\n\n<p><b>Also, Read:<\/b> <mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/swaritadvisors.com\/learning\/key-highlights-of-atma-nirbhar-bharat-package-3-0\/\">Key Highlights of Atma Nirbhar Bharat Package 3.0<\/a><\/mark><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Official_Press_Release\"><\/span>Official Press Release<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<a href=\"https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/11\/AnnualReturnPressRelease_09102020-1.pdf\" class=\"pdfemb-viewer\" style=\"\" data-width=\"max\" data-height=\"max\"  data-toolbar=\"bottom\" data-toolbar-fixed=\"off\">AnnualReturnPressRelease_09102020-1<br\/><\/a>\n<p class=\"wp-block-pdfemb-pdf-embedder-viewer\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Recently, CBIC[1] or the Central Board of Indirect Taxes and Customs by way of a Press Release, dated 09.10.2020, has extended due dates for filing GST Annual Return, i.e., GSTR 9 and GSTR 9C for the F.Y. 2018-2019 till 31.12.2020. Earlier, the due dates for filing GSTR 9 (Annual Return) and GSTR 9C (Reconciliation Statement) [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":16413,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3,1],"tags":[908],"_links":{"self":[{"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/posts\/16410"}],"collection":[{"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/comments?post=16410"}],"version-history":[{"count":6,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/posts\/16410\/revisions"}],"predecessor-version":[{"id":18261,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/posts\/16410\/revisions\/18261"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/media\/16413"}],"wp:attachment":[{"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/media?parent=16410"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/categories?post=16410"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/tags?post=16410"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}