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Indirect Tax Alert: GST - Extension of GST Annual return and audit FY 2019-20

31 December 2020

Every taxpayer, other than an Input Service Distributor, a person paying tax under section 51 or section 52, a casual taxable person and a non-resident taxable person, is required to furnish GSTR 9 (Annual return) by 31 December following the end of the financial year. Further such taxpayers whose aggregate turnover is more than INR 20 mn is required to furnish GSTR 9C (Reconciliation statement) reconciling the value of supplies declared in the return furnished for the financial year with the audited annual financial statement, and such other particulars as may be prescribed, along with GSTR 9 (Annual return) by 31 December following the end of the financial year.

The Central Board of Indirect Taxes and Customs (CBIC) vide Notification No. 77/2020 – Central Tax dated 15 October 2020 has extended the benefit of optional filing of annual return for registered persons whose aggregate turnover in a financial year does not exceed INR 20mn, for FY 2019-20 as well. The benefit was already available for Financial Year 2017-18 and 2018-19. It is also relevant to note that for taxpayers with an annual turnover of less than INR 50 mn, filing of GSTR-9C for FY 2018-19 is waived off.

CBIC vide Notification No95/2020- Central tax dated 30 December 2020 has extended the due date of filing GST annual return and audit report for FY 2019-20 to 28 February 2021 as against 31 December 2020. 

[ Notification no: 95/2020- Central tax dated 30 December 2020]