The government has extended the deadline for businesses to file Goods and Services Tax (GST) annual returns for FY 2020-21. The due dates to file GSTR 9 & 9C for FY20-21 has been extended to February 28, 2022 from December 31, 2021, announced the Central Board of Indirect Taxes & Customs (CBIC) on Wednesday.
“The due date for furnishing annual return in FORM GSTR-9 & self-certified reconciliation statement in FORM GSTR-9C for the financial year 2020-21 has been extended from 31.12.2021 to 28.02.2022,” it said in a tweet.
GSTR 9 is an annual return to be filed yearly by taxpayers registered under the Goods and Services Tax (GST). It consists of details regarding the outward and inward supplies made or received under different tax heads. GSTR-9C is a statement of reconciliation between GSTR-9 and the audited annual financial statement.
On the other hand, the Goods and Services Tax (GST) Council will meet on Friday on the eve of several key GST related amendments scheduled to be coming into effect in the new year including tax rate changes in the textile and footwear sectors.
The Council decided for the rate changes at its last meeting in September, as per which, woven fabrics of cotton, silk and wool, coir mats, matting and floor covering, apparel and clothing accessories of sale value upto ₹1,000 and footwear priced upto ₹1,000 a pair will be moved to 12% slab from from the current 5%.
The central government decided to bring into effect a dozen amendments to the Central Goods and Services Tax (CGST) Act from 1 January, tightening the indirect tax regime further.
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