The government has given a huge boost to GST scavengers in the embarrassing situation of the corona epidemic. The Central Board of Indirect and Custom (CBIC) on Saturday extended the deadline for filing GST annual returns for the 2018-19 financial year to December 31 this year. The deadline, which was first extended for months without complications due to the virus, has now been extended for another two months.
Traders with a turnover of over Rs 2 crore are required to file an annual GST return (GSTR 9, GSTR 9C). Only traders with an annual turnover of more than Rs 5 crore are required to submit a Reconciliation Statement (GSTR 9C).
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Meanwhile, the Income Tax Department is well aware of the good news for taxpayers. Extends the date for filing income tax returns for the financial year 2019-20 (Assessment Year 2020-21) till December 31. To this extent, the CBDT said in a statement.
The Income Tax Department has tweeted that the Central Board of Direct Taxes (CBDT) has extended the deadline in view of the difficulties faced by taxpayers in filing IT returns due to Corona. This is the second time the Finance Ministry has extended the IT returns filing date. The corona epidemic was first announced in May, extending until November 30 for the first time. Now extended once again.
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