ICAI wrote a letter to the GST Council, Where to extend the GST return filing date for 2018-19
The Institute of Chartered Accountants of India (ICAI) has written letter to the GST Council (GST Council) that the GST Return and GST audit work should be increased from three months to 31 December 2020 from 2018-19. This may provide a lot of relief to the industry.
The Institute of Chartered Accountants of India (ICAI) has demanded a three-month extension of New Year’s Eve, to fill the products and Services Tax Annual Return (GST Return) for the fiscal year 2018-19. For this, ICAI has also written a letter to the GST Council. Explain that the deadline for filing the annual GST return for the fiscal year 2018-19 (Last Date) is currently 30 September 2020.
Officials doing partial work, thanks to COVID-19epidemic
ICAI during a letter sent to the GST Council has said that the majority of the officers are working partially thanks to the Kovid-19 epidemic (COVID-19). We are requesting to supply relief to the registered people and to increase the work of GST annual return and GST audit for 3 months to 31 December 2020 for 2018-19. Thanks to things arising due to Coronavirus, this area will get the required relief. In May 2020, the govt had extended the last date for filing the annual GST return for the fiscal year 2018-19 by three months to September 2020.
Tax partner Abhishek Jain of the tax firm EY said that Kovid-19 has affected people’s lives worse. Also, add many areas has come to an entire standstill. Within the current situation, the industry is facing a spread of problems. Alongside keeping the work smooth, they need to consider following many sorts of rules of protection from Kovid-19. In such a situation, the demand made by ICAI is totally correct. The industry is supporting this demand.
Taxpayers registered under GST are required to fill GSTR-9
Abhishek Jain said that if the central government accepts ICAI’s requests, then it’ll provide necessary relief to the industry. Explain that taxpayers registered under GST need to fill GSTR-9 as an annual return. It contains the entire details of shopping for and selling of products and services in various tax items. It also contains details of the matching of GSTR-9C, GSTR-9, and audited annual financial accounts.