India, 28 October 2020
To help taxpayers, the Government has extended various due dates.
The Central Board of Indirect Taxes and Customs (CBIC) has extended the due date for furnishing Annual Return in Form GSTR-9/GSTR 9A and Reconciliation Statement in GSTR-9C for FY 2018-19 to 31 December 2020 from 31 October 2020. The Government has reiterated that the filing of Annual return (Form GSTR-9/GSTR-9A) for the financial year 2018-19 is optional for taxpayers who had an aggregate turnover below INR 2 crores.
• The due date of furnishing Income Tax Returns (ITR) for taxpayers whose accounts require to be audited and who are required to furnish a report in respect of international/specified domestic transactions has been extended to 31 January 2021.
• The due date for furnishing of ITRs' for the other taxpayers and the date for furnishing of various audit reports under the Act, including tax audit report and report in respect of international/specified domestic transaction, has been extended to 31 December 2020.
• The due dates for payment of self-assessment tax have been extended. For specified taxpayers whose self-assessment tax liability is up to INR 1 lakh, the due date has been extended to 31 January 2021. However, certain specified taxpayers have to pay the self-assessment tax by 31 December 2020.
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