The taxpayers had been pressing hard on due date extension of various compliances under Income Tax and GST. In this regard more than 50 formal representation were made to Finance Ministry by various professional bodies for extension of due dates in Income Tax Act and GST.
In this regard considering hardship faced by Taxpayers and Professionals, the Finance Ministry has decided to extend various due dates for filing income tax returns and tax audits, including GST Audits. Further due to Covid situation in India and Night Curfew the time required for completing the compliance under Income Tax and GST has been extended.
The government has extended the deadline to file income tax return (ITR) for FY 2019-20 for individuals from the current deadline of December 31, 2020, to January 10, 2021. The extension of the deadline is for those individuals whose accounts are not required to be audited and who usually file their income tax return using ITR-1 or ITR-4 forms, as applicable. For other taxpayers the date has been extended to February,15, 2021.
A press release in this regard has been issued today . It has been stated that Notifications in this regard will be issued subsequently.
As regards GST annual return is concerned the due date for filing of GSTR-9 / 9-C only for FY 2019-20 has been extended to 28th February, 2021 from existing 31st December,2020 and there is no extension in due date of filing of same for FY 2018-19 and it remains as 31st December,2020.
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Frah Saeed is a law graduate specializing in the core field of indirect taxes and is the Co-founder of taxwallah.com. She has authored many publications on GST and is into full-time consultancy on GST to big corporates. She as a part of taxwallah.com heads a team comprising of Chartered Accountants and Advocates and plays a key role in our mission to disseminate GST knowledge to all.
