Income Tax News: If you also come in this category of taxpayers then be alert, only 6 days left

GST Annual Return GSTR 9C: If you are a businessman and your annual turnover is above Rs 2 crore. So this news can prove to be very useful for you. The last date for filling GSTR 9 form for businessmen is 31 December 2022. The Central Government has urged the people to submit this form before 31st date 2022. You have only 6 days left for this work. The Central Government has issued guidelines in this regard.

Know what is GSTR 9 form

Let us tell you that it is necessary to fill GSTR 9C form for taxpayers having turnover of more than 2 crores in the financial year 2021-22. This form is not required to be filled by Input Service Distributor, TDS Deductor, TCS Collector, Casual Taxable Person and Overseas Taxable Person.

guidelines issued

The Central Board of Indirect Taxes and Customs has issued this instruction. The central government said that taxpayers whose annual turnover is more than Rs 5 crore for 2021-22 are required to file self-attested reconciliation statement in GSTR 9C along with filing annual return in GSTR 9.

may be fined

You are not able to file these forms. So for every day late, a fee of Rs 200 is levied. It takes Rs 100 under Central GST and Rs 100 under State GST. There is no specific penalty for late filing of GSTR 9C. If the taxpayer delays filing GSTR 9C by filing GSTR 9 in time, then he can be fined up to Rs 50000. You can fill it by visiting the GST portal.

businessmen got relief

In the beginning of December, the central government had given a big relief to the businessmen regarding the GSTR 9C form. Businesses with a turnover of more than Rs 5 crore also file GSTR 9C, but they need to get it certified by a Chartered Accountant (CA). The central government has changed it and traders themselves can attest and submit it.

read this also

Retail Trade Policy: DPIIT sought views from various departments and ministries on National Retail Trade Policy, this is the reason