Confederation of GST Professionals and Industries had moved the Bombay High Court for the due date extension of GSTR-9 ( Annual Return ) / GSTR-9C ( Reconciliation Form) to December 31st, 2020.
The Petition stated the various problems which are being faced by professionals in view of severe restrictions on public transport and staff attendance in many places. Furthermore, petitioner has submitted that Article 21 rights of professionals and their staff are being violated by the manifestly arbitrary and unreasonable decision to give a totally inadequate extension to the time limit.
GSTR-9 is an annual return to be filed yearly by taxpayers registered under GST. It consists of details regarding the outward and inward supplies made/received during the relevant previous year under different tax heads i.e. CGST, SGST & IGST and HSN codes. Basically, it is a consolidation of all the monthly/quarterly returns (GSTR-1, GSTR-2A, GSTR-3B) filed in that year. Though complex, this return helps in extensive reconciliation of data for 100% transparent disclosures.
The GSTR9C is an audit form that was introduced on September 13, 2018. It must be filed annually by taxpayers with a turnover above 2 crores, and it must be certified by a CA. It is basically a reconciliation statement between the annual returns filed in GSTR-9 and the taxpayer’s audited annual financial statements.
The late fees for not filing the GSTR 9 within the due date is Rs 100 per day, per act. That means late fees of Rs 100 under CGST & Rs 100 under SGST will be applicable in case of delay. Thus, the total liability is Rs 200 per day of default. This is subject to a maximum of 0.25% of the taxpayer’s turnover in the relevant state or union territory. However, there is no late fee on IGST yet.
The Confederation of GST Professionals and Industries also started a petition in Change.org appealed Prime Minister Narendra Modi to grant Extension for GSTR 9 & 9C – Financial Year 2018/19 to at least 31st December 2020.