CBIC had made various changes vide notification and had recently updated the turnover limit for conducting audit and filing of GST annual return which is as under:
GSTR 9: Turnover limit is 2 crore.
GSTR 9C: Turnover limit is 5 crore.
Although filing of GSTR 9 is optional for taxpayer with turnover below Rs. 2 crore however if there are any adjustments which have been done then it is advisable to file GSTR 9 to avoid any notice from GST department
As of now the due date for filing of GSTR 9 and GSTR 9C for FY 2020-21 is 28.02.2022 [Read notification for extension of due date] and after the due date the late fees for the same would be:
For GSTR 9: Rs 200 per day of delay subject to a maximum cap of an amount at 0.25% of total turnover in respective State/UT
For GSTR 9C: No specific provision, Hence, subject to a general penalty of Rs 25,000.
As of now no due date has been extended for FY 2020-21 or no late fee relaxation has been announced.
Also, GSTR 9C was shifted to self certification from CA certification. To read more CLICK HERE: Self certification of GSTR 9C instead CA certified | Simplification of GST annual return GSTR 9 – Taxontips
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