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.
As of now the due date for filing of GSTR 9 and GSTR 9C for FY 2018-19 is 31.12.2020 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 2018-19.
Update:
On 30.12.2020, CBIC has extended due date for filing of GSTR 9 and 9C till 28.02.2021 but the same has been increased for FY 2019-20. Hence there is no extension for annual return and audit for FY 2018-19 and if any return is uploaded after the above date there would be a late fees.
