Why GST Annual Return date Should not be extended
Section 36 of CGST Act, 2017 requires a registered person to keep and maintain books of accounts or other records for a period of 72 months from the due date of furnishing the annual return (i.e. 30th June 2019 of subsequent financial year for FY 2017-18 ) for the year pertaining to such accounts and records. Thus, records for FY 2017-18 are to be maintained till 30th June 2025.
Therefore once the due date of GST Annual return is extended , the cost of compliance of the GST registered taxpayer will also increase.