EPFO Nomination And Annual GST Return Filing Updates:
Deadline Updates: Extension of Deadlines Past December 31 In a series of announcements over the last two days, the government has extended deadlines for a variety of sectors.
Different wings of the government have been updating deadlines that were meant to be on December 31, from EPFO nominee filing to updating KYC (Know Your Customer) for customers at Regulated companies.
When a result, citizens across India now have more time to relax and file updates as needed, with no immediate pressure. In this regard, it should be noted that these deadlines have been significantly prolonged as a result of the current Covid-19 pandemic, which has witnessed a new wave of cases with the development of the novel Omicron variety.
The following is a list of government deadlines that have been moved from December 31 to other dates:
1. The EPFO Nomination Filing Deadline Has Been Extended Past December 31
On Thursday, December 30, the Employees Provident Fund Organisation, or EPFO, announced that members can now register nominations in their EPF accounts after the December 31 deadline. It did not specify a deadline this time. The government-backed retirement Organisation, on the other hand, advised account holders to file for e-nomination as soon as feasible.
Many users complained about difficulties in the EPFO platform while filing for e-nomination, prompting the new action. According to some users on Twitter, the EPFO system would not enable people to file for a nomination and will display an error message whenever they attempt to do so.
“It is vital for subscribers to file nominations to care for their spouse, children, and parents, as well as to protect them through online PF, pension, and insurance,” the EPFO stated in a statement.
The purpose of filing a nomination is to ensure benefits for the PF account holder’s dependents in the case of his or her death. Benefits from insurance and pension programmes will be available to the nominee.
2. The GST Annual Return Filing Deadline forFY21 has been extended until February 28. The government has also extended the deadline for firms to file GST annual returns for the fiscal year 2020-21, which concluded in March 2021, by two months, to February 28.
“The due date for furnishing annual return in FORM GSTR-9 and self-certified reconciliation statement in FORM GSTR-9C for the financial year 2020-21 has been extended from 31st December 2021 to 28th February 2022,” the Central Board of Indirect Taxes and Customs (CBIC) tweeted late Wednesday night.
GSTR 9 is an annual return that taxpayers who are registered for the Goods and Services Tax must file once a year (GST). It contains information on outbound and inbound supplies made or received under various tax headings.
Only taxpayers with an annual turnover of more than Rs 2 crore are required to file an annual return, while registered people with an annual turnover of more than Rs 5 crore are required to file a reconciliation statement.
3.Extension of the RBI’s KYC Periodic Update Policy for Restricted Entities
The waiver was granted due of the ongoing Covid-19 epidemic, according to the central bank. “In light of the current uncertainty caused by the new Covid 19variant, the relaxation provided in the aforementioned circular is hereby extended until March 31, 2022,”
the RBI said in a statement, referring to an earlier circular that required bank customers to update their KYC information by December 31 this year. Customers who wanted to make unlimited deposits or withdrawals from their accounts had to update their KYC information by this date.
To know More Updates Please Follow and Subscribe to Our Channel:-