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Who files Gstr 9 and 9C?

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Who files Gstr 9 and 9C?

The GSTR-9 form is an annual return which has to be filed by all registered taxable persons under GST. The GSTR-9C is the GST reconciliation Statement for a particular FY on or before 31st December. The reconciliation must also be certified by a CA for the companies having turnover more than 5 crores.

Who Must File Gstr 9 compulsory?

What is the applicability for filing GSTR9? All registered person u/s 44 of CGST and SGST Act except as mentioned below [specified u/s 44 (1)] are required to file GSTR. Please note :- All the required registered taxpayers shall file Annual return, irrespective of their turnover limit.

Who is required to file GST annual return?

registered GST taxpayers
All the registered GST taxpayers are required to file GSTR 9 once a year. In the recent past, the intrastate suppliers and the business and the service sector businesses that have an annual turnover of Rs 20 lakh and goods sector with an annual turnover of Rs. 40 lakh need to file GST annual returns.

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Is Gstr 9C mandatory?

Taxpayers with a turnover exceeding Rs. 5 crore in the previous financial year are required to file Form GSTR-9C on a self-certification basis. This change is applicable from FY 20-21 onwards. Further, Form GSTR-9C will be modified to support self-certification by the taxpayer.

Why Gstr 9C is filed?

GSTR-9C is a reconciliation statement required to be furnished by a taxpayer whose turnover exceeds Rs. 2 crore in a financial year while filing his annual return in form GSTR-9. It should be prepared and certified by a Chartered Accountant/ Cost Accountant.

Who are exempted from filing Gstr 9?

2 crs for FY 20-21. Vide Notification No. 31/2021-Central Tax Dated : 30th July, 2021 CBIC exempts the registered person whose aggregate turnover in the financial year 2020-21 is upto two crore rupees, from filing annual GST return for the said financial year.

Is Gstr 9C compulsory?

What is the penalty for non filing of Gstr 9C?

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 and Rs 100 under SGST will be applicable in case of delay. Thus, the total liability is Rs 200 per day of default.

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Is annual GST return mandatory?

Under the Goods and Services Tax (GST), filing of annual return — GSTR-9/9A — for 2020-21 is mandatory for all registered businesses, barring those with an aggregate annual turnover of up to ₹2 crore.

Is GST audit mandatory?

While Section 110 omits section 35(5) of CGST Act, 2017 means GST Audit (GSTR-9C) by CA/CMA is no longer required and Section 111 substitutes section 44 (Annual return) of CGST Act, 2017.

How do I file a gstr9 and 9C?

To start filing the GSTR 9C reconciliation audit report, perform given steps:

  1. First of all, login with username id & password on www.gst.gov.in.
  2. After that, the dashboard will open, click on the ‘Annual Return’ tab.
  3. Now click on the financial year for the desired period to file the return, click on the FY 2017-18.

What happens if Gstr 9C is not filed?

If a taxpayer fails to file both Annual Return and Form GSTR-9C, then he is liable to a fee of Rs. 200/- per day during which the default continues (Rs. 100 under CGST law + Rs. 100/- under State / Union Territory GST law) *Capped to a maximum amount of .

What is gstr-9c audit form?

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.

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When should I file my gstr9c for 2017-18?

Typically, the GSTR9C must be filed on or before the 31st of December following the financial year which is under audit. For example, for the financial year of 2017-2018, the GSTR9C must be filed on or by the 31st of December, 2018.

What are the changes in form gstr-9c for FY 2020-21?

Form GSTR-9C has to be self-certified by the taxpayer instead of being certified by CA/ CMA. The relaxations provided in reporting of data for certain tables of Form GSTR-9C in FY 2020-21 will continue for FY 2020-21 as well. Verification table by CA/CMA in Part B of Form GSTR-9C has been deleted.

What is the deadline for filing reconciliation statement in gstr 9C?

The deadline for filing Reconciliation statement in GSTR 9C has been extended to June30, 2020 for FY 2018-19. SInce turnover limit for MSMEs has been increased to 5 Crores, mandatory filing of GSTR 9C has been made optional for taxpayers.