How much is the penalty for Gstr 9C?
Rs.200/- per day
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.14-Jul-2022
What is gst9 and 9C?
The GSTR-9 form is an annual return that 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 a turnover of more than 5 crores.16-Mar-2022
As per 43rd GST Council meeting outcome, GSTR-9 shall continue to be optional for taxpayers with turnover up to Rs. 2 crore, whereas GSTR-9C can be self-certified by taxpayers with turnover less than or equal to Rs. 5 crore from FY 2020-21 onwards.12-Jan-2022
What is limit for Gstr-9C?
Rs 5 crore
The due date to file GSTR-9 & GSTR-9C for the FY 2019-20 has been further extended up to 31st March 2021.12-Jan-2022
Who needs to file 9C?
Taxpayers whose aggregate turnover in a financial year exceeds Rs 2 Crores need to file GSTR-9C. The GSTR-9C must be digitally signed by the GST Auditor and must report all discrepancies or liabilities in filing any of the GST returns during the financial year.30-Jun-2022
As per 43rd GST Council meeting outcome, GSTR-9 shall continue to be optional for taxpayers with turnover up to Rs. 2 crore, whereas GSTR-9C can be self-certified by taxpayers with turnover less than or equal to Rs. 5 crore from FY 2020-21 onwards.05-May-2022
Who is liable to gstr9?
GSTR 9C is an audit form that must be filed by all taxpayers whose aggregate turnover exceeds Rs. 2 crores in a financial year and is liable to get their annual reports audited.11-Nov-2021
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.26-Aug-2021
How do you make a 9C?
Step 1: Login to the GST portal and go to returns dashboard and click on 'Annual Return'. Select the financial year from the drop-down menu. Step 2: Select 'Initiate e-filing' to file GSTR-9C. A pop-up will appear on the screen asking to file GSTR-9 before filing GSTR-9C.12-Jan-2022
GSTR-9B is an annual return to be filed by every E-commerce operator who is required to collect tax at source under section 52 (5) of the CGST Act, 2017. It contains the details of outward supplies of goods and services, returns if any, and the amount collected during the financial year.
How do I pay my Gstr-9 late fee?
A tab “Late fee payable and paid” is enabled once the status of Form GSTR-9 is ready to file. Late fees has to be paid only through Electronic Cash Ledger. One needs to make the payment of late fees by navigating to Form GST DRC-03.30-Dec-2020
All the regular taxpayer registered under GST and having an annual turnover of more than Rs. 2 crore should file GSTR-9 or GST Annual Return. The only category of GST registered entities not required to file GSTR-9 filing are input service distributors, casual taxable persons and non-resident taxable persons.
What is the limit for GST registration?
There has been no change in the threshold limits for service providers. Persons providing services need to register if their aggregate turnover exceeds Rs. 20 lakh (for normal category states) and Rs. 10 lakh (for special category states).4 days ago
Table 14 of GSTR-9C is optional. This table asks for reconciliation of ITC declared in GSTR-9 with ITC availed on expenses as per audited annual financial statement or as per books. The above optional tables are notified for FY 2019-20 vide notification no. 79/2020 – Central Tax dated 15.10.18-Jan-2021
Is GST applicable on audit fees?
Prior to 1.7. 2017, service tax was leviable on audit services. Therefore GST can be shown in the same way how service tax paid for such service was shown. If the bill for audit is raised after introduction of GST then you have to charge GST only.05-Aug-2017
The Central Board of Indirect Taxes and Customs (CBIC) in a notification said that late fee shall be waived from May 1 to June 30, 2022, for delay in filing GSTR-4 for 2021-22 fiscal. GSTR-4 is filed annually by the taxpayers registered under the composition scheme.26-May-2022
Is Gstr 9 auto populated?
Below tables in Form GSTR-9 has auto-populated data, from already filed Form GSTR-1 and Form GSTR-3B of the relevant financial year: 4. Details of advances, inward and outward supplies made during the financial year on which tax is payable. 5.
Furnishing of the annual return is mandatory only for taxpayers with aggregate annual turnover above Rs 2 crore while a reconciliation statement is to be furnished only by the registered persons having aggregate turnover above Rs 5 crore.30-Dec-2021
How much is the penalty for Gstr 9C?