Is Gstr 9 due date extended?
“The revised due dates and above announcements have been implemented under official CBEC GST notification & latest GST circulars/orders by Govt CBIC department” “The due dates are extended of filing GSTR 9/9A/9C till 31/12/2020”.12-Jul-2022
All taxpayers/taxable persons registered under GST must file their GSTR 9. However, the following are NOT required to file GSTR 9: Taxpayers opting composition scheme (They must file GSTR-9A) Casual Taxable Person.13-Jun-2022
Is Gstr 9 abolished?
The due date to file GSTR-9 & self-certified GSTR-9C for the FY 2020-21 has been extended up to 28th February 2022. The CBIC has exempted GST-registered taxpayers with annual aggregate turnover up to Rs. 2 crore in FY 20-21 from filing Form GSTR-9. The CBIC has notified changes to Sections 35(5) and 44 of the CGST Act.05-May-2022
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.
What if Gstr 9 is not filed?
Penalty Norms When you Miss the Due Date of GSTR-9 Filing As per the penalty provisions of the GSTR-9 annual return form, the taxpayer has to pay Rs. 200 per day as a penalty in which Rs. 100 consists of SGST and Rs. 100 for CGST.06-Jul-2022
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 .12-Jan-2022
What is turnover limit for Gstr-9?
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.14-Jul-2022
Form GSTR-9 is an annual return to be filed once for each financial year, by the registered taxpayers who were regular taxpayers, including SEZ units and SEZ developers. The taxpayers are required to furnish details of purchases, sales, input tax credit or refund claimed or demand created etc.
Who Must file Gstr-9 annual return?
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
December 31, 2022
Is GST audit compulsory?
Persons who are registered taxpayers and whose turnover exceeds GST limit of Rs 2 Crores in a particular financial year are liable for GST audit. It is mandatory for such persons to get their accounts audited from a practicing chartered accountant or a cost accountant.
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
Is HSN compulsory in Gstr-9?
HSN-wise summary of inward supplies is required in GSTR-9, which requires a lot of digging into the books of accounts. Supplies from Composition dealers are to separately shown in Table 16A.12-Jan-2022
Note that the ITC for FY 2017-18 can no longer be claimed freshly in GSTR-9. The department has exempted taxpayers with a yearly turnover of more than Rs. 2 crore during the FY 2021-22 from filing GSTR-9 or annual returns.12-Jan-2022
Is GST annual return mandatory for turnover less than 2 crore?
GST Council Recommendations Accepted: The government has exempted registered persons whose aggregate turnover in the financial year 2021-22 was up to Rs 2 crore from filing the annual return for the financial year.06-Jul-2022
Ans: After filing of your return in Form GSTR-9, you will get a link to navigate to Form GST DRC-03 to pay tax, if any. Any additional payment can be made using Form GST DRC-3 functionality only through utilisation from Electronic Cash Ledger.19-Oct-2020
Is Gstr 9C mandatory for nil return?
GSTR 9C is mandatory for Registered person whose aggregate turnover in FY 2020-21 exceeds Rs. 5cr. Fields which were made optional for financial year 2019-20 are made optional for FY 2020-21 also. Self-certified GSTR 9C is implemented from FY 2020-21.02-Aug-2021
But figures in table 8A of Form GSTR-9 are auto-populated only on the basis of only FILED Form GSTR-1 by the supplier taxpayer.
What is tax audit limit?
As per section 44AB, following persons are compulsorily required to get their accounts audited : A person carrying on business, if his total sales, turnover or gross receipts (as the case may be) in business for the year exceed or exceeds Rs. 1 crore.
How to file GSTR-9
Is Gstr 9 and 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.12-Jan-2022
Is Gstr 9 due date extended?