What is the due date of Gstr 9C for FY 2021 22?
December 31, 2022
The taxpayers are required to file the GSTR-9 form and GSTR-9C for Financial Year 2020-21, by 31st December 2021 anyhow.43rd GST Council Meeting Updates for Annual Return Form.
When Gstr 9C is mandatory?
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
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
What is turnover limit for Gstr 9 and 9C?
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.05-May-2022
GSTR 9C Late Fees and Penalty However, any delay in filing the GSTR 9C within the prescribed deadline attracts the penalty clause of the GSTR 9C audit return form, and the taxpayer is liable to pay a late fee of ₹200 per day (₹100 each under CGST and SGST) as penalty.
What is the limit of Gstr 9C?
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.14-Jul-2022
31st December 2021
What 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.12-Jan-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.
What is difference between Gstr 9 9A and 9C?
GSTR 9 is an Annual Return all Tax Payers must file and GSTR 9C is a an Annual Reconciliation Statement that Tax payers with over Rupees 2 crore annual aggregate turnover should file. Many Tax Payers are often confused about who should file the returns.
GSTR-9C Turnover Limit Under GSTR 9 annual return, the government as also introduced GSTR9C audit form. GSTR 9C filing has been made mandatory for all the taxpayers whose annual aggregate turnover exceeds Rs. 2 Crore.
Why Gstr-9 is filed?
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. in this return.
GST Audit Based on Turnover: This type of audit is performed by the Cost Accountant or the Chartered Accountant appointed/hired by the taxpayer. According to the CGST Act, this audit is conducted when the turnover exceeds the limit of ₹ 2 crores, and the taxpayer needs to get audits for their records and accounts.31-May-2022
What is Gstr-9C in GST?
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.12-Jan-2022
all registered taxpayers under GST
What is the tax audit limit for FY 2021 22?
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.
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
What is the time limit for Gstr-9 & 9C for the FY 2019 20?
28th February 2021 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
As per the decision of the Council taken at its 379th Meeting held on 17th -18th December, 2018, UDIN was made compulsory for all practicing Chartered Accountants in phased manner i.e on all Certificates wef 1st Feb., and from 1st April, 2019 onwards on GST & Tax Audit Reports.01-Feb-2022
Is HSN compulsory in Gstr-9?
Table 17 of GSTR-9 requires the taxpayer to furnish the information of HSN summary on outward supplies. And Table 18 requires the information of HSN on inward supplies.27-Dec-2021
What is the due date of Gstr 9C for FY 2021 22?