What is the penalty for Gstr 9C?
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
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
Is it compulsory to file Gstr 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
Penalty for not submitting GST Audit report There is no specific provision. Hence, it is subject to a general penalty of Rs. 25,000.05-May-2022
Is there any penalty in Gstr-9?
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
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
What is the fees for GST audit?
Generally fees charged by the CA's is Minimum around Rs. 5000/- .19-Dec-2018
Who should file GSTR 9C? Every taxpayer who is liable to get their annual reports audited is required to file GSTR9C. (A taxpayer must get their annual reports audited under GST law if their annual aggregate turnover exceeds Rs. 2 crores within a financial year.)26-Aug-2021
Is annual return mandatory?
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
Rs 2 crore^
How do I reconcile my Gstr-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
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
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
As per the Council decision taken at its 379th Meeting held on 17th & 18th December, 2018, UDIN has been made mandatory in phased manner as per following schedule: For all Certificates w.e.f. 1st February, 2019. For all GST and Tax Audit Reports w.e.f. 1st April, 2019.01-Feb-2022
What if Gstr 9 is wrongly filed?
The error made in GSTR 1 or GSTR 3B shall be rectified in respective forms only. No rectification can be made in GSTR 9 annual return. But the changes so made relating to the relevant financial year shall be duly reported in the annual return yet to be filed.09-Nov-2021
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.30-Jul-2021
What happens if annual return not filed?
Any Director who has defaulted in the filing of annual return of a company can also be penalized with an imprisonment of a term extended up to six months or with a fine of an amount not lesser than fifty thousand rupees and it might extend up to five lakh rupees, or with both imprisonment and fine.
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.
How is GST penalty and interest calculated?
Note: The Interest has to be calculated from the next day on which the tax was due.2. Interest under GSTR.
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.27-May-2022
What are the 3 types of audits?
There are three main types of audits: external audits, internal audits, and Internal Revenue Service (IRS) audits. External audits are commonly performed by Certified Public Accounting (CPA) firms and result in an auditor's opinion which is included in the audit report.
What is the penalty for Gstr 9C?