Every registered person whose aggregate turnover during a financial year exceeds Rs 2 crore shall get his accounts audited as specified under sub-section (5) of section 35 of the CGST Act, and shall furnish a copy of the audited annual accounts and a reconciliation statement, duly certified, in FORM GSTR-9C.
However in respect of FY 2018-19 and 2019-20 , FORM GSTR-9C is required to furnished only by persons having aggregate turnover exceeding Rs 5 crores.
As per Notification No. 95/2020-Central Tax dated 30-12-2020, the due date for filing of FORM GSTR-9C for FY 2019-20 was extended to 28-02-2020.
In regard to filing of FORM GSTR-9C an advisory has been issued by GSTN today in regard to disclosure of reconciliation of rate wise liability and amount payable thereon ( Table 9) and Additional amount payable but not paid (Table 11). The advisory reads as under:
Reconciliation statement to be filed in Form GSTR-9C requires the tax rate wise declaration of transactions for the concerned financial year. In the said form, tax amount pertaining to tax rates 1%, 1.5% and 7.5% in section III (table 9 and 11) and section V may be made in row/ under label ‘Others’ of the said tables, wherever applicable.
In regard to above it is submitted that the Table 9 and 11 of FORM GSTR-9C has separate rows for tax rate 5%, 12%, 18%, 28% , 3%, 0.25% and 0.10% but doesn’t have separate rows for tax rate 1%, 1.5% and 7.5%. For this GSTN has clarified that same may be disclosed in the row to be added under ‘Other” of the Tables 9 and 11.
Also Read: Filing GSTR-9 for FY 2019-20: Important points you should know
Source: GST portal
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CA. Mohammad Salim is an ICAI award winning Chartered Accountant having rich experience of more than 20 years in the field of indirect taxes. He is the Member, Indirect Taxes Committee of PHD Chamber of Commerce and Industry. He is author of four successful books on GST published by Taxmann Publication and is also GST expert on taxmann portal.
