GSTN issues Advisory on Reconciliation Statement (GSTR-9C)

GSTR-9C advisory

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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