In this article we will discuss about GST Annual Reconciliation Statement- GSTR-9C. We will discuss only the GSTR -9C PART-1 and PART-II from S.No.5 to S.No.6. Remaining part we will discuss in next article. Basically GSTR-9C is a reconciliation between Annual Return -GSTR-9 and Audited Financia..
GST Audit have two Parts: PART-A is Reconciliation Statement and PART-B is Certification
PART A is divided into 5 sub-parts.
Part I contains basic details of taxpayer, while doing GST Audit of basic details following points needs to be considered:
1. Financial year -
Generally financial y..
When an Entity has registrations in more than one State / UT, each unit/branch is treated as distinct person in terms of Section 25 of the CGST Act and each of these units is required to get its records audited under the GST Laws. (If falling under GST audit criteria).
However, following taxable..
Introduction: As 30th June, 2019 is fast approaching the GST Practitioners, auditors and assessees are involving themselves in filing annual return GSTR 9 and 9C. Filling every table in the GSTR 9 is not that much easy as any wrong filling will result ..
Arjuna (Fictional Character): Krishna, When is GST Audit applicable?
Krishna(Fictional Character): Arjuna, GST Audit for FY 2017-18 is applicable to every registered person whose aggregate turnover during a financial year exceeds Rs. 2 Crores. The copy of audi..
Taxpayers have reported some issues in filing their Form GSTR 9/9C, which are clarified below:
(A) Relating to Annual Return Form GSTR 9:
1. Auto-population of ITC figures in Table 8A of Form GSTR-9 based on Form GSTR-2A: Some taxpayers have reported that figures of Input..
GST law was supposed to Simply the Indirect Tax Practice &
Compliance thereof. But the same seems to be nightmare. Annual GSTR 9 format
introduced by GST Authorities has lot of complications being faced by Taxpayers
& Tax Professionals. Government has recently given clarification on ..
It is surprising that even as on date 2nd wekk of June 2019 (with just 18 days left) - the urgency to upload the GST Annual Return & get audit conducted well in time is not being felt across India. We understand that there are many instances where the auto populated annual return without r..
Large Tax payers (Having Turnover > 5 Crores)
GSTR 3B to be filed till November 2019
GSTR 1 to be filed till September 2019
For October and November 2019 file GST ANX-1
From December 2019 only GST-RET-1 is to be Filed
(GSTR 3B and GSTR 1 is combined ..
The implementation of and adherence to a new law is always a complicated and cumbersome exercise. This was no different in case of the GST law in India. The law brought with it multiple rates for the innumerable and varied HSN codes.
The ordeal of understanding and assessing the rates and pro..