GST Articles

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..

Posted in GST  6 comments |   880 Views

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..

Posted in GST  2 comments |   2830 Views

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..

Posted in GST  4 comments |   494 Views

.style2 { font-weight: bold; } 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 ..

Posted in GST  2 comments |   1148 Views

Applicability of GST Audit

  CA Umesh Sharma    17 June 2019 at 10:54

.style1 { text-align: left; } 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..

Posted in GST  4 comments |   1676 Views

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..

Posted in GST  3 comments |   6577 Views

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 ..

Posted in GST  63 comments |   6551 Views

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..

Posted in GST  1 comments |   3510 Views

Large Tax payers (Having Turnover > 5 Crores) OLD RETURNS GSTR 3B to be filed till November 2019 GSTR 1 to be filed till September 2019 NEW RETURNS 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 ..

Posted in GST  6 comments |   2922 Views

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..

Posted in GST  1 comments |   495 Views

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