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Arjuna (Fictional Character): Krishna, new utility for GST Audit Report was made available to taxpayers on 24 December, 2019. What changes were made in the utility?

New Year at last brings revised GST Audit Form

Krishna (Fictional Character): Arjuna, after many delays the utility for GST Audit was released by GSTN. The utility for GSTR-9C was updated as per notification issued on 14th November, 2019.  The year 2017 is about to end while awaiting for the audit report form. Now in the year 2020, audit of the year 2017-18 and 2018-19 will be uploaded due to GSTN Portal and Audit forms technical issues.

Arjuna: Krishna, what are the changes in new offline tool of GSTR-9C i.e. GST Audit Report for F.Y 17-18?

Krishna: Arjuna, the following changes were made-

  • Now, compulsion to provide Cashflow statement has been removed.
  • “True and Fair” is to be reported by auditor instead of “True and Correct” as specified in the notification.
  • The taxpayer would have option to provide details of reconciliation of gross turn-over in Table 5 (Reconciliation of Outward Supplies).  
  • The taxpayers have been given option to provide details in Table 12 i.e. reconciliation of ITC on inward supplies.  ITC booked in earlier F.Y and claimed in current year and ITC booked in current F.Y and claimed in subsequent year.
  • Expense head-wise details of ITC in Table 14 may not be provided.

Arjuna: Krishna, what changes are in made in GSTR-9?

Krishna: Arjuna, changes are as follows :

  • The taxpayer would have “option” to report taxable outward supplies net of debit and credit notes.
  • The “option” to report taxable outward supplies net of amendments.
  • The Exempted, Nil-rated, Non-GST can be shown net of debit and credit notes.
  • The Exempted, Nil-rated, Non-GST can be shown under exempt.
  •  In Table 15 of Demand and Refund details is optional.
  • The bifurcation of ITC as Input, Input services and capital goods is made optional.
  • Also, the bifurcation of ITC reversals may not be provided.
  • The HSN-wise summary to be provided for both inward and outward supplies are made optional.

Arjuna: Krishna, what lesson one should learn from this?

Krishna: Arjuna, the new utility was made available on Christmas eve.GSTN portal made available new utility before New Year. So, the taxpayers may upload their GST Annual Report and Audit Report in new utility with new mindset. The due date for filing GST Audit Report is 31st January, 2020. One should upload the report giving proper notes and disclosures, care must be taken that there is no last-minute hurry and worry in new year.

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Category GST, Other Articles by - CA Umesh Sharma