GST9C Audit is Mandatory or not

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For the financial year 2020-21, the GST 9C annual return audit is not mandatory for businesses with an annual turnover up to ₹5 crore. For those exceeding ₹5 crore, self-certification of the GSTR-9C is required. Importantly, external audits by a CMA or CA are no longer compulsory for any turnover from FY 20-21 onwards, as the mandatory requirement under Section 35(5) of the CGST Act 2017 has been omitted.

ARCHANA

ARCHANA (Querist)

30 September 2021 Sir/Mam,

GST9C Annual Return FY 20-21 Audit is mandatory or not, if mandatory how much turnover we have to audit. what is self certification ?

Plz clarify my doubts

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)

30 September 2021 Mandatory if annual turnover > Rs. 5 crores

ARCHANA

ARCHANA (Querist)

30 September 2021 Thank you sir for your quick reply ,

CMA Poornima Madhava

CMA Poornima Madhava (Expert)

01 October 2021 For turnover upto ₹5 cr, gstr9c is not mandatory. For turnover over ₹5cr, self certification of gstr9c is required to be done. No audit is required to be done by an external CMA/CA in any case w.e.f. fy 20-21.

ARCHANA

ARCHANA (Querist)

01 October 2021 Thank you mam for your reply, what is self certification kindly explain.

CMA Poornima Madhava

CMA Poornima Madhava (Expert)

01 October 2021 Self certification means the tax payer can herself/himself/itself certify instead of audit by an external professional.

ARCHANA

ARCHANA (Querist)

01 October 2021 Thank you mam for clarification

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)

02 October 2021 I stand corrected.
Inference - Clause 101 of Finance bill 101 through which the mandatory requirement per section 35(5) of CGST Act 2017 is omitted.

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