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

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

ARCHANA

ARCHANA

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30 September 2021 Thank you sir for your quick reply ,

CMA Poornima Madhava

CMA Poornima Madhava (Expert)
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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

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

CMA Poornima Madhava

CMA Poornima Madhava (Expert)
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01 October 2021 Self certification means the tax payer can herself/himself/itself certify instead of audit by an external professional.

ARCHANA

ARCHANA

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01 October 2021 Thank you mam for clarification

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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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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