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Turnover limit for GSTR 9 and 9C for FY 2018-19


Dhruv Jain (Practicioner)     06 June 2020

Dhruv Jain
Practicioner 
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what is the latest turnover limit for GSTR 9 and 9C for the FY 2018-19.

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Vishesh Surana   06 June 2020

Vishesh Surana

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GST audit limit extended to 5 cr

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asheeq ua (ca ipcc)     06 June 2020

asheeq ua
ca ipcc 
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Sir what about annual return?

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Shivam RC (Student)     06 June 2020

Shivam RC
Student 
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TURNOVER LIMIT for GSTR-9 and GSTR-9C for FY 2018-19 :

1). Annual Return ( GSTR-9 ) : Above Rs. 2 crores.
2). Reconciliation Statement and Audit Report ( GSTR-9C ) : Above Rs. 5 crores.

LEGAL BACKGROUND :

1). As per Notification No. 47/2019 - Central Tax, dated 09th October 2019 read with Circular No. 124/43/2019 - GST, dated 18th November 2018, "Filing of Annual Return ( GSTR-9 ) for FY 2017-18 and FY 2018-19 has been made OPTIONAL for those Taxpayers having Aggregate Turnover upto Rs. 2 crores."

Therefore if your Aggregate Turnover is upto Rs. 2 crores, it is "OPTIONAL" to file GSTR-9 for FY 2018-19. Note that the Annual Return shall be "DEEMED TO BE FURNISHED ON THE DUE DATE" if it has not been furnished before the due date of the respective FY.

2). As per Notification No. 16/2020 - Central Tax, dated 23rd March 2020, the CGST Rules 2017 was amended inorder to increase the Turnover limit of filing FORM GSTR-9C. A new PROVISO has been inserted to Rule 80(3) of the CGST Rules 2017, which states that "Filing of FORM GSTR-9C for FY 2018-19 will be mandatory only for those taxpayers whose Aggregate Turnover EXCEEDS Rs. 5 crores. "

Therefore, Audit Report ( GSTR-9C ) for FY 2018-19 is mandatory to only those Taxpayers whose Turnover exceeds Rs. 5 crore. ( Note that the previous Threshold limit was Rs. 2 crores ).

Warm Regards,
Shivam RC.

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KRISSHNAN KP   07 June 2020

KRISSHNAN KP

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2lak turnover limit is correct

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GIRIDHAR (ARTICLES)     11 June 2020

GIRIDHAR
ARTICLES 
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Is 5 Cr limit applicable to all? or only for msme?

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sakthi (GM - FINANCE & OPERATION)     21 October 2020

sakthi
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Hi,

For GSTR - 9 reconciliation work, we have to compare our books of accounts with GSTR 1 (or) GSTR3B?

debora M (BUSINESS DEVELOPMENT MANAGER)     21 October 2020

debora M
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Audit under GST applies to those registered persons whose Annual aggregate turnover exceeds rupees two crores^ in that FY. ^The limit is enhanced to Rs 5 crore for the GSTR-9C of FY 2018-19 as per the CBIC notification dated 23rd March 2020.

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Heet Shah (Tax Consultant)     21 October 2020

Heet Shah
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Originally posted by : sakthi
Hi,

For GSTR - 9 reconciliation work, we have to compare our books of accounts with GSTR 1 (or) GSTR3B?

Both gstr1 and 3b shall reconcile with books

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Heet Shah (Tax Consultant)     21 October 2020

Heet Shah
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Originally posted by : Heet Shah



Originally posted by : sakthi



Hi,

For GSTR - 9 reconciliation work, we have to compare our books of accounts with GSTR 1 (or) GSTR3B?





Both gstr1 and 3b shall reconcile with books

Gstr9 fetches the data from GSTR 1 but if your books and 3b is reconciled you may disclosed the other figure in GSTR9


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