Government of India Ministry of Finance Department of Revenue New Delhi, 28th Febraury,2021 It may be noted that the due date for furnishing of the Annual returns (GSTR-9 and GSTR-9C) specified under section 44 of the CGST Act read with rule 80 of the CGST rules for the financial year 2019-20 was earlier extended from 31.12.2020 to 28.02.2021 vide Notification No. 95/2020- Central Tax dated 30.12.2020. In view of the difficulties expressed by the taxpayers in meetin..
Advisory on Reconciliation Statement (GSTR-9C) Reconciliation statement to be filed in Form GSTR-9C requires the tax rate wise declaration of transactions for the concerned financial year. In the said form, tax amount pertaining to tax rates 1%, 1.5% and 7.5% in section III (table 9 and 11) and section V may be made in row/ under label ‘Others’ of the said tables, wherever applicable. Advisory on Annual Return (GSTR-9) The taxpayers are advised to ensure that value..
Date: 24th February, 2021 To, Smt. Nirmala Sitharaman Hon’ble Chairperson, GST Council 15, Safdarjung Road New Delhi – 110001 Hon’ble Madam, SUBJECT: REPRESENTATION SEEKING EXTENSION OF DUE DATE FOR FURNISHING GSTR9C FOR 2019-20 The Karnataka State Chartered Accountants Association (R) (in short ‘KSCAA’) is an Association of Chartered Accountants, registered under the Karnataka Societies Registration Act, in the year 1957. KSCAA is primarily formed for..
The taxpayers are advised to ensure that values are reported upto two decimal places in the GSTR-9 offline utility. The error "Error! Invalid Summary payload" after uploading the JSON created from the Offline Utility of GSTR-9 is reported due to reporting values upto three decimal places instead of two decimals. Thanking you, Team GSTN ..
CGPI has filed the request to grant extension for GSTR 9 & 9C – Financial Year 2019/20 from 28.02.2021 to 31.03.2021 considering grass root realities faced by all the stakeholders as, we have been approached by many of the denizens of our country including professionals and our own members frantically imploring us to file representations for seeking extension of time to effect the aforesaid compliance. If extension is granted then it would act as a win-win situation for all. In no w..
FOR FY 2019-20 Recently financial budget 2021 has proposed to omit the provision section 35(5) and amend section 44 of CGST Act, 2017. After acceptance of the bill by the president of India, GST audit need not to file. Recently CBIC clarified through a retweet on tweeter that 'Section 35 and 44 of CGST Act are proposed to be amended in Finance Bill, 2021. However, these proposals will come into effect from a date to be notified later. For FY 2019-20, the existing provisions shall c..
GSTR-9 • Form GSTR-9 is an annual return to be filed once, for each financial year, by the registered taxpayers. The taxpayers are required to furnish details of purchases, sales, input tax credit or refund claimed or demand created etc in this return. • Notification No. 77/2020 - Central Tax dated 15-10-2020 gives benefit of optional filing of annual return for registered persons whose aggregate turnover in a financial year does not exceed Rs 2 crore, for FY 2019-20 as well. Th..
Applicability of Form GSTR-9 For FY 2019-20, those registered persons whose aggregate turnover in a financial year does not exceed Two Crore rupees and who have not furnished the annual return under shall have the option to furnish the annual return. Provided that the said return shall be deemed to be furnished on the due date if it has not been furnished before the due date. (Notification No. 77/2020 Central Tax Rate dated 15/10/2020 read with Notification No. 47/2019 Central Tax Rate ..
We are at the fag end of filing the annual return and audit certification (GSTR 9 & 9C) For FY 2018-19 (courtesy of multiple extensions )i.e., on 31st December 2020. Taxpayers have an option to pay additional liability not declared in GSTR-1 or GSTR-3B, in GSTR-9 through Form DRC-03 based on para 4 of GSTR-9 instructions for FY 2017-20. This article enumerates utilization of ITC against GST liability for payment through DRC-03 during GSTR-9 filing which would be beneficial to many taxp..
Facility to file annual return in Form GSTR-9 for FY 2019-20 is now available. The Form is enabled for taxpayers whose table 8A computation has been completed. Computation of the table 8A of the said return for auto population from returns is under progress which is likely to be completed soon. Please ensure that all applicable returns of the said year have been filed before attempting to file the said return. ..
Due dates for filing of Form GSTR-3B for the Tax Periods from October, 2020 till March, 2021 1. Government of India, Ministry of Finance (Department of Revenue), CBIC, vide Notification No. 82/2020 – Central Tax, dated 11th Nov., 2020, has added sub rule (6) to Rule 61 of the Central Goods and Services Tax Rules, 2017, to provide for staggered filing of Form GSTR-3B, for the tax periods from October, 2020 till March, 2021. The details are as under: Sl. No Taxpa..
On the recommendations of the GST Council, it has been decided to extend the due date for filing Annual Return (FORM GSTR-9/GSTR-9A) and Reconciliation Statement (FORM GSTR-9C) for Financial Year 2018-19 from 31st October 2020 to 31st December 2020. Read the official announcement below: Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs New Delhi the 24. October 2020 Extension of due dates for Ann..