GSTR 9C

Reconciliation Statement & Certification- Filing, Format & Rules

GSTR-9C is the GST Reconciliation Statement for a particular FY that must be filed by taxpayers on or before December 31, after having been certified by the CAs. It must be submitted together with the GSTR-9 (Annual Statements) and the audited Financial Statements in the GST Portal or must be submitted through the facilitation centre.

1. What is GSTR-9C?

GSTR-9C is a declaration of reconciliation between:

  • Annual statements in GSTR-9 filed for a fiscal year, first in 2017-18 and
  • The figures according to the Annual Audited Financial Statements of the taxpayer.

It is certified by the CA. It can be considered to be similar to that of a financial audit report provided under the Income Tax Law. It will consist of a gross and taxable billing according to the Reconciled Books with the respective figures according to the consolidation of all the GST statements for an FY, Therefore, any difference arising from this reconciliation exercise will be reported here together with the reasons for it.

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2. What is the due date for GSTR-9C?

The expiration date to submit the annual returns in GSTR-9 is the same term for the presentation of GSTR-9C. Therefore, the GSTR-9C must be submitted no later than December 31 of the year after the relevant FY under audit.

For example, for the 2017-18 fiscal year, the due date to submit the GSTR-9C will be December 31, 2018.

3. What’s the importance of GSTR-9C?

A chartered accountant or cost accountant must prepare this GST reconciliation statement. Any difference between the details reported in all GST returns and the Audited Accounts must be reported by the CA in the present with the reasons for the differences. In addition, this statement acts as a basis for GST authorities to verify the accuracy of the GST statements submitted by taxpayers. This is because the CA must certify any additional liability arising from the conciliation exercise and the GST audit at GSTR-9C.

4. Detailed Format of GSTR-9C

Part-A: Reconciliation Statement

GSTR9

Part-B:Certification

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Want to register a software company in India?

What is the process to register a software company in India?

To advance the registration of a software company, the first thing to do is obtain the approval of your company name with the consent of ROC (Registrar Of Companies). Then you have to get CIN (company identification number).

After obtaining the CIN, you must send all your legal documents, as well as other legal forms. During this process, you must mention all the necessary information about the company.

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To start a software company, the company must undergo previous registration processes that are the following:

  • Direct identification numbers
  • Reservation of the name of the company
  • Electronic Signatures

When you incorporate a software company, you first have to identify your directors. The number of directors must be between 2 and 8 inclusive, but not to be less than or greater than that. Directors must have Director Identification Numbers (DIN). If they do not have DIN, they must request it.

register a company in bangalore

They have to present their proof of identity and proof of residence to request this. Proof of identity can be a PAN, Passport, DL or voter identification card and proof of address can be DL, Ration card, EB invoice, passport or telephone bill.

1. Obtain a digital signature certificate (DSC)

2. Create an account on the MCA portal: new user registration

Steps to follow when setting up a software company

  • First, one has to give a brief description of the business, such as the type of product, the field, the objective and the type of technology that will be used. You should mention everything related to that software, such as how it will be developed and supplied to the market, etc.
  • Then, select the company form either single or private property or partnership. The key factor that decides the form of the company is the size of the company, the risk range, the target market and the budget. Plan according to your objective if you go nationally or globally.
  • Select the region and update yourself on the commercial laws that are executed in that region of perspective.
    Register your software company under ROC. When registering, it is necessary to submit an application in the same office where the central office is located.
  • Choose the place where you want to set up your office. After obtaining the ROC certificate, you must start hiring employees.
  • It is best to register with the Employment Department of the state or region for legal hiring and job offers. Applying in a state can offer you to hire from anywhere in India. Without registration can cause problems in your hiring process.
  • Register under STPI (Software Technology Parks India). This can help you achieve full legal benefits and other benefits such as tax exemptions, etc.

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Abut Company Annual Filing

THE ANNUAL PRESENTATION OF A COMPANY

Companies in India must hold an annual general meeting at the end of each financial year and submit an annual statement to the Ministry of Corporate Affairs to maintain compliance. For the newly incorporated Companies, the Annual General Meeting must be held within 18 months after the date of incorporation or 9 months after the closing date of the financial year, whichever occurs first. The next Annual General Meeting must be held within 6 months after the end of that financial year. In India, the financial year normally starts on April 1 and ends on March 31. Then, the annual statement of the Company would be September 30.

COMPANY ANNUAL FILING

The annual statement consists of information and documents that include the Balance Sheet of the Company, the Profit and Loss Account, the Certificate of Compliance, the Registered Office Address, the Member Registry, the Details of Actions and Debts, the details of Debt and information about the Company’s Administration. The annual statement would also reveal the Company’s share structure, changes in the Management and the details of the transfer of securities. The business concert can help you present your company’s annual statement in India.

Company registration Consultants in Bangalore

ANNUAL COMPANY SUBMISSION PROCESS:

  • The annual presentation of the company
  • Preparation for the annual return
  • Annual return verification
  • Project Completion

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