GSTR-9A

GSTR-9A – Overview, Due Dates & Format

1. What is GSTR-9A?

The GSTR-9A is the annual declaration that must be submitted by taxpayers who have opted for the Composition Plan under GST for a particular financial year. It includes all the information provided in the quarterly returns filed by the composition taxpayers during that financial year.

2. Who should file GSTR-9A?

All taxpayers registered under the composition tax scheme under GST must submit GSTR-9A.

However, the following people are not required to submit GSTR-9A:

  • Non-resident taxable persons
  • Input service distributor
  • Casual Taxable Person
  • Persons paying TDS under section 51 of the Act
  • E-commerce operator paying TCS under section 52 of the Act

3. When is GSTR-9A due?

The GSTR-9A must be submitted before December 31 following the close of the financial year. For example, if the composition taxpayer is submitting GSTR-9A for the fiscal year 2017-18, the taxpayer must submit it before December 31, 2018.

4. What is the penalty for the late filing of GSTR-9A?

GSTR 9

5. Details to be provided in GSTR-9A?

GSTR 9

[frontpage_news widget=”2154″ name=”GST”]

 

How to file GST Annual Return or conduct GST audit?

The audit under GST is the process of examining records, statements and other documents maintained by a taxpayer. The purpose is to verify the accuracy of the declared turnover, the taxes paid, the refund claimed and the tax credit provided, and to assess compliance with the provisions of GST

The tax on goods and services or GST will be a tax to subsume all taxes. It will bring in the regime of “One nation one tax”. To keep a check and examine if the correct GST is being paid and the refund is claimed, certain taxpayers will be subject to an audit under the GST.

GST Auditors in Bangalore

[maxbutton id=”3″ url=”https://certicom.in/contact-best-chartered-accountant/” ]

Threshold for Audit

Each person subject to registered taxes whose turnover during a financial year exceeds the prescribed limit [according to the latest GST Rules, the turnover limit is greater than Rs 2 crore] will have their accounts audited by an authorized accountant or a cost accountant You must submit electronically:

  1. An annual return using the Form GSTR 9B along with the reconciliation statement by 31st December of the next Financial Year,
  2. The audited copy of the annual accounts,
  3. A reconciliation statement, reconciling the value of supplies declared in the return with the audited annual financial statement,
  4. And other particulars as prescribed.

Rectifications after Return Based on Results of Audit under GST

If any person subject to taxes, after submitting a refund discovers some omission / incorrect information (from the results of the audit), it can rectify subject to the payment of interest. However, no rectification will be allowed after the due date to file the tax return for the month of September or the second quarter (as the case may be), after the end of the financial year or the actual filing date of the corresponding annual statement. Come back, whatever it is before.

[frontpage_news widget=”2154″ name=”GST”]

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.

[maxbutton id=”3″ url=”https://certicom.in/contact-best-chartered-accountant/” text=”GST Free Consultation” ]

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

[frontpage_news widget="879" name="Certicom - A Group of Chartered Accountants - Articles"]