The article covers the following topics:
Latest Update on GSTR-9 and GSTR-9C
Update as on 28th February 2021The due date to file GSTR-9 & GSTR-9C for the FY 2019-20 has been further extended up to 31st March 2021.
Budget 2021: Update as on 1st February 2021 GST audit requirement by specific professionals such as CAs and CMAs has been removed from the GST law. Section 35 and 44 were amended for this. As per the amendment, only GSTR-9-annual returns on a self-certification basis needs to be filed on the GST portal by taxpayers, completely removing the requirement for GSTR-9C -reconciliation statement. However, the financial year and date of applicability of this removal are yet to be clarified by the government. Update as on 30th December 2020 The due date to file GSTR-9 & GSTR-9C for the FY 2019-20 has been extended up to 28th February 2021. Update as on 28th Oct 2020 The due date to file GSTR-9 & GSTR-9C for the FY 2018-19 is further extended up to 31st December 2020.1. What is Form GSTR-9C?
GSTR-9C is a reconciliation statement required to be furnished by a taxpayer whose turnover exceeds Rs.2 crore in a financial year while filing his annual return in form GSTR-9. It should be prepared and certified by a Chartered Accountant/Cost Accountant. The reconciliation will be between the annual return in form GSTR-9 and the figures as per the audited annual financial statements of the taxpayer. Thus, every registered taxpayer whose turnover exceeds Rs.2 crores shall get his accounts audited by a Chartered Accountant/Cost Accountant. The reconciliation statement based on the audit performed will be issued in form GSTR-9C. It will consist of both gross and taxable turnover as per the Books and GST returns. All the differences will be reported in GSTR-9C along with reasons by an auditor. This will ensure an accurate self-assessment of taxes by a taxpayer.2. What are the Steps to Generate Form GSTR-9C JSON File Offline?
Step 1: Visit the GST Portal. Step 2: Download the Utility 1. Go to Downloads>Offline Tools>GSTR-9C Offline Tool and click download.
2. Unzip the GSTR-9C offline utility into an excel file.
Note: The offline functions of the utility work best on Windows 7 and above and MS EXCEL 2007 and above and the same is not mobile compatible.
Step 3: Fill the Utility
Open the ‘Read Me’ instructions page and fill the worksheets of GSTR-9C. A taxpayer can also download the GSTR-9C tables derived from GSTR-9 in PDF format, after logging in to their account, and pass on the same to the auditor. An auditor can use these tables for updating the offline utility of GSTR-9C.
After updating the utility an auditor should generate the JSON file and shall affix his digital signature. Upon completion of verification and signing, he should pass on the JSON file to the taxpayer for uploading.
Note: A taxpayer cannot make any changes to the JSON file generated by the taxpayer. The system validates the same before filing the Form.
Step 4: Upload GSTR-9C
1. Login to the GST portal and go the ‘Returns Dashboard’. Select the financial year, tax period and then click ‘Prepare Offline’.
2. Click on the ‘Upload’ option to upload the JSON file prepared using the offline tool. The uploaded file will be validated and processed by the portal.
Note:
- In case the JSON file is uploaded with error, a taxpayer can return the same to the auditor for correction. After correction, the same can be re-uploaded.
- The GSTR-9C utility can be downloaded by a taxpayer without logging-in to the portal, however, to upload the same a user needs to login to the portal.
3. What are the Steps to Upload and File Form GSTR-9C Online?
Step 1: Login to the GST portal and go to returns dashboard and click on ‘Annual Return’.
Select the financial year from the drop-down menu.
Step 2: Select ‘Initiate e-filing’ to file GSTR-9C. A pop-up will appear on the screen asking to file GSTR-9 before filing GSTR-9C.
Step 3: File GSTR-9 if not already filed.
Step 4: After filing GSTR-9, upload the JSON file of GSTR-9C (as per steps mentioned above). Then go back and click on ‘Initiate Filing’ under the GSTR-9C options.
Step 5: Attach the balance sheet, profit and loss statement or statement of income and expenditure, cash flow statement, and the UDIN generated by the Chartered Accountant.
Step 6: Proceed to file GSTR-9C with EVC or digital signature, as applicable.
