Gstr 9c mandatory
WebMar 21, 2024 · GSTR-9C (Reconciliation Statement) GSTR-9C is a reconciliation statement that needs to be filed by taxpayers whose aggregate turnover exceeds Rs. 2 crores in a financial year. The form is used to reconcile the taxpayer's annual returns (GSTR-9) with the audited financial statements. Mandatory Tables in GSTR-9C: 1. WebGSTR-9 and 9C are GST anuual returns. Taxpayers register under GST need to file this return on yearly basis. But not all taxpayers need to file this GSTR-9 and 9C annual return. There is GST annual return applicability rules for taxpayers. i.e. applicability of GST audit
Gstr 9c mandatory
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WebIn some cases, GSTR 9 is accompanied by another form GSTR 9C. GSTR 9C is made mandatory to be filled by certain taxpayers. Due to recent changes, It is easy for a layman to get confused. The following sections will help you understand GSTR 9C, Its format, applicability and the procedure to file it. WebDec 8, 2024 · GSTR 9 is to be furnished by all taxpayers whose aggregate turnover exceeds INR 2 crore. Conversely, GSTR 9 is exempt for taxpayers whose aggregate turnover is less than or equal to INR 2 crore. Further, a …
http://caportal.saginfotech.com/blog/gstr-9c-annual-return-form-due-date/ WebAug 16, 2024 · For FY 2024-18, you can file the GSTR-9C by paying the general under section 125 of CGST Act, 2024 i.e. INR 25,000 (total INR 50,000 including SGST). For …
WebGSTR-9 and 9C are GST anuual returns. Taxpayers register under GST need to file this return on yearly basis. But not all taxpayers need to file this GSTR-9 and 9C annual … WebDec 6, 2024 · What is the Applicability of GSTR 9C? It is mandatory for registered taxpayers with a total turnover exceeding ₹5 Cr for the relevant financial year to file the GSTR 9C reconciliation statement. GSTR 9C must be prepared and self-certified by the taxpayer on the GST portal. This return is applicable to taxpayers who shall get their …
WebAug 2, 2024 · So, in nutshell GSTR 9 is mandatory for registered person whose aggregate turnover is Rs.2 cr. Or more. GSTR 9C is mandatory for Registered person whose aggregate turnover in FY 2024-21 exceeds Rs.5cr. Fields which were made optional for financial year 2024-20 are made optional for FY 2024-21 also.
WebDec 29, 2024 · Disclosure 6:- Reporting in GSTR-9C requires verification of the eligibility of Input Tax Credit in accordance with the provisions of CGST Act, 2024/GGST Act, 2024 and relevant rules made thereunder. Further provision of Section 16 (2) (b) requires that tax payer should have received goods or services or both for being eligible to claim input ... iphone 11 brand new sealedWebMar 10, 2024 · What is GSTR 9C? GSTR 9C is a reconciliation statement that must be filed along with GSTR 9. It is mandatory for taxpayers whose annual turnover exceeds Rs. 5 … iphone 11 buen finWebFeb 3, 2024 · It is stated that the Finance Minister, Smt. Nirmala Sitharam in her Budget Speech on 1st day of February 2024, omitted Section 35(5) and substituted Section 44 [by Section 101 & 102 of the Finance Act, 2024 respectively] of the CGST Act, 2024, so as to remove the mandatory requirement of furnishing a Reconciliation Statement (GSTR-9C) … iphone 11 broken screen repair costWebNov 25, 2024 · Taxpayers need not file annual return in FORM GSTR-9/9A for FY 2024-22 if their aggregate annual turnover is up to Rs. 2 crores. (If 9 not filed, 9C not required) Liability as per table 4 must be considered as final liability (as per books) irrespective of liability disclosed in GSTR 3B + Form DRC-03 during the FY. iphone 11 bug problemsWebDec 17, 2024 · WHAT IS GSTR 9C? GSTR 9 C is reconciliation statement of GSTR 9 and Financial Statements: –-Output Turnover-Outward Taxable value Turnover-Outward … iphone 11 bulgariaWebFeb 1, 2024 · The 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 … iphone 11 butt dialingWebForm GSTR-9C is required to be filed by every registered person whose aggregate turnover is above a certain threshold during the financial year, as notified by way of Notifications issued by Government of India from time to time. ... Is it mandatory to file Form GSTR-9? Yes, it’s mandatory to file Form GSTR-9 for normal taxpayers. It may ... iphone 11 bumper case