Changes in GSTR 9 and 9C notified by ministry of Finance for FY 2020-21 | GSTR 9C/ GST audit to be self certified by taxpayer

written by GST expert | July 31, 2021

Ministry of Finance has vide Notification No. 30/2021 Dt. 30.07.2021 notified rules for GSTR 9, 9A, 9B and 9C for FY 2020-21 along with a few changes in the GSTR Form.

The below mentioned rules or changes shall be made applicable from 01.07.2021 and same shall accordingly apply for FY 2020-21.

The details of major changes in Rule 80 of CGST rules, 2017 are as under:

“80. Annual return.- (1) Every registered person, other than those referred to in the second proviso to section 44, an Input Service Distributor, a person paying tax under section 51 or section 52, a casual taxable person and a non-resident taxable person, shall furnish an annual return for every financial year as specified under section 44 electronically in FORM GSTR-9 on or before the thirty-first day of December following the end of such financial year through the common portal either directly or through a Facilitation Centre notified by the Commissioner:

Provided that a person paying tax under section 10 shall furnish the annual return in FORM GSTR-9A.

(2) Every electronic commerce operator required to collect tax at source under section 52 shall furnish annual statement referred to in sub-section (5) of the said section in FORM GSTR -9B.

(3) Every registered person, other than those referred to in the second proviso to section 44, an Input Service Distributor, a person paying tax under section 51 or section 52, a casual taxable person and a nonresident taxable person, whose aggregate turnover during a financial year exceeds five crore rupees, shall also furnish a self-certified reconciliation statement as specified under section 44 in FORM GSTR-9C along with the annual return referred to in sub-rule (1), on or before the thirty-first day of December following the end of such financial year, electronically through the common portal either directly or through a Facilitation Centre notified by the Commissioner.”

Thus, in the above rules we can see that there is no turnover limit mentioned for GSTR 9 Form and hence it becomes mandatory for all taxpayer registered under GST. However, the 43rd GST council meeting had suggested that for FY 2020-21 also it shall be optional for taxpayer with turnover upto Rs. 2 crore to file annual return and hence that we shall wait for any further notification on same.

The Turnover limit for GSTR 9C has been kept at Rs. 5 crore and all businesses with aggregate turnover above Rs. 5 crore will have to mandatorily file GSTR 9C.

Further, with regard to GSTR 9C an important amendment has been made in the above notification wherein it has been mentioned that now taxpayer shall self certify this Form GSTR 9C. Relevant extract is as under:

“(ii) after the table, for the portion beginning with “Verification:” and ending with “and balance sheet etc.”, the following shall be substituted, namely: –

“Verification of registered person:

I hereby solemnly affirm and declare that the information given herein above is true and correct and nothing has been concealed there from. I am uploading this self-certified reconciliation statement in FORM GSTR-9C. I am also uploading other statements, as applicable, including financial statement, profit and loss account and balance sheet, etc.”

 

Now, we will have to wait for the Forms to be made available with the above changes so that one could file the same in due time.

To download full notification CLICK HERE.

 

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