FORM GSTR-9C: Reconciliation Statement & Certification


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GSTR-9C (Reconciliation Statement & Certification):-

In this article we discuss about the Form GSTR-9C which consist of Reconciliation statement & Certification.

Who is required to be filled Form GSTR-9C ?

  • GSTR-9C is a reconciliation statement which is required to be filled by a registered person whose aggregate turnover during the financial year more than of Rs. 2 Crore.
  • GSRT-9C is to be prepared and certified by CA/CMA.
  • It is to be filled along with annual return (Form GSTR-9).
  • Form GSTR-9 or GSTR-9C cannot amend or revise once these are filled.
  • Offline utility is used for filling of Form GSTR-9C. Offline utility can be download from the website named as www.gst.gov.in .

Meaning of Form GSTR-9 & GSTR-9C ?

As per section 44 of CGST Act 2017,

Every registered person, other than an Input Service Distributor, a person paying tax u/s 51 or u/s 52, a casual taxable person and a non-resident taxable person, shall furnish an annual return for every financial year electronically in such form and manner as may be prescribed on or before the 31st December following the end of such financial year.

Summary:-

Form GSTR-9 (Annual Return):-

  • It is required to be filled every registered person except the following
  • ISD (Input Service Distributor)
  • Person deducting tax at source (TCS) u/s 51 or 52.
  • Casual taxable person
  • Non Resident Taxable person

Every registered person who is required to get his accounts audited in accordance with the provision of sub-section (5) of section 35 shall furnish, electronically, the annual return under sub-section (1) along with a copy of audited annual accounts and a reconciliation statement, reconciling the value of supplies declared in the return furnished for the financial year with the audited annual financial statement, and such other particulars as may be prescribed.

Summary:-

Form GSTR-9C (Reconciliation Statement):-

  • It is required to be filled every registered person whose aggregate turnover during the financial year exceeding of Rs. 2 Crore.
  • Following documents is required to be attached in Form GSTR-9C
  • Copy of Audited financial statement.
  • Reconciliation Statement.
  • Any other documents as may prescribed.

Due date of filling of Form GSTR-9C:-

The due date of GSTR-9 and GSTR-9C is the same. So, the due date filling of both form is 31st December of the next financial year.  Hence for the Financial year 2018-19, the due date would be 31st December 2019.

Parts of Form GSTR-9C

Form GSTR-9C is divided into Two parts:-

  • Reconciliation Statement
  • Certification

Part-A: Reconciliation Statement

In this part basically reconcile the figure which is filled in annual return in the Form GSTR-9 and figure as presented in the audited financial statement.

Reconciliation Statement is divided further into 5 sub-parts.

  1. Basic Details:-In this part include like GSTIN, F.Y., Legal Name, Trade Name (if any), Name of the Act, if you are liable to audit under any Act and Is the person making reconciliation statement is the same person who had conduct the audit mentioned GSTIN.
  2. Reconciliation of Turnover:-

In this part reconcile the Gross and Taxable turnover declared in audited Annual Financial Statement with turnover declared in Annual Return (GSTR-9). If find these figure are not matched then CA/CMA record the reason for Un-Reconciliation difference in Annual Gross Turnover and Taxable Turnover.

  1. Reconciliation of Tax Paid:-

In this part consist of reconciliation of rate wise tax liability and amount payable calculated in audited financial statement and GSTR-9 annual return. If any liability arise then it must be reported in Form GSTR-9C.

  1. Reconciliation of Input Tax Credit:-

This part consist the reconciliation of the input tax credit availed and utilised in annual audited financial statement and GSTR-9 annual return. If any difference is found that must be reported in GSTR-9 along with reason thereof.

  1. Auditor Recommendation on additional liability due to un-reconciliation :-

In this part an Auditor must report the additional tax liability identified during reconciliation.

Part-B: Certification

  • Reconciliation statement in Form GSTR-9C can be certified by an CA/CMA.
  • Reconciliation statement can be verified by same CA/CMA who conduct the GST audit or it can be certified another CA/CMA who not conduct the GST Audit.

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