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Form GSTR-9C is a reconciliation statement, duly verified and signed by Chartered Accountant/ Cost Accountant, and required to be furnished along with filing of annual return in Form GSTR-9 by the taxpayer whose turnover is above Rs.2 Crores during a financial year.
Chartered Accountant/Cost Accountant is supposed to use the GSTR-9C Offline utility to fill up details. Once GSTR-9C return is prepared using offline tool, it is to be uploaded on the GST portal by the taxpayer along with a copy of Balance Sheet, Income and Expenditure Account/ Profit and Loss Account and any other related document.
The taxpayer should file Form GSTR-9C after filing his/her annual return in Form GSTR-9. In case he/she has not filed Form GSTR-9, GST Portal won’t allow the taxpayer to file Form GSTR-9C.
The utility can be downloaded in excel format. Further, the Manual provides step by step process for filling the required details, downloading preview file, generating and uploading the JSON file and filing GSTR-9C on the Portal. The Manual also contains FAQs released with respect to the excel utility.
CBIC vide Notification No. 17/2019 - Central Tax dated 10 April 2019 extends due date for filing Form GSTR - 1 for the month of March 2019 till 13 April 2019
Further, the due date for filing GSTR - 7 for the month of March 2019 has been extended till 12 April 2019 vide Notification No. 18/2019 - Central Tax dated 10 April 2019 .
CBIC vide Notification No. 15/2019 – Central Tax dated 28 March 2019 extended the period for furnishing the declaration in FORM GST ITC-04 for the period July 2017 to March 2019 till the 30 June 2019
The GST Council, in its 34th Council Meeting held on 19 March 2019 provides clarity with respect to reduced GST Rates on new real estate projects which would be effective from 01 April 2019 as follows:
New GST return formats released and are now available on GSTN Portal under 'Downloads' section. These returns are expected to be applicable on pilot basis from 01 April 2019.
Separate rate of tax (3% CGST +3% SGST/UTGST) on intra state supplies of goods or services or both upto first 50 lakhs in any financial year has been notified vide Notification No. 2/2019-Central Tax (Rate)
The option shall be available subject to below conditions:
The Notification comes into effect from 01 April 2019
CBIC have issued various Notifications on 07 March 2019, giving effect to various recommendations made by the GST Council, which are enumerated herein-under:
CBIC vide circular no. 92/11/2019-GST dated 07th March 2019, has clarified various issued related to Sales Promotion Scheme under GST which is stated as under:
At the outset, CBIC vide Circular No. 76/50/2018-GST dated 31st December, 2018 clarified that the taxable value for the purposes of GST shall include the amount Tax Collected at Source (TCS) computed as per the provisions of the Income Tax Act, since the value to be paid by the recipient to the supplier is inclusive of the said TCS.
However, CBIC has re-examined the said matter and has consulted the CBDT seeking clarification on the same. CBDT has clarified that TCS is not a tax on goods but an interim levy on the possible income arising from the sale of goods.
In light of above clarification, CBIC vide Corrigendum to Circular No.76 /50/2018-GST dated 07 March 2019 has now clarified that TCS computed under Income Tax provisions should not be included in the taxable value for determining value of supply under GST and no tax shall be payable thereon on such amount, since the TCS is an interim levy not having character of tax.
CBIC has enabled the option of filing of LUT Application pertaining to next financial year i.e. FY 2019-20 on the GSTN Portal
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