GST Clarification- GSTR-9 and GSTR-9C
Introduction : Recently government through news and updates, clarified some of the points relating to GSTR-9 and GSTR-9C. The said point has been covered in this article.
Before moving further, importantly it shall be noted due date for furnishing GSTR-9 and GSTR-9C for financial year 2019-20 has been extended to 31st March, 2021.
Every assessee whose turnover is exceeding Rs. 2 crores are required to furnish GSTR-9 and every assessee whose turnover is exceeding Rs. 5 crores are required to furnish reconciliation statement in GSTR-9C.
Earlier it has already been stated that in GSTR-9 assessee will be required to give segregation of credit relating to Capital Goods and Credit relating to Inputs/Input Service. Assessee will have option to further segregate credit relating to Inputs and Input Service or he may show total of such under Credits relating to Inputs.
Through News and Updates section on GST Portal, government has provided relaxation to assessee by clarifying that while declaring rate wise liability tax amount relating to tax rate of 1%/1.5% and 7.5% may be clubbed together under the that row “others”.
Also, it has been seen that entity is facing issues which uploading GSTR-9 offline utility, i.e., JSON file. It has been advised to assessee that while furnishing GSTR-9 through offline utility entity shall report value only up to two decimals instead of three decimal if value is declared up to three decimals it will show the error while uploading.
It shall be noted that, it is advised to all the assessee to furnish GSTR-9 and GSTR-9C within the time limit prescribed above. As failure in late filling will result in late fees and follows:
|Particulars||Late Fees Applicable|
|GSTR-9||Rs.200/- per day during which the default continues (Rs. 100 under CGST law + Rs. 100/- under State / Union Territory GST law). Maximum amount for which penalty can be levied is 0.5% of turnover in State/ Union Territory|
|GSTR-9C||There is no specific provision for late fees, therefore a general penalty of Rs. 25,000/- can be levied|