Businesses with turnover over Rs 2 cr can now begin submitting GST audit reviews for FY18

by Marie Rodriguez

Businesses with an annual turnover of over Rs 2 crore can now start submitting GST audit reports for monetary 2017-18 as GST Network (GSTN) has made its format available on its portal. The audit file for 2017-18, the prior year of the products and offerings tax (GST) implementation, will be filed via June 30. The ministry, on December 31, 2018, notified the once-a-year returns bureaucracy GSTR-9, GSTR-9A, and GSTR-9C. IN DECEMBER, the GST Council extended the ultimate date for submitting this paperwork by using three months to June 30. GSTN has now made to be had an offline application of GSTR-9C which may be filled up by the taxpayer and uploaded on the portal.

GSTR-nine is the once-a-year go-back shape for all taxpayers registered under GST; GSTR-9A is for composition taxpayers.

GSTR-9C is a reconciliation assertion, duly tested and signed by using a chartered accountant or a price accountant and required to be provided in conjunction with the filing of annual go back by the taxpayer whose turnover is above Rs 2 crore in the course of an economic yr.

EY Tax Partner Abhishek Jain said the enterprise became long-watching for the offline application and the mechanics of filing the GSTR-9C online.

“Clarifications like digital signature of auditor being required, balance sheet and earnings/loss account being attached, and so on, have to help organizations plan properly for executing this compliance,” Jain said.

Related Posts