Goods and Services Tax – GST – By: – Sandeep Rawat – Dated:- 16-11-2018 – With the implementation of Goods and Services Tax (GST) in India from July 1, 2017, there has been a paradigm shift in indirect taxation structure in India from origin-based tax to destination based tax. The professional have an opportunity as well as responsibility to assist the assessees in filing the statutory Form 9 and also in conducting the GST Audit. In this regard I have prepared the comparison of the GSTR 9 and GSTR 9C for the better and quick understanding. Comparative view of Form GSTR-9 and GSTR 9C Return in GSTR 9 Statement in GSTR 9C 1 GSTR 9 GSTR 9C 2 form prescribed in terms of section 44 CGST Act read with Rule 80 form prescribed in terms of Section
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d to be filed by viz., Casual Taxable Person, Non-Resident Taxable Person, Input Service Distributor, Unique Identification Number Holders, Online Information and Database Access Retrieval Service, Composition Dealers, persons required to deduct taxes under Section 51 and persons required to collect taxes under Section 52. Not required to be filed by viz., Casual Taxable Person, Non-Resident Taxable Person, Input Service Distributor, Unique Identification Number Holders, Online Information and Database Access Retrieval Service, registered person whose aggregate turnover in a financial year not exceeds ₹ 2 Crores.,Composition Dealers, persons required to deduct taxes under Section 51 and persons required to collect taxes under Section
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ember 2018. 15 This return can only be filed once for a financial year. There is no option to revise this return. 16 Late fees for not filing the return within the due date is ₹ 100 per day per act up to a maximum of an amount calculated at a quarter percent of the taxpayer turnover in the state or union territory. Thus it is ₹ 100 under CGST & 100 under SGST; the total penalty is ₹ 200 per day of default. There is no late fee on IGST. However, this fee cannot be more than 0.25% of total turnover in the respective state/union territory There is no specific penalty prescribed in the GST Law for not getting the accounts audited by a Chartered Accountant or a Cost Accountant. Therefore, in terms of Section 125 of CGST Act
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