Comparative and Quick view of GSTR 9 and GSTR9C for better understanding
By: – Sandeep Rawat
Goods and Services Tax – GST
Dated:- 16-11-2018<\/p>\n
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.
\nIn this regard I have prepared the comparison of the GSTR 9 and GSTR 9C for the better and quick understanding.
\nComparative view of Form GSTR-9 and GSTR 9C
\nReturn in GSTR 9
\nStatement in GSTR 9C
\n1
\nGSTR 9
\nGSTR 9C
\n2
\nform presc<\/p>\n
= = = = = = = =<\/p>\n
Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n egistered person = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n or before 31st December of the subsequent financial year. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" Comparative and Quick view of GSTR 9 and GSTR9C for better understandingBy: – Sandeep RawatGoods and Services Tax – GSTDated:- 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. … Continue reading “Comparative and Quick view of GSTR 9 and GSTR9C for better understanding”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-15008","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/15008","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15008"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/15008\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15008"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15008"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15008"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
For full text:-Visit the Source <\/a><\/p>\n
\nDigitally signed by the GST auditor (CA\/CMA)
\n9
\nNo threshold
\nSubject to threshold
\n10
\nNot 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, Composition Dealers, persons required to deduct taxes under Section 51 and persons required to collect taxes under Section 52.
\nNot 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.,Comp<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n
\nFor instance, for FY 2017-18, the due date for filing GSTR 9 is 31st December 2018.
\n15
\nThis return can only be filed once for a financial year. There is no option to revise this return.
\n16
\nLate 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.
\nHowever, this fee cannot be more than 0.25% of total turnover in the respective state\/union territory
\nThere is no specific penalty prescribed in the GST La<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n