Reconciliation is one of the crucial elements of the GST framework, which helps in ensuring that GST returns are in sync with the books of accounts. Form GSTR 9C has to be filed as a GSTR 9C reconciliation statement in Excel as per GST laws.
GSTR 9C is a statement that reconciles the figures filed in GSTR 9 Annual return vis-à-vis figures mentioned in audited annual financial statements. It has to be submitted by every registered person, who is required to get his accounts audited under the GST Act. GSTR 9C has to be filed electronically through the portal either directly or through a facilitation centre. Now, you understand how to reconcile GST annual returns.
Form GSTR 9C will be submitted on or before 31st December along with the GST Annual Return (GSTR 9) and the Audit Report. For FY 2018-19, the due date for file GSTR-9C is 31 December 2020.
A Chartered Accountant or A Cost Accountant will certify GSTR 9C. It is not necessary that the auditor, who has audited the books of accounts for GST purposes, should certify it.
GSTR 9C has to be filed for each GSTIN number separately. Some taxpayers may operate in several states and possess multiple GSTINs against one PAN number. Hence, they have to calculate the figures GSTIN-wise.
On the basis of un-reconciled differences reported in GSTR 9C, the authorities will conduct further enquiry and investigations by issuing show-cause notices to the defaulters, seeking clarifications from them.
GSTR 9C consists of two parts – Part A and Part B. Part A is the reconciliation statement, while PART B is the certificate.
Part A has been divided into 5 sub-parts –
Two different certificates have been prescribed in Part B:
In the certificate, the preparer will mention the observations/ qualifications related to Form GSTR 9C. He will also certify that the audit report and the audited annual financial statements are attached to the GSTR 9C reconciliation statement. In the end, he will mention the name, membership number and address.
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