CBIC Enables Return GSTR-9C Offline Utility for FY 2019-20

CBIC Enables Return GSTR-9C Offline Utility for FY 2019-20

GSTR-9C Offline Utility for Financial Year 2019-20 is finally available on GST Portal. This is an excel based utility specifically designed for Filing of GST Audit Form [GSTR-9C].

GSTR-9C form is Prescribed in terms of Section 35(5) read with section 44 CGST Act and Rule 80(3). The Form involves reconciliation, GST audit, and certification.

This Form is divided into 2 parts:

• Part A is the Reconciliation Statement.
• Part B is Certification by the professional.

Financials are also required to be annexed along with the Statement.

GSTR9 is required to be filled before the GSTR9C. These returns can only be filed once for a financial year. There is no option to revise this return once filed.

Due Date of Filing GSTR-9 [GST Annual Return] & GSTR-9C [GST Audit] for FY 2019-20 is 28th Feb 2020.

Optional GSTR-9 Filing

Please note that it is optional for registered taxpayers having aggregate Turnover up to Rs. 2 Cr. to file GSTR-9. Also note that it is optional for registered taxpayers having aggregate Turnover up to Rs. 5 Cr. to file GSTR-9C or GST Audit.

Consequences of failure to submit the annual return and not getting the accounts audited are:

1. Notice to defaulters

A notice shall be issued to defaulter requiring him to furnish such return within fifteen days in such form and manner as may be prescribed.

2. Late Fee for delayed filing

Late fee of Rs. 100/- per day for delay in furnishing annual return in Form GSTR 9, subject to a maximum amount of quarter percent (0.25%) of the turnover in the State or Union Territory shall be imposed. Similar provisions for levy of late fee exist under the State / Union Territory GST Act, 2017.

Therefore it can be concluded that a late fee of Rs.200/- per day (Rs. 100 under CGST law +Rs. 100/- under State / Union Territory GST law) could be levied which would be capped to a maximum amount of half percent (0.25% under the CGST Law + 0.25% under the SGST / UTGST Law) of turnover in the State or Union Territory.

3. General Penalty for Contravention of Provisions

A General Penalty may extend to twenty-five thousand rupees has been provided under CGST Act. An equal amount of penalty under the SGST/UTGST Act would also be applicable. To sum up a penalty of up to Rs. 50,000/- (25000 under CGST Act + 25000 under SGST Act) could be levied.

Tags: GST

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