Businesses with turnover of more than Rs 2 crore can start filing GST audit reports for FY18

The audit report for 2017-18, the first year of the goods and services tax (GST) implementation, is to be filed by June 30.

Published: 15th April 2019 07:51 PM  |   Last Updated: 15th April 2019 07:51 PM   |  A+A-

Goods and Services Tax, GST, money, tax, representational

Representational Image. | File Photo

By PTI

NEW DELHI: Businesses with an annual turnover of over Rs 2 crore can now start filing GST audit reports for fiscal 2017-18 as GST Network (GSTN) has made its format available on its portal.

The audit report for 2017-18, the first year of the goods and services tax (GST) implementation, is to be filed by June 30. The ministry on December 31, 2018, notified the annual returns forms GSTR-9, GSTR-9A and GSTR-9C. The GST Council in December extended the last date for filing these forms by three months to June 30.

GSTN has now made available offline utility of GSTR-9C which can be filled up by taxpayer and uploaded on the portal. GSTR-9 is the annual return form for all taxpayers registered under GST, GSTR-9A is for composition taxpayers.

GSTR-9C is a reconciliation statement, duly verified and signed by a chartered accountant or a cost accountant, and required to be furnished along with filing of annual return by the taxpayer whose turnover is above Rs 2 crore during a financial year.

EY Tax Partner Abhishek Jain said the industry was long awaiting the offline utility and the mechanics of filing the GSTR-9C online. "Clarifications like digital signature of auditor being required, balance sheet and profit/loss account being attached, etc, should help businesses plan well for executing this compliance," Jain said.

AMRG & Associates Partner Rajat Mohan said timely availability of the utility for filing GST annual audit report is a great assistance to taxpayers, especially those having a multi-locational places of business. "Taxpayers have more than 75 days to file GST annual audit reports and in case they start early then there would be no need for any extensions on the last day," Mohan added.

Stay up to date on all the latest Business news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp