Chartered accountant Kirti Joshi, former chairman of the Indore Branch of The Institute of Chartered Accountants (ICAI) held, there would be a total of 19 tables in GSTR-9 that would be essential to opt for the proper care during filing.
For the case in which the turnover of the dealer would exceed Rs 5 cr, he would be required to furnish the other reconciliation statement GSTR-9C and filing the same the dealer shall need to match the turnover of his audited balance sheet with the GST turnover.
When under any statute the trader has been audited then in that condition the same shall be effective to obtain his books audited, file 9C. Joshi speeches in a seminar conducted on the GST yearly return form GSTR-9 and GSTR-9C. CA Indore Branch has conducted the seminar.
31st December is the due date to file the GST yearly return for the fiscal year 2021-22 said Ankit Somani. The traders are required to file their returns on a mandatory basis who have an aggregate turnover exceeding Rs 2 cr. When any trader was needed to furnish the yearly return but does not file his GST return within the stipulated time.
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When any trader was needed to furnish the yearly return however the same does not have been furnishing his return as per the mentioned time, a late fee i.e Rs 200 would be obligated to be paid, which will have to be paid up to 0.5% of the maximum turnover.
The assessee securing a turnover of lower than Rs 2 cr however does not make any mistake in furnishing the GST returns for the year 2021-22 the kind of ITC left to opt for or lower tax is being paid, the same must furnish their yearly return. The council shall hand over the notice to them in the subsequent times and shall suffer the penalty without proper elaboration.
Krishna Garg specified that the concern in furnishing the GST return would be that majority of the businesses misses something or the additional information is wrong during furnishing the monthly return.
At the current time, the summary of HSN would be compulsory for the first time in the GST yearly return. Hence the assesses suffered with issues in furnishing the same and would be difficult to provide the HSN summary of the GST for the small assessees and the traders who are engaged in trade with distinct items.
For instance during furnishing the HSN for the auto parts or the grocery business the same must be seen that you are providing your quantity status to the GST council.
Arpit Mundra mentioned, in the normal term we do not obtain the bank charges invoices via bank however there would be a special rule for the bank to provide the invoice which could provide the monthly invoice or the statement when you secure with the same monthly bank statement you could obtain the credit on that Aadhaar.
