GSTR-9C Optional Vs Compulsory Tables for in FY 2021-2022
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Overview GSTR 9C Optional Vs Compulsory tables For in Financial Year 2021-22
- This Post a List of firm or corporate in Form GSTR-9C (Reconciliation Statement under the Goods and services Tax) that were compulsory or optional in Financial Year 2021-2022.
- For Financial Year 2017-2018, 2018-2019, 2019-2020, & Financial Year 2020-21 the GST Registered person shall have the option to fill Table 4B to Table 4E net of Credit Notes (Table 4I), debit notes (Table 4J), and Amendments (4K & 4L) in case there is any difficulty in reporting such details separately in this Table.
Summarized in below Table:
By comparing Data supplied in GSTR 9/9C & GSTR 3B, the govt has started sending out notices & issuing information requests.
- Along with this, this post is objective to clarify the filing of annual returns (Form GSTR 9) & reconciliation statements (Form GSTR 9C), as well as necessary reconciliations, best – practice, advanced issues & solutions, & tips as applicable for financial year (FY) 2021–22, taking into consideration the various changes to the GST law in recent times.
These Tables have been made compulsory for Financial Year 2021-22.
Annual Goods and services Tax return GSTR-9C can only be submitted after the filling of GSTR-9 is filed. all the GST taxpayers who have not yet paid GSTR Tax liability or have unclaimed Input tax credit pertaining for Financial Year 2021-22, Those still have option to amend or correct their claim Input tax credit & supplies by 30th Nov, 2022. (GST Notification No. 18/2022)
GST Reconciliation status of Gross GST Turnover
Reconciliation status of Taxable GST Turnover
GSTR Reconciliation status of Net ITC (Input Tax Credit)
Due date of annual return filling
- The due deadline has been Annual GSTR extended in the earlier periods, But this extension should not be expected this time, Due date will be in financial year 2021–22 i.e Due date: December 31, 2022.
Conclusion
The process of submitting Form GSTR 9 & 9C is now more essential because it is expected to include the final values (along with any required corrections of ITC and values of supplies ) for a Financial Year. This paper is also being examined by the GST Dept. Establishing procedures to ensure correct data gathering in GST return & GSTR Reporting is therefore crucial.
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