GSTN Advisory on GST Reconciliation Statement GSTR-9C – Tax rate wise declaration
By GST Reconciliation process, through taxpayer discovers any discrepancy between his books of accounts and GST Returns and correct mismatches.
However, the requirement of GST audit/reconciliation statement has been abolished in the Budget 2021-22 and as per amended Section 35 and 44, only GSTR-9-annual returns on a self-certification basis needs to be filed.
Reconciliation statement to be filed in Form GSTR-9C requires the tax rate wise declaration of transactions for the concerned financial year.
In the GSTR-9C, the tax amount pertaining to different tax rates i.e. 1%, 1.5% and 7.5% in section III (table 9 and 11) and section V may be made in row/ under label ‘Others’ of the said tables, wherever applicable.
CBDT Guidelines for compulsory selection of return for compulsory scrutiny during FY 2024-25 CBDT Guidelines for compulsory selection of…
High Court quashed reopening of assessment on the incorrect presumption that no return of income had been filed Re-assessment order…
In absence of mala fide intention bank should not be treated as assessee in default for late deduction and deposit…
Whether bank account was fraudulently open in the name of assessee is question of fact. High Court declined to entertain…
SBI Concurrent Auditor Empanelment of Chartered Accountant Firms for FY 2024-25 SBI Concurrent Auditor Empanelment of CA Firms for FY…
Change in the constitution of Appellate Authority for CAs CSs and Cost Accountants In 2015, the Ministry of Corporate Affairs…