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.
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