Turnover limit for GSTR 9 and 9C for FY 2018-19
Dhruv Jain (Practicioner) (202 Points)
06 June 2020
what is the latest turnover limit for GSTR 9 and 9C for the FY 2018-19.
13 Replies
Shivam RC
(Student)
(23683 Points)
Replied 06 June 2020
TURNOVER LIMIT for GSTR-9 and GSTR-9C for FY 2018-19 :
1). Annual Return ( GSTR-9 ) : Above Rs. 2 crores.
2). Reconciliation Statement and Audit Report ( GSTR-9C ) : Above Rs. 5 crores.
LEGAL BACKGROUND :
1). As per Notification No. 47/2019 - Central Tax, dated 09th October 2019 read with Circular No. 124/43/2019 - GST, dated 18th November 2018, "Filing of Annual Return ( GSTR-9 ) for FY 2017-18 and FY 2018-19 has been made OPTIONAL for those Taxpayers having Aggregate Turnover upto Rs. 2 crores."
Therefore if your Aggregate Turnover is upto Rs. 2 crores, it is "OPTIONAL" to file GSTR-9 for FY 2018-19. Note that the Annual Return shall be "DEEMED TO BE FURNISHED ON THE DUE DATE" if it has not been furnished before the due date of the respective FY.
2). As per Notification No. 16/2020 - Central Tax, dated 23rd March 2020, the CGST Rules 2017 was amended inorder to increase the Turnover limit of filing FORM GSTR-9C. A new PROVISO has been inserted to Rule 80(3) of the CGST Rules 2017, which states that "Filing of FORM GSTR-9C for FY 2018-19 will be mandatory only for those taxpayers whose Aggregate Turnover EXCEEDS Rs. 5 crores. "
Therefore, Audit Report ( GSTR-9C ) for FY 2018-19 is mandatory to only those Taxpayers whose Turnover exceeds Rs. 5 crore. ( Note that the previous Threshold limit was Rs. 2 crores ).
Warm Regards,
Shivam RC.
1). Annual Return ( GSTR-9 ) : Above Rs. 2 crores.
2). Reconciliation Statement and Audit Report ( GSTR-9C ) : Above Rs. 5 crores.
LEGAL BACKGROUND :
1). As per Notification No. 47/2019 - Central Tax, dated 09th October 2019 read with Circular No. 124/43/2019 - GST, dated 18th November 2018, "Filing of Annual Return ( GSTR-9 ) for FY 2017-18 and FY 2018-19 has been made OPTIONAL for those Taxpayers having Aggregate Turnover upto Rs. 2 crores."
Therefore if your Aggregate Turnover is upto Rs. 2 crores, it is "OPTIONAL" to file GSTR-9 for FY 2018-19. Note that the Annual Return shall be "DEEMED TO BE FURNISHED ON THE DUE DATE" if it has not been furnished before the due date of the respective FY.
2). As per Notification No. 16/2020 - Central Tax, dated 23rd March 2020, the CGST Rules 2017 was amended inorder to increase the Turnover limit of filing FORM GSTR-9C. A new PROVISO has been inserted to Rule 80(3) of the CGST Rules 2017, which states that "Filing of FORM GSTR-9C for FY 2018-19 will be mandatory only for those taxpayers whose Aggregate Turnover EXCEEDS Rs. 5 crores. "
Therefore, Audit Report ( GSTR-9C ) for FY 2018-19 is mandatory to only those Taxpayers whose Turnover exceeds Rs. 5 crore. ( Note that the previous Threshold limit was Rs. 2 crores ).
Warm Regards,
Shivam RC.
GIRIDHAR
(ARTICLES)
(22 Points)
Replied 11 June 2020
Is 5 Cr limit applicable to all? or only for msme?
sakthi
(Business consultant )
(137 Points)
Replied 21 October 2020
Hi,
For GSTR - 9 reconciliation work, we have to compare our books of accounts with GSTR 1 (or) GSTR3B?
debora M
(BUSINESS DEVELOPMENT MANAGER)
(1697 Points)
Replied 21 October 2020
Audit under GST applies to those registered persons whose Annual aggregate turnover exceeds rupees two crores^ in that FY. ^The limit is enhanced to Rs 5 crore for the GSTR-9C of FY 2018-19 as per the CBIC notification dated 23rd March 2020.
CA. Heet Shah
(Tax Consultant & Practitioner)
(6180 Points)
Replied 21 October 2020
| Originally posted by : sakthi | ||
 |
Hi, For GSTR - 9 reconciliation work, we have to compare our books of accounts with GSTR 1 (or) GSTR3B? |
 |
Both gstr1 and 3b shall reconcile with books
CA. Heet Shah
(Tax Consultant & Practitioner)
(6180 Points)
Replied 21 October 2020
| Originally posted by : Heet Shah | ||
|
Originally posted by : sakthi Hi, For GSTR - 9 reconciliation work, we have to compare our books of accounts with GSTR 1 (or) GSTR3B? Both gstr1 and 3b shall reconcile with books |
|
Gstr9 fetches the data from GSTR 1 but if your books and 3b is reconciled you may disclosed the other figure in GSTR9
sakthi
(Business consultant )
(137 Points)
Replied 22 October 2020
Is there any possibility to extend GSTR 9 for the year 18-19?
Shivam RC
(Student)
(23683 Points)
Replied 10 November 2020
Filing of FORM GSTR-9C ( Reconciliation Statement and Audit Report ) for FY 2018-19 & FY 2019-20 is mandatory only for those taxpayers whose Aggregate Turnover "exceeds Rs. 5 crores." It needs to be filed electronically in the GST common portal.
Usually the limit is Rs. 2 crores as prescribed under Rule 80(3) of the CGST Rules 2017 but a new Proviso was inserted to Rule 80(3) of the CGST Rules 2017 vide Notification No. 16/2020 - Central Tax, dated 23rd March 2020, which increased the turnover limit of filing GSTR-9C for FY 2018-19 to Rs. 5 crores.
Recently due to the ongoing pandemic situation, the Government of India also extended the benefit of this increased turnover limit to FY 2019-20 as well vide Notification No. 79/2020 - Central Tax, dated 15th October 2020.
EXTRACT FROM THE CGST RULES 2017 :
“Provided that for the financial year 2018-2019 and 2019-2020, every registered person whose aggregate turnover exceeds five crore rupees shall get his accounts audited as specified under sub-section (5) of section 35 and he shall furnish a copy of audited annual accounts and a reconciliation statement, duly certified, in FORM GSTR-9C for the said financial year, electronically through the common portal either directly or through a Facilitation Centre notified by the Commissioner."
Usually the limit is Rs. 2 crores as prescribed under Rule 80(3) of the CGST Rules 2017 but a new Proviso was inserted to Rule 80(3) of the CGST Rules 2017 vide Notification No. 16/2020 - Central Tax, dated 23rd March 2020, which increased the turnover limit of filing GSTR-9C for FY 2018-19 to Rs. 5 crores.
Recently due to the ongoing pandemic situation, the Government of India also extended the benefit of this increased turnover limit to FY 2019-20 as well vide Notification No. 79/2020 - Central Tax, dated 15th October 2020.
EXTRACT FROM THE CGST RULES 2017 :
“Provided that for the financial year 2018-2019 and 2019-2020, every registered person whose aggregate turnover exceeds five crore rupees shall get his accounts audited as specified under sub-section (5) of section 35 and he shall furnish a copy of audited annual accounts and a reconciliation statement, duly certified, in FORM GSTR-9C for the said financial year, electronically through the common portal either directly or through a Facilitation Centre notified by the Commissioner."
Neethi V. Kannanth
(.)
(19020 Points)
Replied 18 January 2021
What is the difference between GSTR 9 and GSTR 9C? Who are required to file them?
Bhavika Kothari
(CA)
(1258 Points)
Replied 22 January 2021
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