Payment Failure - GST Library by TaxReply.com
Home      Free WhatsApp Updates      Have a Query?      Other Services      Vacancy for Article
Login | Register    

Tax Audit due date extension AY 2019-20

    

GST Council 37th Meeting Update

    

Corporate tax rates slashed to 22% for domestic companies and 15% for new domestic manufacturing companies and other fiscal reliefs

    

Fake Input and refund of IGST on exports - crackdown by DGGI and DRI

    

GST Council may Scrap GSTR-9 and GSTR-9C for FY 17-18 for small taxpayers upto 5 crore turnover

    

Changes in 36th GST Council Meeting held on 27th July 2019

    

CMP-08 due date for quarter April 2019 to June 2019 extended till 31st July 2019

    

Press Release restricting the last date for availing ITC for FY 2017-18 is illegal : Gujarat High Court

    

Budget 2019 Highlights - 05 July 2019

    

Transfer of GST amount from one head to other head (Form GST PMT - 09)

    

DGGST arrests one person for availing and passing fake ITC of Rs.16 Crore.

    

Notification issued to extend the date of blocking and unblocking on e-way bill facility to 21.08.2019.

    

Press Release of 35th GST Council Meeting held on 21st June 2019

    

Issues reported in filing Form GSTR 9C by the taxpayers : Advisory by Team GSTN

    

Issues reported in filing Form GSTR 9 by the taxpayers: Advisory by Team GSTN

    

New GST Return Transition Phase applicable from Oct 2019

    

Latest amendments in GST enacted on 07.03.2019

    

Recommendations of the 33rd GST Council meeting held on 24.02.2019

    

GSTR-3B due date for January 2019 has been extended upto 22.02.2019

    

New GST Input-Output Set off Rules w.e.f. 01.02.2019

     View all
View all
Home       Login    Pay
TaxReply.com - Free Tax updates for All
GST Library TM
About GST Library
GST Library Pricing
Free Trial
Full Site Search
GST Act / Rules
GST Act / Rules - Latest Amendments
GST Amendment Statistics
GST Notifications / Circulars Press Releases +
National Anti-Profiteering Authority
GST Case Laws
↳ GST AAR Orders
↳ GST AAAR Orders
↳ GST NAA Orders
GST Forms   
E-way Bill
↳ E-way Bill Notificaitons
↳ E-way Bill News
↳ E-way Bill Rules
↳ E-way Bill FAQ
GST Rates for goods and services
GST Set-off Calculator
GST News / Articles
Finance Bill

ICAI recently proposed the most awaited GST Audit Forms format i.e. Form GSTR-9C and Form GSTR-9D to the Ministry of Finance vide its letter No. IDTC/Letter/2018-19/13 dated 29.05.2018. ICAI has also requested the Ministry to finalise and publish the Audit Report format at the earliest providing the taxpayers and professionals adequate time for understanding the same. The important aspect of proposed forms are that ICAI proposed two versions of Audit Forms. One is for the taxpayer having turnover upto 10 crores and other is for taxpayer having turnover 10 crores and above.

The letter reads as under :-

IDTC/Letter/2018-19/13
May 29, 2018

Sub: GST Audit Report and Statement of Particulars

Greetings!

In continuation to the letter no. IDTC/Letter/2018-19/09 dated 9th May, 2018, we are pleased to enclose the GST Audit Report (Form 9C) and Statement of Particulars (Form GSTR 9D) to be furnished alongwith the Report. These forms have been drafted keep in in mind the aspects of being simple, transparent, easy to comply, to bring awareness among the tax payers and at the same time protect the revenue for the Government. Further, we are submitting two versions of the Statement of Particulars, one is for the tax payer having turnover upto 10 crores; and other is for tax payer having turnover 10 crores and above.

The Institute has developed the aforesaid “GST Audit Formats” for the period ended on 31st March, 2018. We will provide a more comprehensive Form with additional compliances by the Assessee having turnover beyond Rs. 10 crores for the financial year 2018-19.

Sir, the draft Forms captures the information pertaining to the nature of transactions, turnovers and taxes which will provide the Government with an insight into the business practices adopted by the trade and industry, The said audit report read together with the annual return filed by the trade and industry should reflect a true and correct state of affairs of the business entities thus meeting the motto of ease of doing business and ease to comply with the GST provisions, It will not be out of place to mention, that several members of the profession have populated live data into these Forms and feedback has been received that Draft formats are not complex, considering the details that are required to be maintained / furnished under the GST Laws.

Considering this as first year of Audit, it is requested that the Audit Report may be finalised and published at the earliest providing the taxpayers and professionals adequate time for understanding the Audit Format and compliance of the same.

We would also like to inform your goodself that recently, ICAI has also drafted the Certificates to be issued by Professionals as well as the Annual Return Form 9/9A/9B for the Goods and Services Tax Network (GSTN).

We shall be glad to provide any further inputs as may be required and your office in case of any information may reach us at idtc@icai.in or 0120-3045954.

With warm regards,

Yours sincerely,
 



Download Complete Letter and Form GSTR-9C and GSTR-9D
ID: 393 | Date 04-06-2018 | Posted By:

CA Mohit Jain

Comments


PL. SEND ME PDF VERSION OF FORM 9C

Comment By: CMA Anil kumar jain | Date: 03-07-2018
for knowledge and follow-up

Comment By: jagdish gajjar | Date: 23-07-2018


Your Reply


767286