The much awaited utility for GSTR9C and GSTR9C new form  – The audit and reconciliation statement for FY 2017-18 has been updated in Gst Portal.

GST Council it its recent meeting also extended the due date for filing GSTR9 and GSTR9C for FY 17-18 from 31.12.2019 to 31.01.2020.

Read Also : GST COUNCIL BIG DECISIONS

CBIC in Notification has made various simplification if Forms GSTR 9 and GSTR9C by making various fields optional for taxpayers .

Some of the fields in GSTR9C new form were also made simple along with change in Certificates by substituting new words.

In GSTR9C new form for FY 17-18 and 18-19 , Table no 5 for Reconciliation of Gross Turnover all the adjustments may be now done in Table 5O instead of giving breakup in Table 5B to 5N.

In GSTR9C for FY 17-18 and 18-19 , Columns of Table 12 regarding Reconciliation of Itc was made optional. 

Table 12B , ITC booked in earlier FY claimed in Current FY was made optional.

Table 12C , ITC booked in Current FY claimed in subsequent FY was made optional.

The most important Table 14 which required breakup of expenses on which ITC is claimed and declared in GSTR9 was also made optional .

In the certificates the requirement of Cash Flow Statement is now required only for those who have maintained it as per the existing law. It is made optional for persons who have not prepared cash flow statement to upload it int he portal .

The Auditor may give a True and Fair view on the basis of audit subject to certain observation . Earlier True and Correct view was required which increases the liability of auditor.

In Form GSTR9 , the change which was done is the columns has been made optional and no new format is required for the same. Only the filing process will change . If amount if not available for certain column then that column may be left and figures can be inserted in other columns as per the notification.

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GST COUNCIL MEETING AGENDA 

GSTR9 AND GSTR9C DATE EXTENSION

The GST Council to take big decisions regarding date extension for filing GST Annual return in Form GSTR 9 and GST Audit reconciliation statement in Form GSTR- 9C for FY 2017-18.The filing for annual and reconciliation statement is due on 31^st December 2019.

CBIC has recently simplified the forms for GSTR9 and GSTR9C but the simplified forms are not available till date. As per GST Portal, the expected date for releasing the new and simplified forms is 21^st December 2019. Keeping this it is highly expected that the council may take decision on extension of the filing for extra month till 31.01.2020.

GST WAYBILL RULES TWEAKING 

The GST Council meeting is also expected to extend the blocking rule of waybill for non-filing of GSTR1. Presently, only the returns in GSTR3B is taken into consideration for blocking of waybill. If the returns in GSTR3B for two consecutive tax periods has not been filed then gst portal blocks such GSTIN for generating waybill. Now, to improve the compliance and ensure filing of GSTR1 , it may be decided to extend the blocking for GSTR1 also.

If GSTR1 or GSTR3B for two consecutive were not filed the ewaybill facility will be blocked for such GST numbers.

GST CREDIT BLOCKING 

The GST Council is also expected to take a call regarding, blocking of Input Tax Credit by the Tax Official. This decision may be taken on the backdrop of fake claims of Input Tax credit in GST on the basis of fake invoices. Already 25 states are using this method to plug the claims of Input Tax Credit on the basis of invoices that are not valid.

It may also be decided that all the past claims which are not valid may be reversed in the Electronic credit ledger in GST Portal . The reversal of Itc has to be done along with interest @ 24% as per the provisions of Section 50 of CGST Act .

GST CREDIT TO BE CAPPED @ 10%

Another big change on the agenda of GST Council ahead of crucial meeting on 18.12.2019 is regarding the capping of Input Tax Credit on invoices that has not been uploaded by the supplier.

Recently, CGST Rules were amended to insert new provisions in Rule36 (4) , which says that the input tax credit in respect of invoices not uploaded will be capped at a maximum of 20% of invoices that has been uploaded. To understand this rule you may read this article also.

Now the decision may be taken to reduce the percent of 20% to 10% of valid and eligible invoices for which credit will be allowed in respect of invoices not uploaded.

GST RETURN DUE DATE EXTENSION 

GST council meeting scheduled to held tomorrow may also extend the due date for filing GST Returns in form GSTR3B , GSTR1 , GSTR7 ,. GSTTR8 for North Eastern states due to disturbances in these areas after passing of Citizenship Amendment Act. The due date for filing GSTR3B for November 2019 may be extended from 20.12.2019 to 31.12.2019.

For filing GSTR1 monthly for November 2019, due date may be extended from 11.12.2019 to 31.12.2019

For filing GSTR7 and GSTR8 for November 2019 ,  due date may be extended from 10.12.2019 to 25.12.2019.

GST AMENSTY SCHEME FOR NON FILIERS

GST council in a measure to give relief to tax payers and augment revenue, may allow filing of GSTR1 under GST amnesty scheme. Gstr1 may be allowed to file without any penalty from July 17 to November 2019 . This scheme will be applicable if all GSTR1 pending will be filed till 10.01.2020.

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