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GST
Under GST, after the end of the financial year, it is required to file an annual return and needs to get accounts audited in form GSTR 9 and 9C respectively. It is not mandatory for all the assessee but needs to be done as per the notification or circulars issued by the GST department.
As per the 43rd GST Council meeting outcome, GSTR-9 shall continue to be optional for taxpayers with turnover up to Rs.2 crore, whereas GSTR-9C can be self-certified by taxpayers with turnover less than or equal to Rs.5 crore from FY 2020-21 onwards.
Under GST, an annual return needs to be submitted for each financial year in GSTR 9 form, according to the turnover of the taxpayers.
This is the first time in nine months that monthly GST collection amount has slipped below the Rs 1 lakh crore mark
The late fee for not filing the GSTR 9 within the due date is Rs. 100 per day per Act. It means that the late fee under the CGST Act is Rs. 100 per day and the late fee under SGST Act is Rs. 100 per day.
As per the 43rd GST Council meeting outcome, GSTR-9 shall continue to be optional for taxpayers with turnover up to Rs.2 crore, whereas GSTR-9C can be self-certified by taxpayers with turnover less than or equal to Rs.5 crore from FY 2020-21 onwards.
As per the 43rd GST Council meeting outcome, GSTR-9 shall continue to be optional for taxpayers with turnover up to Rs.2 crore, whereas GSTR-9C can be self-certified by taxpayers with turnover less than or equal to Rs.5 crore from FY 2020-21 onwards.
After a gap of 7 months, the 43rd GST council meeting was held on 28th May 2021. The meeting was chaired by Finance Minister Smt. Nirmala Sitharaman, Union Minister of State For Finance and Corporate Affairs Shri Anurag Thakur was …