GST UPDATE

Desk of CA. Praveen Sharma Series- 460 Annual Return 1?? Applicability turnover Rs. 2 crores for GSTR-9 Rs. 5 crores for GSTR-9C 2?? Due Dates 31-12-2023 for both 9/9C 3?? Late Fee Turnover up to Rs.5 crore filing GSTR-9 after due date attracts a late fee of Rs. 50 per day (i.e., 25 under each CGST and SGST Act) subject to max cap 0.04% of turnover in state/UT (i.e., 0.02% each under CGST and SGST Act). Rs.5 crore to Rs.20 crores= Rs. 100/day Above Rs.20 crores= Rs. 200/day 4?? Table 4 of GSTR-9 Table 4 - Amendments, credit notes and debit notes cannot be shown as net figures in B2B, B2C, etc. now. Table 4I to 4L to be disclosed separately from FY 21-22. 5?? Table 5D to Table 5F The RP shall report Non-GST supply (5F) separately and shall have an option to either separately report his supplies as exempted and nil rated supply or report consolidated information for these two heads in the ^exempted row only. 6?? Table 6B to Table 6E Option to either report the breakup of inputs and input services or report the entire remaining amount under the “inputs” row only. Table 6C & Table 6D Option to either report Table 6C and Table 6D separately or report the consolidated details of Table 6C and 6D in Table 6D only. Table 6E The RP shall report the breakup of input tax credit as capital goods and have an option to either report the breakup of the remaining amount as inputs and input services or report the entire remaining amount under the “inputs” row only. Read more: https://www.edatabook.com/c-detail/3888 Check Draft reply of GST Notice and Appeal format in our EdataBook Stay tuned and Save my number for any query +91-9871530610. CA. Praveen Sharma https://www.linkedin.com/in/capraveensh