Changes made for relaxation to MSMEs from furnishing FORM GSTR-9C vide amendment in the CGST Rules

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On recommendations made in 39th GST Council Meeting held on March 14, 2020 amendment made for relaxation to MSMEs from furnishing of Reconciliation Statement in FORM GSTR-9C, for the financial year 2018-19, for taxpayers having aggregate turnover below Rs. 5 crores. The CBIC vide Notification No. 16/2020- Central Tax dated March 23, 2020 has amended Central Goods and Services Tax Rules, 2017 (“CGST Rules”) in following manner:

  1. Rule 80 of the CGST Rules- Filing of Reconciliation audited statement (GSTR-9C) by such Registered Person whose aggregate turnover during the financial year 2018-2019 exceeds five crore rupees

Proviso to Sub-rule (3) is inserted:

“Provided that every registered person whose aggregate turnover during the financial year 2018-2019 exceeds five crore rupees shall get his accounts audited as specified under subsection (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 financial year 2018- 2019, electronically through the common portal either directly or through a Facilitation Centre notified by the Commissioner.”

Read more at: http://www.cbic.gov.in/resources//htdocs-cbec/gst/notfctn-16-central-tax-english-2020.pdf

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