Exemption from Audited GSTR 9C from FY 2020-21: Annual GST Return on Self Certification basis

CBIC notifies omission of provisions u/s 35(5) of the CGST Act, 2017 relating to submission of audited annual reconciliation statement in Form GSTR 9C, i.e. now Annual GST Return can be submitted on a ‘self certification’ basis. Also, CBIC has amended CGST Rule 80, to notify exemption from submission of Annual GST Return in Form GSTR-9 (FY 2020-21) in the cases where the aggregate annual turnover of the registered person is upto Rs. 2 crores.

In this regard CBIC has issued 3 Notifications on 30/07/2021, which are applicable w.e.f. 01/08/2021. These Notifications have been issued in line with the amendments made vide Section 110 and 111 of the the Finance Act 2021, having effect of omission of section 35(5) and substitution of section 44, respectively, of the CGST Act, 2017.

It may be noted that the timeline for submission of Annual GST return for FY 2020-21 continues to be 31/12/2021.

CBIC Central Tax Notification 29/2021  dt. 30/07/2021: Govt. omits the requirement of submission of Audited Financial Statements and Audited GST Reconciliation Statement (Form GSTR 9C)

Now the taxpayers can submit Form GSTR 9C on self certification basis (unaudited), w.e.f. 01/08/2021. Accordingly, Govt. notifies 01/08/2021 as the appointed/ commencement date in respect of provisions of sections 110 and 111 of the Finance Act, 2021, i.e. omission of section 35(5) and substitution of section 44 of the CGST Act, 2017.

CBIC Central Tax Notification 30/2021  dt. 30/07/2021: CBIC notifies the CGST (6th Amendment) Rules, 2021, applicable w.e.f. 01/08/2021, to substitute CGST Rule 80 and to amend Forms GSTR 9 and 9C

CGST Rule 80 (Annual Return) has been substituted in line with amendments made in substituted Section 44 of the CGST Act, 2017, i.e. to amend the requirement of filing Annual Return in Form GSTR 9/ 9A/ 9B by 31st December following the end of relevant Financial Year, along with self-certified reconciliation statement in Form GSTR 9C.

CBIC Central Tax Notification 31/2021  dt. 30/07/2021: Annual Return Exemption for FY 2020-21 for taxpayers with turnover upto Rs 2 crores

CBIC notifies exemption, in terms of Section 44, from filing annual return for the financial year 2020-21 in the cases where the registered person has aggregate annual turnover of upto Rs. 2 crores in the said financial year, applicable w.e.f. 01/08/2021.