Exemption from Audited GSTR 9C (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 notifies exemption from submission of Annual GST Return (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. 01/08/20212. 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.

List of CBIC Central Tax Notifications issued on 30/07/2021
CBIC Central Tax Notification 31/2021 dt. 30/07/2021: CBIC notifies exemption 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.
CBIC Central Tax Notification 30/2021 dt. 30/07/2021: CBIC notifies the Central Goods and Services Tax (Sixth Amendment) Rules, 2021, applicable w.e.f. 01/08/2021, to substitute CGST Rule 80 (Annual Return), in line with amendments made in substituted Section 44 of the CGST Act, 2017. Amended CGST Rule 80 requires filing of 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. Also, Forms GSTR 9 and 9C have been amended.
CBIC Central Tax Notification 29/2021 dt. 30/07/2021: Govt. appoints 01/08/2021 as the 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. Basically Govt. has removed 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).

Leave a Reply