CBIC notifies the CGST (10th Amendment) Rules, 2018. New Form GSTR-9C (Reconciliation Statement with Form of GST Audit Report/ Certificate) has been inserted/ introduced.
It may be noted that Form GSTR 9C is used for Normal GST Audit/ Certification by a Chartered Accountant or a Cost Accountant, in view of requirements under the GST law, i.e. every registered person whose aggregate turnover during a financial year exceeds two crore rupees has to get his audit conducted and has to furnish a copy of audited annual accounts and a duly certified reconciliation statement in FORM GSTR-9C.
However, various stakeholders have demanded/ submitted proposals to enhance the threshold limit of GST Audit/ Certification from Rs. 2 Crores to Rs. 10 Crores for the sake of ‘ease of doing business’, which are under consideration/ review of the GST Council.
CBIC Central Tax Notification 49/2018 dt. 13/09/2018: CGST (10th Amendment) Rules, 2018