1. The Central Board of Indirect Taxes and Customs (CBIC) have issued an advisory on Error while uploading Balance Sheet and Profit & Loss Statement while filing GSTR-9C.
2. The CBIC has said that the Balance sheet and Profit & loss statement/income & Expenditure Statement keywords used in office network firewall/content security filter firewall to deny upload of such files/content as these contain sensitive information.
3. The CBIC also said that, If this will be used on an open network all such mentioned documents can be uploaded successfully.
4. GSTR 9 is an annual return to be filed yearly by taxpayers registered under GST. It consists of details regarding the outward and inward supplies made/received during the relevant previous year under different tax heads i.e. CGST, SGST & IGST and HSN codes. It is a consolidation of all the monthly/quarterly returns (GSTR-1, GSTR-2A, GSTR-3B) filed in that year. Though complex, this return helps in extensive reconciliation of data for 100% transparent disclosures.
5. Due Date for furnishing GST Annual Return and Reconciliation Statement (GSTR-9 / 9A and GSTR-9C) for FY 2017-18 to January 31st, 2020.
6. The late fees for not filing the GSTR 9 within the due date are Rs 100 per day, per act. That means late fees of Rs 100 under CGST & Rs 100 under SGST will be applicable in case of delay. Thus, the total liability is Rs 200 per day of default. This is subject to a maximum of 0.25% of the taxpayer’s turnover in the relevant state or union territory. However, there is no late fee on IGST yet.
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