GSTR-9C (Reconciliation Statement) Limit for FY 2018-19, GST Audit limit for FY 2018-19

As recommended by 39th GST Council held on 14th March 2020 at New Delhi, CBIC issued Notification No. 16/2020- Central Tax dated 23rd March 2020 which says :

Those taxpayers having aggregate turnover more than Rs. 5 crore are required to file GSTR-9C for FY 2018-19 (only).

GST काउंसिल की  39वीं मीटींग में यह सुझाव दिया गया कि वित्त वर्ष 2018-19 के लिये GSTR-9C (GST Audit) की Limit को Rs. 5 करोड़ कर दिया जाये I

इस सुझाव को ध्यान में रखते हुये CBIC ने Notification नंबर 16/2020,  दिनांक 16 मार्च 2020 को जारी करके वित्त वर्ष 2018-19 के लिये  GSTR-9C का Limit रु 5 करोड़ कर दिया I

मतलब की वैसे taxpayers जिनका FY 2018-19 में Aggregate turnover रु 5 करोड़ से ज्यादा है, उन्हें FY 2018-19 का GSTR-9C फ़ाइल करना है,

जिन TAXPAYERS का FY 2018-19 में Aggregate turnover रु 5 करोड़ या इससे कम है, उन्हें FY 2018-19 का GSTR-9C फ़ाइल नहीं करना है I

Note : This is applicable for only FY 2018-19.

Extracts from Press Release : Press Release 39th GST Council Meeting dated 14th March 2020 

39th Meeting of the GST Council, New Delhi
14 March, 2020
***
PRESS RELEASE
(Law and Procedure related changes)
The GST Council, in its 39th meeting held on 14.03.2020, has made the following recommendations:

i. 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;

Extracts from Notification No. 16/2020 : notfctn-16-central-tax-english-2020 GSTR-9C 5crLimit

Government of India
Ministry of Finance
(Department of Revenue)
Central Board of Indirect Taxes and Customs
Notification No. 16/2020 – Central Tax
New Delhi, 23rd March, 2020

6. In the said rules, in rule 80, in sub-clause (3), the following proviso shall be inserted, namely:-
“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.”.

Rule 80 of CGST Act :

Annual return : (1) Every registered person [other than those referred to in the proviso to sub-section (5) of section 35]126, other than an Input Service Distributor, a person paying tax under section 51 or section 52, a casual taxable person and a nonresident taxable person, shall furnish an annual return as specified under sub-section (1)
of section 44 electronically in FORM GSTR-9 through the common portal either directly or through a Facilitation Centre notified by the Commissioner:

Provided that a person paying tax under section-10 shall furnish the annual return in FORM GSTR-9A.

(2) Every electronic commerce operator required to collect tax at source under section 52 shall furnish annual statement referred to in sub-section (5) of the said section in FORM GSTR -9B.
(3) Every registered person whose aggregate turnover during a financial year exceeds two crore rupees shall get his accounts audited as specified under sub-section (5) of section 35 and he shall furnish a copy of audited annual accounts and a reconciliation statement, duly certified, in FORM GSTR-9C, electronically through the common portal either directly or through a Facilitation Centre notified by the Commissioner.

[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.]