The Central Board of Indirect Taxes and Customs (CBIC) has exempted the foreign airlines from furnishing reconciliation statements under Form GSTR-9C.
The Department of Revenue under the Ministry of Finance has issued a notification on March 16, 2020, in the name of Director to the Government of India, Mr. Pramod Kumar who is empowered by Section 148 of the Central Goods and Services Tax Act (CGST), 2017.
The airlines are basically covered under the notification issued under Section 381 (1) of the Companies Act, 2013 as the foreign airlines are considered to be the class of registered persons who should follow the special procedure.
The subject matter of the notification pertained to the exemption granted to the foreign airlines from furnishing reconciliation statements under Form GSTR-9C. So instead of furnishing reconciliation statements, the foreign airlines are ought to submit a statement of receipts and payments for the financial year in respect of its Indian Business operations, which must be duly authenticated by a practicing Chartered Accountant (CA) in India or a firm or a Limited Liability Partnership of practicing Chartered Accountants in India is submitted for each Goods and Service Tax Identification Number (GSTIN) by the September 30 of the year succeeding the financial year.
Prior to this notification, the foreign airlines were bound to furnish reconciliation statements under Form GSTR-9C. However, even after the introduction of this notification by the Government of India, the foreign airlines have to furnish only the statement of receipts and payments for the financial year.
This notification proved to be a great relief to the foreign airlines as it did not have to go through the lengthy process of furnishing reconciliation statements under Form GSTR-9C.
For the purpose of the implementation of this notification, this must be published in the Official Gazette of India.
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