The Goods and Service Tax Network (GSTN) enabled the New functionality to discharge Goods and Service Tax(GST) liability with reference to ‘Reconciliation Statement’ i.e. GSTR-9C.
To avail this facility the taxpayers must login to the GST portal, then choose ‘Reconciliation Statement’ from the dropdown menu under the head ‘Cause of Payment’, then specify payment date and Financial Year.
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 of the CGST Act. They shall furnish a copy of the audited annual accounts and a reconciliation statement, duly certified, in form GSTR-9C.
GSTR-9C must be prepared and certified by a Chartered Accountant or Cost Accountant. It must be filed on the GST portal or through a facilitation center by the taxpayer, along with other documents such as the copy of the Audited Accounts and Annual Return in form GSTR-9. This statement is applicable to all those taxpayers who must get their Annual Accounts audited under the GST laws.
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