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regular-article-logo Thursday, 13 June 2024

Businesses can now self-certify GST annual returns, instead of CA audit

The Central Board of Indirect Taxes and Customs, through a notification, amended GST rules

PTI New Delhi Published 02.08.21, 01:11 AM
Representational image.

Representational image. Shutterstock

GST taxpayers with a turnover of over Rs 5 crore can now self-certify their annual return, instead of a mandatory audit certification by chartered accountants, the Central Board of Indirect Taxes and Customs said in a notification.

Under the Goods and Services Tax (GST), filing of annual return — GSTR-9/9A — for 2020-21 is mandatory for all registered businesses, barring those with an aggregate annual turnover of up to Rs 2 crore.

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Besides, taxpayers with a turnover of over Rs 5 crore have to submit a reconciliation statement in form GSTR-9C. This statement was required to be certified after an audit by a CA.

This will give compliance level relief to thousands of taxpayers, AMRG & Associates senior partner Rajat Mohan said.

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