Ludhiana: In a big assistance for thousands of GST assessors who have an annual turnover of more than Rs 5 Crore, they can now send a form of GSTR-9C self-certification (reconciliation statement) instead of getting it certified from a rented accountant.
This will not only save big money paypayers, but also reduce the time taken for the submission of the statement.
New changes have been notified by the Ministry of Finance and in continuation with recent liberation given to taxpayers with turnover up to RS 2 Crore from any annual refund submission.
Meanwhile, city entrepreneurs, in general for changes, but demand that the center also pay attention to their demands of certified from Chartered accountants will benefit thousands of entrepreneurs and save great costs and time.
This will end the hassle of waiting for approval from a professional who is a time-consuming process.
We urge the center to also consider our requests for rollback from its decision to increase GST to 12% in the textile and garment sectors of 5%.
“The taxation tax NK Thamman said,” Taxpayers have a turnover of more than RS 5 Crore so far the financial year 2020-21 is needed to file annual returns (GSTR-9) and reconciliation statements in the form of GSTR-9C with audited financial statements.
Previously this reconciliation statement was needed to be certified from a rented accountant, but now from the financial year 2020-21, relaxation has been given.
Taxpayers can now ratify this reconciliation statement.
“Jaswinder Singh Thukral, the president of the Small Scale Manufacturer Association Janta Nagar, said,” We appreciate new changes, but we also ask the center to solve small issues delayed industries scale, including reducing the amount of return and introducing amnesty schemes for late and non-non- GST return archiving.
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