In certain categories of taxpayers, GST audits are necessary to verify correct GST payments and refund claims.
Under the GST Act, all dealers are required to submit the GSTR 9C audit form.
The GSTR 9C is an annual audit form for dealers with turnovers over 5 crores.
Besides filling out the GSTR 9C audit form, the taxpayer will also need to complete a reconciliation statement and certification of the audit.
Section 35 of the CGST Act, 2017 requires all dealers with a turnover over 2 crores in a financial year to file audited annual accounts and a reconciliation statement on GSTR 9C.
In this article, you will find detailed information on the GST audit due date for FY 2021-22.
Let’s get started!
Additionally, GSTR 9C includes a reconciliation statement for reconciling turnover and input tax credits and other tax payments.
Filing of GSTR-9 for a financial year is till December 31st of the year.
Form GSTR-9 is not required for GST-registered taxpayers with an annual aggregate turnover up to Rs. 2 crores in FY 21-22.
In the financial year 2018-19, dealers whose turnover is less than Rs. 5 crores are required to file GSTR 9C form, reconciliation statement, and audit certification.
|Up to 2 Cr.||N/A|
|More than 2Cr. – 5 Cr.||Optional(Benefit Given)|
|More than 5Cr.||Filling is mandatory|
Due dates for different financial years are:
|Form Name||Return Annually||Updated Due Date|
|GSTR 9C||FY 2021-22||31st December 2022|
|GSTR 9C||FY 2020-21||31st December 2021 To 28th February 2022|
|GSTR 9C||FY 2019-20||31st December 2020 | All States & UTs|
|GSTR 9C (GST Audit Form)||FY FY 2018-19||31st December 2020 | Extended|
What is the due date for GST audit?
The following two decisions were taken and notified on 5th July 2022, as per the 47th GST Council meeting:
- For FY 2021-22, GSTR-4 filing is waived off from the late fee if filed on or before 28th July 2022 as against earlier extension of up to 30th June 2022.
GST Audit is the process of examination of records, returns and other documents maintained by a taxable person.
Is Gstr 9C due date extended?
Yes, GSTR 9C due date has extended.
|10th November||GSTR-7(Monthly)||October’22||Summary of Tax Deducted at Source (TDS) and deposited under GST laws|
|GSTR-8(Monthly)||October’22||Summary of Tax Collected at Source (TCS) and deposited by e-commerce operators under GST laws|
|11th November**||GSTR-1(Monthly)||October’22||Summary of outward supplies where turnover exceeds Rs.5 crore or have not chosen the QRMP scheme for the quarter of Oct-Dec’22|
|13th November||IFF (Optional)(Monthly)||October’22||Uploading of outward supplies affected during the first month of the quarter by quarterly return filers opting for the Invoice Furnishing Facility (IFF)# under the QRMP scheme|
|GSTR-5(Monthly)||October’22||Summary of outward taxable supplies and tax payable by a non-resident taxable person|
|GSTR-6(Monthly)||October’22||Details of ITC received and distributed by an ISD|
|20th November**||GSTR-5A(Monthly)||October’22||Summary of outward taxable supplies and tax payable by a person supplying OIDAR services|
|GSTR-3B(Monthly)||October’22||Summary of outward supplies, ITC claimed, and net tax payable for taxpayers with turnover more than Rs.5 crore in the previous FY or have not chosen the QRMP scheme for the quarter of Oct-Dec’22|
|25th November||PMT-06(Monthly)||October’22||Challan for depositing GST by taxpayers who have opted for the quarterly filing of GSTR-3B under the QRMP Scheme for Oct-Dec 2022|
|30th November**||Annual reconciliations and amendments/ITC claims||FY 2021-22||Refer note below|
When GSTR 9C is mandatory?
GSTR 9C is mandatory when taxpayers with a turnover exceeding Rs. 5 crore in the previous financial year are required to file Form GSTR-9C on a self-certification basis.
GST Audit purpose is to verify the correctness of turnover declared, taxes paid, refund claimed and input tax credit availed, and to assess the compliance with the provisions of GST.
What is limit for GST audit?
If registered taxpayer annual turnover is more than Rs. 2 crore in a FY, then you are required to get your accounts audited by a Chartered Accountant or Cost Accountant every year.
Taxpayers are required to self-assess their tax liability, pay taxes, and file returns under GST.
What are the types of GST audit?
The GST Audit can be of the different types as given below:
- Audit by CA/CMA
(If the threshold turnover is more than Rs. 2 crore)
- Audit by the Tax authorities-
- General Audit (Order by Commissioner)
- Special Audit by CA nominated by Commissioner (Order by Deputy/Assistant Commissioner)
FAQ: GST audit due date for FY 2021-22
Is GST audit compulsory?
Yes, GST Audit is compulsory.
What if GST audit is not done?
If a GST audit is not conducted, there is no specific provision for what to do. However it will subject to a general penalty of Rs. 25,000.
The minimum penalty for taxpayers who fail to get their tax audits done is 0.5% of their total sales, turnover, or gross receipts.
Does FY 20-21 require GST audit?
Yes, requirement for GST audit by CA/CMA stands removed for FY 2020-21 and any later financial years.
Applicants must submit a self-certified reconciliation statement by reconciling the audited financial statements with their annual returns.
We hope this article about GST audit due date for fy 2021-22 resolves all your queries. If you have still any doubts, feel free to reach out to our expert team.