GST-9C-precautions/Tips
1. No. of characters should not exceed 99 in Part A or Part B
2. Membership number shouldn’t have any prefix as zero. say if its 5 digits, only 5 digits should be reported.
3. As and when entries are done in each sheet of 9C utility please keep saving it and maintain all workings of such data.
4. 9C utility should be kept in separate folder for each client. 5. print out of Annual Returns should be kept handy for inserting appropriate details in 9C.
6. wherever there is a deviation then reasons should be reported.
7. keep scanned copies of balance sheet , profit and loss , auditors report and/or cash flow page as applicable- file size can be maximum 5 MB
8. maximum two files can be submitted for each upload documentation options
9. disable all other emsigners on system other than GSTN portal emsigner
10. In Part A or Part B signing date of audit report needs to be indicated for FY 1718
11. after all the 16 sheets are properly validated come to first sheet and generate preview file in PDF and verify all the details
12. if all details are correct proceed on generating json file . once file is generated it would indicate the option to initiate signing - click the same
13. After clicking sign such file using DSC as applicable and save the same in the specific folder created
14 all balance sheet, profit loss, cash flow, auditors report should be saved in the same specific folder in PDF or jpeg .
15. Log in to GSTN portal select annual returns box on dash board thereafter select initiate gstr 9C and then upload signed json file along with all financial statements and then sign it
16. If any liability is to be payable through 9C then pay through DRC 03 by selecting Reconciliation statements and such liability should be paid in cash only
17. please note that one needs to have back up workings for each sheets handy
18. Only addition to this keep the files on the PC or laptop and not server
19. Check that figures are taken to fractions perfection from GSTR 9 In columns where figures derived from 9
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Finance Minister announced that there will be a change in the rule and the rate of TDS on the maturity amount, where the premium amount is more than 10% of the sum assured (more than 20 % of sum assured (SA) for policies issued between April 1, 2003 and March 31, 2012).
GST collections stood at Rs 1.02 lakh crore in July, marginally up from the previous month, official data showed. The July 2019 mop-up was, however, 5.8 per cent higher than the Rs 96,483 crore collected in the same month last year.
Parliament approved the Code on Wages, 2019, a move that could extend the benefit of obligatory minimum wages to all workers not just those in ‘scheduled employments’ as at present. The code, which does away with the variation in minimum wages across sectors, received the Rajya Sabha nod on Friday.
RBI barred NBFCs shall not charge foreclosure charges/pre- payment penalties on any floating rate term loans sanctioned for purposes other than business to individual borrowers, with or without co-obligants," RBI said in a notification, without specifying from when the new rules will be effective.
Sebi slapped Rs 94.5 lakh penalty on 17 entities for indulging in fraudulent trade practices in illiquid stock options segment on the BSE. SEBI during investigation between April-September 2015, found that 81.38 % of all the trades executed in the stock options segment involved reversal of buy and sell positions by the clients and counter-parties in a contract on the same day.
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Firms may get to raise prices after transferring GST cuts:
READ MORE- https://www.gststation.in/firms-may-get-to-raise-prices-after-transferring-gst-cuts/
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Two lakh jobs cut in last 3 months across automobile dealerships: FADA:
READ MORE- https://www.gststation.in/two-lakh-jobs-cut-in-last-3-months-across-automobile-dealerships-fada/