CBIC allows GST self-certification

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 (CAs), the CBIC has said.

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.

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 chartered accountant.

Through a notification, the Central Board of Indirect Taxes and Customs (CBIC) amended GST rules and provided that taxpayers with aggregate turnover during a financial year exceeding Rs 5 crore would furnish a self-certified reconciliation statement along with the annual return, instead of a CA certified statement.