How to get ready with GSTR-9 and GSTR-9C on Cygnet portal ?

How to get ready with GSTR-9 and GSTR-9C on Cygnet portal ?

 

Please see below for the necessary steps to complete the GSTR-9 and GSTR-9C filing process.

 

To populate the Cygnet portal with the required information, please follow these steps:

Auto Populate data if needed:

·         Initiate a session activation.

·         Synchronize sales register data.

·         Synchronize GSTR-2A and GSTR-2B data.

·         Synchronize GSTR-1 and GSTR-3B data.

  • Upload Sales Data:
    • Upload sales data for the current fiscal year (FY) to the Cygnet portal. Ensure that the data is detailed at the transaction level.
    • Additionally, consider uploading any previous FY sales data and any subsequent amendments, though this is recommended, not mandatory.
  • Upload Purchase Data:
    • Provide purchase data for the current fiscal year, broken down by categories such as Input (IP), Input Services (IS), and Capital Goods (CG).
    • Ideally, include Harmonized System of Nomenclature (HSN) codes for better classification.
    • Similar to sales data, consider including purchase data from the previous FY and subsequent years, if available.
  • Set Reconciliation and ITC Claim Month:
    • Make sure to configure and set the reconciliation and Input Tax Credit (ITC) claim months on the Cygnet portal as required.

Note: Please note that while previous year's data is not mandatory, it is recommended to provide a comprehensive view of financial transactions for better analysis and compliance.

 

Tasks related to filing GSTR-9 & 9C for the financial year 2022-23 include:

1.     Recording Input Tax Credit (ITC) adjustments that were initially recorded or reversed in FY 2022-23 but claimed in FY 2023-24. This information is reported in Table-8C, 12, and 13 of GSTR-9.

2.     Documenting supplies made during FY 2022-23 with tax payments made in FY 2023-24. This data is reported in Table-10, 11, and 14 of GSTR-9.

3.     Making necessary adjustments in Table-5 of GSTR-9C.

4.     Reporting Reverse Charge Mechanism (RCM) payments categorized by tax rates in Table-9 of GSTR-9C.

5.     Managing Input Tax Credits (ITC) that were initially booked in FY 2021-22 but claimed in FY 2022-23, which is detailed in Table-12B of GSTR-9C.


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