Form GSTR-9C serves as a reconciliation statement, comparing the details of the annual returns filed in GSTR-9 with the figures in the taxpayer's audited financial statements for the same financial year. This reconciliation ensures accurate reporting and is a mandatory filing for taxpayers who require an annual audit of their accounts. The form must be prepared and certified by a qualified Chartered Accountant or Cost Accountant.
Eligibility for Filing GSTR-9A : GST-registered taxpayers who operate under the Composition Scheme must file GSTR-9A. This form includes all the information already submitted in their quarterly returns for the specific fiscal year.
Exemptions from GSTR-9A: Certain categories of taxpayers are exempt from filing GSTR-9A, including:
The due date for filing the GST Annual Return (GSTR-9) is 31st December of the subsequent financial year. However, the government may extend this deadline through notifications from time to time.
It is crucial to submit GSTR-9 within the stipulated due date. Failure to file on time results in a penalty of 200 INR per day (100 INR for CGST and 100 INR for SGST). There is no penalty for IGST. However, the penalty will not exceed the taxpayer's quarterly turnover.
To avoid these penalties, it is essential to meet the GSTR-9 filing deadline and ensure smooth tax compliance.