The introduction of the Goods and Services Tax (GST) has brought about a significant transformation in India’s indirect tax system, implementing an integrated (single-point levy) Goods and Services Tax. Within this adaptive Tax System, the GSTR-9 and GSTR-9C forms play a crucial job in assuring compliance and transparency under the GST ecosystem. In this case, the GSTR 9C Due Date must be filed no later than 31st December of the financial year 2023-24 following the audited year. Depending on the circumstances, the government can extend the due date.
GSTR-9 furnishes a comprehensive brief of a taxpayer’s yearly GST transactions, whereas GSTR-9C coordinates such transactions with the audited financial records. It is imperative for firms functioning as per the GST structure to have a comprehensive understanding of these forms and file them accurately.
For businesses, one of the important facets of GST regulation is the filing of annual returns, the GSTR-9C form is included in this. This form is specifically created to integrate the taxpayer’s yearly returns with the audited financial records. This article provides the details of the due date for filing the annual return form of GSTR-9C, providing understanding to help companies monitor compliance.
What Is GSTR 9C (Audit Form) Form Under GST?
GSTR-9C is a statement that reconciles and aligns the financial records of businesses registered under GST. It is required to be submitted annually. This process involves carefully integrating the information provided in the annual return (GSTR-9) with the audited financial statements. The form consists of two sections: Part A, which reconciles the revenue, and Part B, which reconciles the input tax credit (ITC).
GSTR-9C serves as a yearly Self Reconciliation Statement for dealers whose turnover exceeds 5 crores in a financial year. The deadline for filing the GSTR-9C annual return form is mentioned in notification No. 49/2018 Central tax dated September 13, 2018.
The CA Portal provides comprehensive information about the due date for the GSTR-9C Annual Return Form, along with a step-by-step guide on how to file the form, including helpful screenshots. The GSTR-9C form also includes a reconciliation statement for turnover, input tax credits, and other tax payments.
Read Also: GSTR 9 Annual Return Form Due Date
Who is Required to File the GSTR 9C (GST Audit Form)?
The Central Board of Indirect Taxes and Customs (CBIC) has waived the filing of annual returns through Form GSTR-9 and GSTR-9C for turnovers up to 2 crores and 5 crores respectively. This was announced as the 6th anniversary of the implementation of the Goods and Services Tax (“GST”).
All those dealers having turnover below Rs. 5 crores in the financial year 2022-23 should file the GSTR 9C form along with a reconciliation statement and certification of an audit.
| Period | Filing | |
|---|---|---|
| Up to 2 Cr. | N/A | |
| More than 2Cr. – 5 Cr. | Optional(Benefit Given) | |
| More than 5Cr. | Filling is mandatory |
Using CBIC to Manage Your GSTR 9C Submission Requirements
To simplify the process of filing GSTR-9C, the Central Board of Indirect Taxes and Customs (CBIC) has instructed various measures. Here are some ways to streamline the process of the GSTR-9 submission.
- Consistently organize and match the accounts with the returns to prevent any last-minute rush or mistakes.
- Employ automated accounting and reconciliation software to facilitate smooth and precise data integration.
- Keep thorough records of all financial transactions and supporting paperwork, as they may be necessary during the audit.
- Take advantage of the offline utility tool offered by the GST portal to simplify the preparation and submission of GSTR-9C.
- Seek aid from experts, such as chartered accountants, to ensure precise data input and filing.
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Need to File Your Credentials And Documents of GSTR 9C
To file GSTR-9C, the below credentials and essentials are required:
- The GSTIN (Goods and Services Tax Identification Number) belongs to the registered taxpayer.
- The login credentials (username and password) are required to access the GST portal.
- A digital signature certificate (DSC) is used for the purpose of authentication.
- The audited yearly financial statements, which include the balance sheet, profit and loss account, and cash flow statement.
- Information regarding all invoices, debit notes, credit notes, and other pertinent documents for the audited financial year.
- Comprehensive details regarding both outward and inward supplies made throughout the financial year.
- Information about the Input Tax Credit (ITC) that was claimed and utilized during the financial year.
- A statement that reconciles the audited financial statements with the annual return in Form GSTR-9.
- Any additional relevant documents requested by the auditor or the GST authorities.
53rd GST Council Meeting: Several key Recommendations
“The relaxations provided in FY 2023-24 for FORM GSTR-9 and FORM GSTR-9C have been announced by the 53rd GST Council Meeting. It comprises the exemption from filing the annual return for taxpayers having an aggregate yearly turnover of up to two crore rupees. Such revisions have been made by the Council to streamline the compliance load on smaller taxpayers.”
“The 53rd meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman, made several key recommendations to improve GST compliance and facilitate business operations. Here are the highlights: Official Press Release“
GSTR 9C Due Date for FY 2023-24
| Form Name | Return Annually | Updated Due Date |
|---|---|---|
| GSTR 9C | FY 2022-23 | 31st December 2023 | GSTR 9C | FY 2021-22 | 31st December 2022 |
| GSTR 9C | FY 2020-21 | 31st December 2021 To 28th February 2022 Read notification |
| GSTR 9C | FY 2019-20 | 31st December 2020 | All States & UTs Read More notification) |
| GSTR 9C (GST Audit Form) | FY FY 2018-19 | 31st December 2020 | Extended Read More notification) |
Key Differences Between GSTR 9 and GSTR 9C
GSTR-9 and GSTR-9C are essential GST filings that individuals registered under GST must complete. However, they serve different purposes and have specific requirements.
GSTR-9 is an annual return that presents a summary of all the supplies made, both outward and inward, throughout the financial year. It also includes information regarding the payment of GST and the utilization of Input Tax Credit (ITC).
All regular GST-registered taxpayers, excluding Input Service Distributors (ISDs), Casual Taxable Persons, and Non-Resident Taxable Persons, are obligated to file GSTR-9.
On the other hand, GSTR-9C is a comprehensive reconciliation statement that ensures the accuracy and alignment of the GST payments and ITC claims with the audited financial statements.
Latest News/Updates:
- The due date for filing GSTR-9 for the financial year 2022-23 has been extended for certain districts in Tamil Nadu. Read official Notification
- “GSTN has recently launched the offline utility for GSTR-9 and GSTR-9C for 2022-2023. This utility can be downloaded easily from the GST portal. The offline utility is a valuable tool for taxpayers who prefer to prepare GSTR-9 and GSTR-9C returns offline. You can fill out the returns using a user-friendly, step-by-step guide. A number of helpful features are also included in the utility, which makes the process as simple as possible.”
- “Features include importing GST data, previewing the returns before submitting, and generating a JSON file for easy GST portal uploading. The GSTR 9C offline utility helps taxpayers save time and effort when filing their returns. All of this makes the process easier and more efficient.”Features include importing GST data, previewing the returns before submitting, and generating a JSON file for easy GST portal uploading. The GSTR 9C offline utility helps taxpayers save time and effort when filing their returns. All of this makes the process easier and more efficient.”
- “30th December 2021: “The CBIC has once again extended the due date for filing GSTR 9 and GSTR 9C annual and audit returns for FY 2020-21 till 28th February 2022 from 31st Dec 2021.” Read Notification
- “25th August 2021: “CBIC has scheduled several webinars for the recently implemented new functionality in GST Audit for the shareholders and taxpayers in different languages.” Read More
Find a complete step by step guide to file GSTR 9C along with guided screenshots for the taxpayers here.
