There has been ongoing confusion over who is required to file GSTR-9 and GSTR-9C forms and whether the information needed for both is the same ever since CBIC released the forms. Read to know more.
What is Form GSTR-9 and who is liable to file GSTR 9?
It is an annual return that must be filed by all registered taxpayers under GST. The return includes information such as the taxpayer's inward/outward supply, taxes paid, refund claimed, demand raised, and ITC received. Except for-
Casual taxpayers
Input Service Distributors
Non-resident taxpayers
Taxpayers deducting/collecting tax at source under Section 51 or Section 52
What is Form GSTR 9C?
GSTR-9C is a statement of reconciliation between:
The Annual Returns in GSTR-9 filed for a FY, and
The figures as per the audited annual Financial Statements of the taxpayer.
It will consist of gross and taxable turnover as per the Books reconciled with the respective figures as per the consolidation of all the GST returns for an FY
What is the Applicability of GSTR 9 & 9C
GSTR9- GST-registered taxpayers with a total turnover exceeding ₹2 Cr.
GSTR9C- GST-registered taxpayers with a total turnover exceeding ₹5 Cr.
What is the Due date for GSTR 9 & 9C
The due date for filing GSTR 9 is the 31st of December of the year following the relevant financial year unless extended otherwise by CBIC.
Late Fee for Delayed GSTR-9 & GSTR-9C Filing for FY-2022-23
S.No | Registered Person with a Total Annual Turnover | Late Fees |
1 | Upto Rs. 5 Crore | Rs 50 per day (Rs25 + Rs25/-), Subject to the maximum of an amount of 0.04% of turnover in the state or Union territory. |
2 | Rs. 5 Crores to Rs. 20 Crores | Rs. 100 per day (Rs50 + Rs50/-), Subject to a maximum of an amount of 0.04% of turnover in the state or Union territory |
3 | More than Rs. 20 Crores | Rs 200 per day (Rs100 + Rs100/-), Subject to a maximum of an amount of 0.5% of turnover in the state or Union territory |
We hope the above blog was helpful in enhancing your knowledge on the matter. In case of any queries feel free to get in touch with our team of experts.
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