CA Akshay Hiregange
Quick Summary
Introduction The action of departmental audits may impact the landscape of annual return filing. Considering the various changes in the GST law in the past year, this article aims to provide clarity on the filing of annual returns (Form GSTR 9) and reconciliation statements (Form GSTR 9C) along wit
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FAQ :
The due date for filing Form GSTR 9 and Form GSTR 9C for the financial year 2023-24 is 31st December 2024. This date is not expected to be extended.
Taxpayers with an aggregate annual turnover of up to Rs. 2 crores for FY 2023-24 are not required to file the annual return in Form GSTR-9.
For FY 2023-24, Table 8A of GSTR 9 will reflect ITC as per Table 3(I) of Form GSTR-2B, moving away from GSTR-2A. This aligns with Section 16(2)(aa) read with Rule 36.
Yes, new tables have been inserted for supplies on which an e-commerce operator is required to pay tax as per section 9(5), impacting tables 4G1 and 5C1. Additionally, HSN disclosures are now mandated at a 6-digit level for turnovers over Rs. 5 crore and 4-digit level for turnovers below Rs. 5 crore (for B2B only).
Key reconciliations include Turnover (Audited Financial Statements vs. Table 5A), Outward taxes (Books vs. GSTR 3B + DRC-03), GSTR 1 vs. GSTR 3B, and Inward taxes (Books vs. GSTR 3B) to identify ITC discrepancies. Closing balances between books and the GST portal also need verification.
No, taxpayers with an aggregate annual turnover between Rs. 2 crore and Rs. 5 crores are required to file GSTR 9 but do not need to file GSTR 9C. Only taxpayers with a turnover exceeding Rs. 5 crores are required to file GSTR 9C.
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