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All about GSTR-9 & GSTR-9C Filing

CA Shubhi Khandelwal 
on 13 July 2020

LinkedIn


The Ministry of Finance announced the due date to file GSTR 9, GSTR 9A & GSTR 9C form i.e. 30th September 2020 for the FY 2018-19 via a notification. Therefore, it is mandatory to file the GSTR 9/GSTR-9C annual return form and GSTR 9C audit reconciliation form as soon as possible to avoid any penalties.

Lets understand the basic concepts and their eligibility for filing of Form GSTR-9/ GSTR-9C.

GSTR-9: Annual Return

Form GSTR-9 should be filed yearly by registered taxpayers. It is a consolidation of all the monthly/quarterly returns (GSTR-1, GSTR-2A, GSTR-3B) filed in that year. Though complex, this return helps in extensive reconciliation of data for 100% transparent disclosures.

 It is divided into the following parts:

  • Part I: It includes the basic registration details of the taxpayer, including GSTIN, legal name of GST registered entity, applicable FY and Trade name
  • Part II: It includes the details of outward and inward supplies made during the relevant Financial Year
All about GSTR-9 and GSTR-9C Filing

Eligibility for filing Form

Turnover

Filing

Upto 2 Cr

Optional

Above 2 Cr

Mandatory

The below-mentioned taxpayers have to file the annual return:

  • All normal taxpayers registered under GST
  • SEZ unit or SEZ developer
  • OIDAR Service Providers
  • Normal Taxpayers who have withdrawn from Composition Scheme 

However, there are a few exceptions to this rule. The below taxpayers do not mandatorily need to file GSTR 9:

  • Casual Taxpayers
  • Non Resident Taxpayers
  • Input Service Distributors
  • Persons paying TDS under Section 51 of the CGST Act

Note: Composition Taxpayers are required to file GSTR 9A instead of GSTR 9.

GSTR-9C (Audit Form) under GST

Every registered person whose turnover during a financial year exceeds rupees five crores shall get his accounts audited by a chartered accountant or a cost accountant and need to submit a copy of audited annual accounts. 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 is considered to be similar to that of a tax audit report furnished under the Income-tax act. It consists of the turnover as per the Books reconciled with the respective figures as per the consolidation of all the GST returns filed for that respective year. Hence, any differences arising from this reconciliation, will be reported in GSTR-9C along with the reasons for the same.

Eligibility for filing Form

Turnover

Filing

Upto 2 Cr.

Optional

2 Cr.- 5 Cr.

Optional (Benefit Provided)

Above 5 Cr.

Mandatory

 

*Filing of GSTR-9C for FY 2018-19 has been made optional for MSMEs with an aggregate turnover of less than Rs. 5 crore.

The author can also be reached at shubhikhandelwal30@yahoo.com

 

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Category GST
Other Articles by - CA Shubhi Khandelwal 




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