GSTR 9C Annual Return

What is GSTR 9C?  

GSTR-9C is a crucial reconciliation statement under GST that every taxpayer with an annual turnover exceeding Rs. 5 crore must file. It ensures that the information in the GST annual return (GSTR-9) matches the audited financial statements of the business. This form needs to be certified by a Chartered Accountant (CA) or Cost Accountant, ensuring compliance with GST laws. Filing GSTR-9C accurately is essential for transparency, tax correctness, and avoiding penalties.

Applicability of GSTR 9C  

GSTR-9C is a reconciliation statement between the audited financials and GSTR-9.

• It is applicable to regular taxpayers registered under GST.
• It must be filed only if the aggregate turnover exceeds ₹5 crore in a financial year.
• It must be certified by a Chartered Accountant or Cost Accountant.
• Composition taxpayers are not required to file GSTR-9C.
• Input Service Distributors (ISD), TDS/TCS deductors, and NRTPs are also exempt.
• It is filed along with GSTR-9 annually.

Who Needs to File GSTR 9C?   

• Businesses with annual turnover exceeding ₹5 crore in a financial year.
• Registered taxpayers required to get their accounts audited under GST law.
• Entities engaged in multiple branches or states with consolidated reporting.
• Companies and LLPs registered under regular GST, not under composition scheme.

Consequence of Non-Compliance

• Late fee of Rs. 200 per day (Rs. 100 each for CGST and SGST)up to a maximum of 0.5% of the taxpayer’s turnover in the relevant state or union territory.
• The penalty for non-filing of GSTR-9C is capped at ₹25,000 under Section 125 of the CGST Act.
• GSTR-9C cannot be filed without GSTR-9, so delay in one affects both.
• Non-filing may lead to notices from the GST Department.
• It can trigger audit or scrutiny proceedings by tax authorities.
• The taxpayer may be liable to pay interest and penalties on any unpaid or wrongly claimed tax.
• Non-compliance may impact the GST compliance rating of the taxpayer.
• Persistent default can lead to cancellation of GST registration.
• Businesses may face trouble in getting refunds or participating in tenders due to non-compliance.

Why Choose Tax Intelligence for GSTR 9C Filing?   

Tax Intelligence is a leading business platform providing comprehensive corporate legal services, including company incorporation, compliance, advisory, and management consultancy, both in India and internationally. The platform offers fast, easy, and affordable GST return filing, TDS return filing, and trademark registration.

How Tax Intelligence Works for GSTR 9C Filing?

• Initial Consultation: Our experts understand your business structure and GST turnover to check if GSTR 9C applies to you.
• Data Gathering: We collect your GSTR-1, GSTR-3B, GSTR-9, and audited financial statements for complete review.
• Reconciliation: Our team matches your GST returns with books of accounts to identify differences in sales, ITC, or tax paid.
• Audit Verification: A Chartered Accountant reviews all reconciled data, ensuring compliance with GST audit requirements.
• Difference Rectification: Any mismatches or shortfalls found are corrected before final submission to avoid notices or penalties.
• Form Preparation: We prepare Form GSTR-9C along with Part A (Reconciliation) and Part B (CA Certificate) for your approval.
• Filing Process: After review, we upload the self-certified or CA-certified GSTR 9C report on the GST portal.
• Post-Filing Support: We share acknowledgment details, compliance status, and guidance for your next financial year filing.
• Ongoing Advisory: Our GST experts assist you in maintaining accurate records and timely filings for future audits