As the deadline for filing GSTR-9 (Annual Return) and GSTR-9C (Reconciliation Statement) for the financial year 2023–24 approaches, businesses need to gear up for accurate and timely filing. Both forms play a critical role in maintaining GST compliance and ensuring financial transparency. The deadline for FY 2023–24 is December 31, 2024.
Overview of GSTR-9 Forms
| Form | Who Should File | Purpose |
| GSTR-9 | Regular taxpayers registered under GST (excluding composition taxpayers) | Consolidates monthly/quarterly GST returns (GSTR-1, GSTR-3B) filed during the year. |
| GSTR-9A | Taxpayers registered under the composition scheme during the financial year | Summarizes details of outward and inward supplies, tax liability, and ITC. |
| GSTR-9B | E-commerce operators required to collect TCS (Tax Collected at Source) under GST | Summarizes supplies made through the e-commerce platform and TCS collected. |
| GSTR-9C | Taxpayers with turnover exceeding ₹5 crore during the financial year | Reconciles GSTR-9 with audited financial statements and includes an auditor’s certification. |
GSTR-9: Annual Return
GSTR-9 consolidates details from all monthly and quarterly GST returns (GSTR-1, GSTR-2A, GSTR-2B, and GSTR-3B) filed during the financial year.
- Outward supplies: Goods and services sold.
- Inward supplies: Purchases and expenses.
- Tax liabilities: Taxes paid or payable.
- ITC (Input Tax Credit): Claimed and reversed.
- Refunds or demands: Amounts claimed or pending.
Who Should File GSTR-9?
All regular GST-registered taxpayers must file GSTR-9, except:
- Composition taxpayers (who file GSTR-9A).
- Casual taxable persons.
- Non-resident taxable persons.
- Input service distributors.
Did You Know
For businesses with turnover up to ₹2 crore, filing is optional to ease compliance (as per CGST Notification No. 14/2024).
What is the Due Date for Filing GSTR-9?
The due date for filing GSTR-9 for the financial year 2023–24 is December 31, 2024.
Key Sections in GSTR-9
| Part | Details to Be Filled |
| Part I | Basic details (GSTIN, legal name, trade name). |
| Part II | Outward and inward supplies made during the financial year (auto-populated, editable). |
| Part III | ITC availed and reversed during the financial year. |
| Part IV | Taxes paid as declared in returns filed during the financial year. |
| Part V | Transactions of FY 2023–24 reported after March 31, 2024 (up to September 2024). |
| Part VI | Miscellaneous information (e.g., refunds, demands, late fees, HSN summary). |
Late Fees and Penalties for Not Filing GSTR-9
| Turnover | Late Fee per Day | Maximum Late Fee |
| Up to ₹5 crore | ₹50 (₹25 CGST + ₹25 SGST) | 0.04% of turnover in the state/UT (0.02% each for CGST and SGST). |
| ₹5 crore to ₹20 crore | ₹100 (₹50 CGST + ₹50 SGST) | 0.04% of turnover in the state/UT (0.02% each for CGST and SGST). |
| Above ₹20 crore | ₹200 (₹100 CGST + ₹100 SGST) | 0.50% of turnover in the state/UT (0.25% each for CGST and SGST). |
GSTR-9C: Reconciliation Statement
GSTR-9C is a reconciliation statement between the details reported in GSTR-9 and the audited financial statements. It is mandatory for taxpayers whose turnover exceeds ₹5 crore in the financial year.
What is the Due Date for Filing GSTR-9C?
The due date for filing GSTR-9C for the financial year 2023–24 is December 31, 2024.
Key Details in GSTR-9C
| Section | Details |
| Part A | Reconciliation of turnover declared in GSTR-9 with audited financial statements. |
| Part B | Auditor’s certification, including observations, discrepancies, and confirmations regarding the accuracy of GST compliance. |
| ITC Reconciliation | Matching ITC claimed in GSTR-3B with books of accounts and vendor invoices. |
| Tax Payment Reconciliation | Validating the taxes declared and paid in GSTR-3B against the liabilities shown in audited accounts. |
Documents to Keep Handy Before Filing GSTR-9/9C
Filing these forms requires careful preparation to ensure accuracy and compliance. Follow these steps to make the process smoother:
- Download relevant returns:
- GSTR-1: Outward supplies.
- GSTR-3B: Tax payments.
- GSTR-2A/2B: ITC claimed and eligible input credit.
- Reconcile records:
- Match data in your books of accounts with the GST returns filed.
- Cross-verify outward supply details, tax paid, and ITC claims.
- Verify transactions:
- Ensure all sales, purchases, and adjustments for the financial year are correctly recorded.
- Identify and rectify discrepancies between GSTR-3B and GSTR-1 or GSTR-2A/2B.
- Keep documents ready:
- Invoices, tax payment challans, refund documents, and credit/debit notes.
- Audited financial statements for GSTR-9C.
Important Checkpoints for Filing GSTR-9/9C
- Sales reporting
- Ensure B2B and B2C sales are correctly reported.
- Verify e-invoices are generated for all applicable sales.
- Match export data with shipping bills on ICEGATE and GSTR-1.
- ITC reconciliation
- Reconcile ITC claimed in GSTR-3B with GSTR-2A/2B and the purchase register.
- Reverse ineligible ITC and report reclaimable ITC accurately.
- Other key points
- Verify the HSN classification of goods and services.
- File amendments for errors or omissions in previously filed returns.
- Reconcile taxes paid under the Reverse Charge Mechanism (RCM) and regular supplies.
- Compare annual Income Tax Return (ITR) with GSTR-9 to avoid mismatches.
Conclusion
Filing GSTR-9 and GSTR-9C is not just a regulatory requirement but an opportunity to ensure the accuracy of your GST compliance and financial records. The process may seem daunting due to the volume of data and reconciliations involved, but with proper preparation and attention to detail, it can be managed effectively.
Here are the key takeaways:
- Start early: Avoid last-minute rushes by preparing well in advance. Begin with reconciling your financial records, GST returns, and ITC claims.
- Focus on accuracy: Filing incorrect data may invite audits, penalties, or compliance notices. Cross-verify your details thoroughly before submission.
- Leverage tools or professional help: For businesses dealing with high volumes of data or complex reconciliations, using automated GST tools or consulting a professional is highly recommended.
- Adhere to deadlines: Missing the December 31, 2024 deadline can result in significant penalties, which vary based on turnover. Timely filing is the simplest way to avoid this.
- Utilize this filing as an audit: Treat GSTR-9 and GSTR-9C as an annual check of your business’s compliance health. Resolve discrepancies and adjust processes to avoid similar errors in the future.
By adhering to the guidelines laid out in this blog, you can ensure seamless filing and maintain a spotless compliance record. Make compliance your priority, and file your GSTR-9 and GSTR-9C on time to secure your business’s GST credibility.
Frequently Asked Questions
Is filing GSTR-9 mandatory?
Yes, it is mandatory for all taxpayers with turnover exceeding ₹2 crore.
Can GSTR-9 be revised after filing?
No, GSTR-9 cannot be revised once filed.
Should GSTR-9 be filed at entity or GSTIN level?
GSTR-9 must be filed at the GSTIN level. Each GST registration requires a separate filing.
Do I need to reconcile ITC before filing?
Yes, ITC claimed must be reconciled with GSTR-2A/2B before filing GSTR-9.
Is filing required for cancelled GST registrations?
Yes, GSTR-9 must be filed even if the registration was cancelled during the financial year.
