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GSTR 9C – Return Filing, Format, Eligibility & Rule

What is GSTR-9C?

GSTR 9C is an Audit form, to filed annually by taxpayers whose turnover is above 2 Crores
A Registered person/Taxpayer whose turnover during a financial year exceeds the 2 crores should get his accounts audited by a chartered accountant or a cost accountant.
The limit is increased to Rs 5 crores for the GSTR-9C of FY 2018-19 as per the CBIC notification released on 23rd March 2020.

What are the requirements to file GSTR-9C?
The Annual Returns in GSTR-9 filed for a financial year and the information on figures per the audited Annual Financial Statements of the taxpayer.

What is Form GSTR-9C For?

The GSTR-9C-Reconciliation statement must be signed in digital format by the GST Auditor and report on all discrepancies, mismatch on liabilities, or in filing any of the GST returns during the financial year must be quoted.
Additional liabilities arising out of the reconciliation exercise and GST audit must be reported and certified by a CS in GSTR-9C. The GSTR-9c is the only indicator for GST Authorities to understand and measure the correctness of GST returns filed by taxpayers in that particular financial year.


Who must prepare & submit GSTR-9C?

GSTR-9C and its details should be prepared and a Chartered Accountant or Cost Accountant has to certify it. This information has to be filed on the GST portal. It can also be filed through a facilitation center by the taxpayer, along with other documents. If a taxpayer is filing via facilitation center, then the copy of the Audited Accounts and Annual Return in form GSTR-9 has to be furnished along with it
All the statements provided along with GSTR-9C is must get their Annual Accounts audited under the GST laws. Audit under GST applies to those registered persons whose Annual aggregate turnover exceeds rupees Two Crores in that particular financial year.
^The limit is enhanced to Rs 5 crore for the GSTR-9C of FY 2018-19 as per the CBIC notification dated 23rd March 2020.

Information in GSTR-9C Form

The GSTR-9 has two major parts:
Part-A: Reconciliation Statement
Part-B: GSTR 9C Certification

Part B certification consists of
1 – Certification in cases where the reconciliation statement (Form GSTR 9C) is drawn up by the person who had conducted the audit.
A – Balance sheet date
B – P&L Account including dates
C – Cash flow statement including dates

2 – Based on the audit the auditor mentioned:
Proper maintenance of books status-Maintained or not
3(A) – Based on any observations done by the auditor, reporting any differences:
3(B) – Further reporting
4 – Documents required under section 35(5) of CGST and reconciliation statement required which are to furnished under section 44(2) of CGST Act annexed in form no. GSTR 9C
5 – All the details and transactional information stated in GSTR form 9C are validated in this point.

Exemptions Under GSTR9C

1. Advance received for exempted services as on 31st March 2018
2. Advance received for Goods after 15th Nov 2017
3. Financial Advances received which are not adjustable against any services

What is the due date for GSTR-9C?

The due date for submitting the Annual returns in GSTR-9C is the same deadline for submission of GSTR-9. Hence, the GSTR-9C must be filed on or before 31st of December for the last financial year.

Penalty and Charges

The taxpayer has to pay Rs. 200 per day as a penalty in which Rs. 100 consist of SGST and Rs. 100 for CGST. It is to be noted that the total penalty cannot exceed 0.50% of the total turnover.

Find Your GSTR9C Form here:GSTR-9C