GSTR 9c due date Annual Return For FY 2022-2023
GSTR-9c Overview:
1. What is GSTR-9c ?
– GSTR-9C is a reconciliation statement and certification to be filed by taxpayers whose annual aggregate turnover exceeds a specified threshold. It is filed along with the annual return GSTR-9.
2. Purpose of GSTR-9C:
– The primary purpose of GSTR-9C is to reconcile the figures reported in the annual return (GSTR-9) with the audited financial statements of the taxpayer.
3. Applicability:
– GSTR-9C is applicable to taxpayers whose annual aggregate turnover exceeds the specified threshold, and they are required to get their accounts audited.
Components of GSTR-9c :
1. Part A - Reconciliation Statement:
– This part involves the reconciliation of the taxpayer’s declared turnover in the audited annual financial statement with the turnover declared in the annual return (GSTR-9).
2. Part B - Certification:
– In Part B, a Chartered Accountant or Cost Accountant certifies the reconciliation statement. This certification ensures that the reconciliation statement is correct and in accordance with the accounting principles.
Filing GSTR-9C:
1. Audited Financial Statements:
– Before filing GSTR-9C, the taxpayer needs to get their accounts audited by a Chartered Accountant or Cost Accountant.
2. Filing of GSTR-9:
– GSTR-9C is filed along with GSTR-9. The reconciliation statement (Part A of GSTR-9C) is auto-populated based on the figures reported in GSTR-9.
3. Certification:
– The certified reconciliation statement (Part B of GSTR-9C) is to be uploaded on the GST portal. This certification ensures that the turnover, tax paid, and other details in the annual return match with the audited financial statements.
4. Late Fees:
– Similar to GSTR-9, late fees may be applicable for delayed filing of GSTR-9C. It’s important to file within the prescribed due date to avoid penalties.
5. Amendments:
– If any discrepancies are identified during the audit or reconciliation process, amendments can be made while filing GSTR-9C.
Purpose of GSTR-9C Certification:
1. Accuracy Assurance:
– The certification by the auditor provides assurance to the government that the figures reported in GSTR-9 are accurate and in line with the audited financial statements.
2. Compliance Check:
– It ensures that the taxpayer has complied with the provisions of GST laws and has accurately reported their financial transactions.
3. Transparency:
– The reconciliation statement enhances transparency by providing a detailed reconciliation of financial data.
For the most accurate and up-to-date information, it’s advisable to refer to the latest guidelines and notifications issued by the GST authorities. If you have specific questions or need further clarification, feel free to ask!