The deadline to file GSTR-9 and GSTR-9C has been extended to February 28, 2022

What is GSTR-9?

GSTR-9 is an annual return required to be filed by registered taxpayers. It contains a consolidated summary of all monthly returns. It is divided into 6 parts and 19 sections. GSTR-9 is known as a compilation return for all the supplies made and received during the year under different tax heads. GSTR-9 can be filed online at https://www.gst.gov.in/ or through an offline tool. However, to download the excel-based GSTR-9 offline utility, your system must meet certain requirements. Your system must have an operating system of Windows 7 or above and Microsoft Excel 2007 version or above. 

Who is required to file GSTR-9 and GSTR-9C? 

Persons meeting the following criteria are required to file GSTR-9

Must be a registered taxpayer and have a 15 digit Goods & Services Tax Identification Number (GSTIN)

Aggregate turnover of the business must exceed Rs. 20 lakhs

Transactions must be maintained at an invoice level. These transactions include:

• Intra-state and inter-state transactions 

• B2B and B2C transactions 

• Transactions associated with exempted items 

• Non-GST supplies 

• Stock transfers between businesses located across different states 

GSTR-9 and GSTR-9C must be certified by a Chartered Accountant. It should be duly submitted by the taxpayer on the official GST website with other paperwork. For instance, paperwork can include a printed version of the annual returns or audited accounts. Further, this return should be filed by all the registered taxpayers having a Unique Identification Number (UIN) and non-resident taxpayers. 

However, Taxpayers opting Composition Scheme, casual taxable person, Input service distributors

Non-resident taxable persons and persons paying tax deducted at source are not required to file returns. 

Is there any penalty for not filing GSTR-9?

Yes, there are late fees charged for not filing GSTR-9. The late fee for Central Goods and Services Tax (CGST) is Rs. 100 per day and Rs. 100 per day for State Goods and Services Tax (SGST). Thus, the total late fee amounts to Rs. 200 per day. As of now, no late fee is charged under Integrated GST (IGST). IGST is subject to 0.5% (0.25% of CGST and 0.25 % of SGST) of the taxpayer’s turnover. 

What is GSTR-9C?

GSTR-9C is one of the subcategories of GSTR-9. It is an annual return required to be filed by all dealers whose turnover for the year exceeds Rs. 5 crores. Initially, the turnover limit was Rs. 2 crores. It is also known as an audit form for taxpayers. Taxpayers who are liable to get their annual income returns audited are required to file GSTR-9C. Thus, companies with an annual turnover exceeding Rs. 5 crores in a fiscal year have to get their reports audited. Taxpayers also have to fill a reconciliation statement and audit certification. The reconciliation statement is between the audit financial statements of the fiscal year with regards to tax already paid and tax payable according to the audit reports.

Extension of deadline to file GSTR-9 and GSTR-9C 

Initially, the due date to file GSTR-9 and GSTR-9C was 31st December 2021. The due date has been extended to 28th February 2022. 

Conclusion

Each taxpayer is obligated to have their financial statements inspected. They must file GSTR-9 and GSTR-9C. These returns can be filed either online or offline. Further, the government has extended the deadline to file the returns to 28th February 2022. 

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Author:

Mili Rawat
Dehradun
B.A.LLB(Hons.) from National Law Institute University, Bhopal.