Learn about the differences between two types of tax forms – GSTR 9 annual return and GSTR 9C audit return. We’ll explain it in a simple and easy-to-understand way.
Digital is one word that would be synonymous with the current year in India. From GSTN to the e-Way Bill, the finance sector, by far more than any other Industry, went through the most aggressive digital; makeover in recent years.
For better or worse, we must now accept the fact that 2022 was the year when India took a major leap towards s digital economy. But the year is not over yet and there is one small but very important event left in the tax calendar i.e. GSTR-9 and GSTR-9C.
The GSTR-9 form is an annual return that has to be filed by all registered taxable persons under GST. The GSTR-9C is the GST reconciliation Statement for a particular FY on or before 31st December.
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Here’s a comparative view of both GSTR 9 annual & GSTR 9C audit forms so that taxpayers do not get confused and cross this annual tax hurdle with ease:
Simple to Understand Comparison Between GSTR 9 & GSTR 9C
| GSTR-9 | GSTR-9C | |
|---|---|---|
| TYPE | GSTR 9 is an Annual Return | GSTR-9C is a Reconciliation Statement |
| GST ACT | Prescribed in Section 44(1) of the CGST Act | Prescribed in Section 35(5) of Section 44 of the CGST Act |
| PARTS | GSTR-9 has Six Parts. | Prescribed in Rule 80 under Section 44 of the CGST Act |
| Prescribed under a Statute | Prescribed under a Statute | |
| ELIGIBILITY | To be filed by all Registered Taxpayers under Goods and Services Tax T.O. Up to 2 Cr – Optional More than 2Cr. – 5 Cr – Mandatory More than 5Cr – Mandatory | To be filed if the turnover in an FY exceeds Rs 2Cr T.O. Up to 2 Cr – N/A More than 2Cr. – 5 Cr – Optional More than 5Cr – Mandatory |
| SIGNATURE | Digitally signed by the Registered Taxpayer. | Digitally signed by the GST Auditor (CA/CMA). Now there is no such requirement |
| THRESHOLD | No Threshold | Subject to Threshold |
| ANNEXURES | Financials need not be annexed | Financials need to be annexed |
| GSTR-9 Must be filed before GSTR-9C | GSTR-9C has to follow the GSTR-9 annual return | |
| DUE DATE | Must be filed on or before 31st December subsequent For FY 2022-23 | The minimum is Rs 100 under CGST & 100 under SGST i.e. Total Penalty is Rs 200 per day. The Maximum penalty can be a quarter percent of the taxpayer turnover |
| LATE FEES | The minimum is Rs 100 under CGST & 100 under SGST i.e. Total Penalty is Rs 200 per day. The Maximum penalty can be a quarter per cent of the taxpayer turnover | Section 125 of CGST Act, 2017 states a penalty of up to Rs 25,000/- for not getting the accounts audited |
GSTR 9 and GSTR 9C Exemptions
The following individuals are exempted from filing the GSTR-9 Annual Return
- Casual Taxable Person
- Input service distributors
- Non-resident taxable persons
- Persons collecting taxes under Section 52 of the GST Act
- Person deducting taxes (TDS) under section 51 of the GST Act.
- Online Information and Database Access Retrieval Service
In the case of GSTR-9C, in addition to the individuals belonging to any one of the above set of individuals exempted from GSTR-9, as well as Composition Dealers and registered taxpayers with an annual turnover not exceeding Rs 2 Crores for a given FY need not submit the GSTR-9C reconciliation statement.
Recommended: Download PDF Format GSTR 9 Annual, GSTR 9C Audit & GSTR 9A
Note: GSTR-9C is dependent on GSTR-9 Annual Return. Hence the annual return must be filed first. Also, taxpayers must remember that the return can be filed only once and there are no provisions to revise this return. Also, the maximum penalty for failing to file the GSTR-9 return cannot exceed 0.25% of the total turnover in the respective state/union territory.
Major Queries Related to Comparision B/w GSTR 9 and GSTR 9C
Q.1 – Is there any distinction between Form GSTR-9 & GSTR-9C?
- Yes, the distinction between the 2 forms is that GSTR-9 is to be furnished via all the regular assessee. And on the other side Form, GSTR9C is to get furnished via those assessee’s whose yearly turnover is Rs 2 cr or more towards that fiscal year.
- In GSTR-9C the assessee is required to obtain their account audited via CA and furnish a copy of the audited yearly accounts & reconciliation statements, beneath section 44(2) of the CGST Act.
Q.2 – What fields in the GSTR-9C will get auto-populated from Form GSTR-9?
Below is the mentioned information which will be generated from Form GSTR-9:
- Declared Turnover in GSTR-9
- Taxable turnover as per liability, declared in GST return 9 form
- Total Tax liability paid as per GSTR-9
- ITC claimed in GSTR-9
Q.3 – A taxpayer did not furnish the yearly return GSTR-9. Could he furnish the Form GSTR-9C?
No, he would only furnish his GSTR-9C if he furnished Form GSTR-9 towards the tax duration.
Q.4 – What is the last date towards GSTR 9 & GSTR 9C for FY 2023-24?
To prevent the last-minute filing all the assessee are needed to furnish their Annual Return (FORM GSTR-9 and GSTR 9C) as soon as possible.
- 31st December 2024
Q.5 – Will the last date towards the yearly return will be prolonged?
To prevent the last-minute filing all the assessee are needed to furnish their(GSTR-9 annual return form and GSTR 9C audit form) as soon as possible.
- No such notification/announcement yet
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Hi Arpit,
Thanks for sharing good knowledge, but can referred us notification about applicability of GSTR 9C mandatory should be signed by CA/CMA.
As per Notification No. 30/2021 – Central Tax dated 30.07.2021, filling of GSTR9Cassessee may file GSTR9C reconciliation form on the basis of self declaration.
Thanks