The Goa Chamber of Commerce and Industry (GCCI) has formally petitioned Union Finance Minister Nirmala Sitharaman to waive late fees for filing GST annual returns (GSTR-9) and reconciliation statements (GSTR-9C) for FY 2024-25.
Specifically, the GCCI requests that the Ministry extend the filing deadline to January 31, 2026, and grant relief on penalties, citing the delayed release of statutory forms and new complex amendments as major obstacles for taxpayers.
GCCI director general Sanjay Amonkar said in a letter to Sitharaman that on October 15, the forms were made available on the GST portal. Such structural revisions, in the ITC reporting and multiple disclosure requirements, have lessened the time available for taxpayers to complete the comprehensive reconciliations.
Taxpayers must submit Form GSTR-9 who hold the turnover exceeding Rs 2 crore to ensure that the numbers reported in annual GST returns match those in the audited books of accounts. Rs 200 per day is charged as a late fee for delays.
The GCCI further noted that the Central Board of Indirect Taxes & Customs (CBIC) continued to update auto-populated Input Tax Credit (ITC) data as late as November 30. This volatility in the figures—driven by delayed invoice reporting from vendors—persisted until the final statutory deadline for reporting FY 2024-25 invoices, making it nearly impossible for businesses to reconcile their accounts accurately.
The chamber stated that the GST rationalisation declared in September rolled out significant changes in tax rates and compliance processes, which required extensive updates and affected the timelines.
Precise preparation of GSTR-9 and GSTR-9C needs reconciliation with audited financial statements and tax audit reports. With audits and corresponding compliances extending into Nov and Dec for many taxpayers, the effective window for finalising GST filings has been reduced, Amonkar cited.
