Filing Annual Return of GST 9 & 9C
Filing of GSTR-9 (Annual Return) and GSTR-9C (Reconciliation Statement) under GST in India is compulsory for eligible taxpayers, ensuring detailed annual reporting, tax reconciliation, and compliance verification by auditors.Discover how our tech solutions can transform your business. Explore our features and take your business to new heights.
Overview
Filing Annual Return in GST-9 & GST-9C in India
In India, the Goods and Services Tax (GST) law mandates taxpayers to file annual returns to summarize their yearly transactions. The primary forms used are GST-9 and GST-9C.
GST-9 is the annual return form that every registered taxpayer must file. It includes details of outward and inward supplies made during the financial year, taxes paid, input tax credit claimed, and other relevant information. Filing GST-9 helps the government cross-verify the monthly or quarterly returns filed throughout the year. The form is simple and primarily for taxpayers who have filed regular returns under GST.
GST-9C is a reconciliation statement that must be filed by taxpayers whose turnover exceeds ₹5 crores during the financial year. It requires a certified auditor’s report, ensuring that the annual return in GST-9 matches the taxpayer’s audited financial statements. This adds a layer of verification and accuracy.
The due date for filing both GST-9 and GST-9C is generally December 31st following the end of the financial year. Timely and accurate filing helps avoid penalties and ensures compliance under GST law. Overall, these annual returns play a crucial role in maintaining transparency and accountability in the GST system in India.
Eligibility
In India, the eligibility for filing GST Annual Return Form 9 and Reconciliation Statement Form 9C is mainly for registered taxpayers under GST whose aggregate turnover exceeds ₹2 crores during the financial year. Form 9 is the annual return to be filed by all regular taxpayers, while Form 9C, which is a reconciliation statement, is mandatory only for taxpayers whose accounts are audited under any law. This includes companies, LLPs, and other entities required to get their accounts audited. Composition scheme taxpayers, casual taxpayers, and those with turnover below the threshold are generally exempt from filing Form 9 and 9C.
Far far away, behind the word mountains, far from the countries Vokalia and Consonantia, there live the blind texts. Separated they live in Bookmarksgrove right at the coast
Far far away, behind the word mountains, far from the countries Vokalia and Consonantia, there live the blind texts. Separated they live in Bookmarksgrove right at the coast
Far far away, behind the word mountains, far from the countries Vokalia and Consonantia, there live the blind texts. Separated they live in Bookmarksgrove right at the coast