Hello Everyone.Welcome back to Tax Destination. Today we will be discussing GSTR-9C. In our last blog, we discussed GSTR-9. So, first let us understand the difference between them.
Difference between Form GSTR-9 and Form GSTR-9C
Form GSTR-9 is required to be filed by every person registered as a normal taxpayer. However, certain classes of taxpayers may be exempted from filing Form GSTR-9 by way of Notifications issued by Government of India from time to time.
Form GSTR-9C is required to be filed by every registered person whose aggregate turnover is above a certain threshold during the financial year, as notified by way of Notifications issued by Government of India from time to time.
Such taxpayers are required to get their accounts audited by a Chartered Accountant or Cost Accountant and need to submit a copy of audited annual accounts and reconciliation statements.
Chartered Accountant/ Cost Accountant after verification and signing will pass on the signed JSON file to the taxpayer for uploading on the GST Portal (Auditor certificate is not relevant for FY 2020-21.). It is to be uploaded on the GST portal by the taxpayer, after verification, along with a copy of the documents like Balance Sheet, Income and Expenditure Account/ Profit and Loss Account and any other documents.
Who needs to file Form GSTR 9C?
Normal taxpayers (including SEZ unit and developer) with a turnover exceeding Rs. 5 crore in the previous financial year are required to file Form GSTR-9C on a self-certification basis. This change is applicable from FY 20-21 onwards.
Due date of filing GSTR-9C.
The due date to file GSTR-9C for FY 2021-22 is on or before 31 December 2023.
Following are the steps of filing Form GSTR-9C:
Taxpayer performs the following steps:
A. ON GST Portal: Login to the GST Portal to take the following actions.
a. Download Filed Form GSTR-9
b. Download Form GSTR-9C Tables Derived from Form GSTR-9 and send to the Auditor.
B. OFF GST Portal: Sends the downloaded files to the Auditor, along with audited financial statements and other relevant documents.
Auditor performs the following steps:
A. ON GST Portal:
a. Download latest version of GSTR-9C Offline Tool from the GST portal
b. Install emSigner.
B. OFF GST Portal: Prepare GSTR-9C statement offline using GSTR-9C Offline Tool by taking following actions.
a. Open the GSTR-9C Offline Utility Excel Worksheet
b. Add table-wise details in the Worksheet
c. Generate Preview PDF file to view Draft Form GSTR-9C
d. Generate JSON File and affix his/her digital signature (DSC)
e. Send the signed JSON File to the Taxpayer
Taxpayer performs the following steps:
A. ON GST Portal: Upload the generated JSON File received form Auditor on GST Portal after logging in.
Note: GSTR-9C Offline Utility .
In case of Error during upload. Downloads Error Report and send it to the Auditor for corrections. Auditor would make corrections, sign and resend the updated JSON for upload.
Before filing, in case the Auditor wants to add or edit data in the file that has been successfully processed without error. Download Processed GSTR-9C JSON File from GST Portal and sends it to the Auditor for corrections. Auditor would make corrections, sign and resend the updated JSON for upload.
B. ON GST Portal: File Form GSTR-9C and view/download the filed form form.
Penalty for non filing GSTR 9C
General penalty of INR 50,000 (INR 25,000 CGST and SGST each) will be applicable in case of failure to file GSTR-9C .
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