GSTR-9 and GSTR-9C are two important annual returns that every registered taxpayer under GST has to file. They contain the consolidated summary of the monthly or quarterly GST returns filed by the taxpayer during a financial year. They are also used to assess the compliance level, tax liability, and input tax credit (ITC) claim of the taxpayer. However, there are some differences between GSTR-9 and GSTR-9C in terms of their applicability, format, content, and due date. In this blog, we will go through a quick comparison of GSTR-9 and GSTR-9C and highlight their key features.
What is GSTR-9?
GSTR-9 is the annual return that every registered taxpayer under GST has to file, except for the following categories:
- Casual taxable persons
- Non-resident taxable persons
- Input service distributors
- Persons liable to deduct tax at source (TDS)
- Persons liable to collect tax at source (TCS)
- Composition dealers
GSTR-9 contains the details of all the outward supplies, inward supplies, taxes paid, ITC availed, refunds claimed, and any other information related to the GST transactions of the taxpayer during a financial year. It also includes the reconciliation of the values declared in the monthly or quarterly GST returns with the audited annual financial statements of the taxpayer.
GSTR-9 has to be filed online on the GST portal or through a GST facilitation center. The due date for filing GSTR-9 is 31st December of the next financial year. For example, for the financial year 2020-21, the due date for filing GSTR-9 is 31st December 2021.
What is GSTR-9C?
GSTR-9C is the reconciliation statement that every registered taxpayer under GST whose turnover exceeds Rs. 5 crore in a financial year has to file along with GSTR-9. It is a form of audit report that certifies the accuracy and correctness of the GST returns filed by the taxpayer. It also identifies any discrepancies or errors in the GST returns and suggests corrective actions.
GSTR-9C has to be prepared and certified by a chartered accountant or a cost accountant who has audited the books of accounts of the taxpayer. It has two parts: Part A and Part B. Part A contains the reconciliation of the turnover, tax liability, and ITC as per the GST returns and the audited financial statements. Part B contains the certification by the auditor and a list of any additional tax liability arising from the reconciliation.
GSTR-9C has to be filed online on the GST portal along with GSTR-9. The due date for filing GSTR-9C is the same as GSTR-9, i.e., 31st December of the next financial year.
Comparison of GSTR-9 and GSTR-9C
The following table summarizes some of the key differences between GSTR-9 and GSTR-9C:
|Applicability||All registered taxpayers under GST except some specified categories||Registered taxpayers under GST whose turnover exceeds Rs. 5 crore in a financial year|
|Format||Annual return||Reconciliation statement|
|Content||Details of outward supplies, inward supplies, taxes paid, ITC availed, refunds claimed, etc.||Reconciliation of turnover, tax liability, and ITC as per GST returns and audited financial statements|
|Due date||31st December of the next financial year||Same as GSTR-9|
|Certification||Self-certified by the taxpayer||Certified by a chartered accountant or a cost accountant who has audited the books of accounts of the taxpayer|
|Not applicable to||Casual taxable persons, non-resident taxable persons, input service distributors, persons liable to deduct tax at source (TDS), persons liable to collect tax at source (TCS), composition dealers||Taxpayers whose turnover does not exceed Rs. 5 crore in a financial year|
|Penalty||Rs. 200 per day (Rs. 100 for CGST and Rs. 100 for SGST) subject to a maximum of 0.25% of the turnover in the state or union territory||Rs. 200 per day (Rs. 100 for CGST and Rs. 100 for SGST) subject to a maximum of 0.5% of the turnover in the state or union territory|
GSTR-9 and GSTR-9C are essential documents that reflect the GST compliance status of a taxpayer. They also help in ensuring transparency and accountability in the GST system. Therefore, every taxpayer should file them accurately and timely to avoid any penalties or notices from the tax authorities.