What is GSTR-9C?
GSTR-9C is a reconciliation statement filed by every taxpayer whose turnover exceeds the prescribed limit of Rs.2 Crores. It should be audited by Chartered accountant or a cost accountant. It is basically a statement of reconciliation between –
It must be filed through GST portal or facilitation centers along with other documents such as annual return and copy of audited accounts.
Who should file GSTR-9C?
Every taxpayer who is having a turnover of more than Rs.2 crore in a financial year shall get his or her accounts audited by certified chartered accountant or by a cost accountant must file GSTR-9C except the following persons –
- Input service distributors
- Non-resident taxable persons
- Casual taxable persons
- E-commerce operator
- Tax payers using composition scheme(In this case, they need to file GSTR-9A)
- Persons paying TDS
- Taxpayers whose business turnover is less than Rs.2 crores
GSTR 9C Filing Due Dates 2020
GSTR 9C should be filed by taxpayers on or before 31st December. For example – In case taxpayer wants to file his or her annual return for FY 2019-20, taxpayer should file the same on or before 31st December 2020. Date may be extended sometimes by the government.
Penalty for Late GSTR-9C Filing
There is no such provision but it subject to a general penalty of Rs.25000.