GSTR 9 & 9C Filing for FY 24-25 Due Date is 31st December

Introduction

The GST system in India has streamlined the whole indirect taxation system since its inception in 2017. However, one of the major factors of GST compliance is annual return filing, as it ensures taxpayers disclose accurate details of their yearly business transactions, tax paid, and input tax credit (ITC) during the financial year.

At times, GST compliance seems confusing, particularly when distinguishing between GSTR 9(annual return) and GSTR 9C (reconciliation statement). Confusion about who needs to file GSTR 9 and GSTR 9C, their distinct purposes, audits, penalties, and costly errors arise. In fact, these challenges are quite overwhelming for businesses with higher turnover.

We are nearing the end of the financial year 2024-25. Still, there is a small event left out in the tax calendar of the year GSTR 9 and 9C, which play a crucial role in the financial year.

In this blog, let’s delve into GSTR 9 and GSTR 9C for the financial year 2024-25, outlining GSTR 9 and 9c difference, eligibility criteria, the filing process, and common mistakes to avoid.

What does GSTR 9 mean?

During every financial year, businesses registered under GST are required to file the GSTR-9 annual return. It encompasses comprehensive documents outlining inward and outward supplies and it is further categorized under different tax heads, including SGST, CGST, IGST, and HSN codes. The GSTR 9 annual return requires detailed information about monthly and quarterly returns, including GSTR-1, GSTR-2A, GSTR-2 B, and GSTR-3B, which are filed during the financial year 2024-25.

Although the process may seem complex, it facilitates reconciliation of data, ensuring 100% transparent disclosures.

This annual return includes all the critical information about the inward and outward supplies, taxes paid, tax credits claimed, and more. However, the deadline for submitting the GSTR-9 is 31st December 2025, unless it is extended by CBIC (Central Board of Indirect Taxes and Customs).

• GSTR 9 filing is mandatory for registered taxpayers with aggregate turnover exceeding 2 crores and optional for those with annual turnover up to 2 Cr.
• Exemptions apply to casual taxable persons, individuals paying tax under TCS/TDS under section 51/52, casual taxable persons, and non-resident taxable persons.

What does GSTR 9C mean?

GSTR 9C was designed for taxpayers with annual turnover more than 5 crores, and was initiated in 13th September 2018. It is a reconciliation statement that every registered taxpayers must file along with GSTR-9 annual return statement.

The main purpose of this reconciliation statement is to reconcile the numbers reported in audited annual financial statement and annual return filed in GSTR-9. Also, this reconciliation statement requires certification from Chartered Accountant (CA).

The main purpose of implementing GSTR 9C is to ensure transparency and accuracy. And, also to identify any sort of discrepancies which need to be addressed.

• GSTR-9C is mandatory for registered payers with aggregate turnover of 5 crore.
• Any sort of discrepancies in this reconciliation statement should be reported in GSTR-9C along with relevant explanations.
• GSTR-9C must be self-certified by the tax payer and filed through the GST portal.
• Along with audited accounts, even the GSTR-9 annual return should also be submitted.

Differences between GSTR 9 and GSTR 9C

Comparison pointer	GSTR 9	GSTR 9C
Category	Annual return	Reconciliation statement
Nature	A consolidation statement of all GST returns	Analytical statement on the GST returns and need to be self certified by the financial head
Applicability	All GST registered tax payers Turnover 2Cr- 5 Cr- Mandatory Turnover exceeding 5 Cr- Mandatory	All registered tax payers whose annual income exceeds 5crore.
Optional for	Businesses with annual turnover less than 2 crore.	Businesses with annual turnover less than 5 crore.
Deadline for filing	31st December for the next financial year It must be filed before GSTR 9C	31st December for the next financial year, either with or after filing GSTR-9 It must be filed after GSTR 9
Filing Process	Through GST portal	Through GST portal

How to file GSTR-9?

1. Login to GST portal(www.gst.gov.in)
2. Go through services> Returns> Annual Returns
3. Choose the financial year 2024-25
4. Later, download GSTR-9 summary, generated by the computer
5. Enter relevant details in each section, such as taxes paid, ITC, and inward and outward supplies.
6. Save the entered data, preview, and verify it using digital signature certification or electronic verification code.
7. After verifying, submit and download the acknowledgement

 How to file GSTR 9C?

1. Login into the GST portal.
2. Click on Annual Return
3. Download GSTR 9 form
4. Also, download GSTR 9C tables that are derived from GSTR 9
5. Proceed to file GST reconciliation statement. Engage a Chartered Accountant (CA) to audit and certify.
6. Upload GSTR-9C in JSON format on the GST portal

To simplify the entire GSTR 9C filing process, make use of GSTR 9C offline tool given in the GST portal. It enables you to validate the reconciliation statement offline prior to uploading it to the portal.

7. In addition, attach audited financial statements, balance sheet, cash flow statement, annual report copy.
8. Use Digital Signature Certificate (DSC)
9. Then review, verify, and submit the filing form

Penalties for Late Payment

1. GSTR 9- Rs 200/day, which is further classified into Rs 100 CGST and Rs 100 for SGST, i.e. 0.25% under each category of CGST and SGST of the total turnover.
2. GSTR 9C- A penalty of Rs 25,000 is applicable from GST authorities for the accounts not getting audited.

Return Format of GSTR 9C

GSTR 9C has basically two parts:

1. Report the tax paid reconciliation statement, turnover reported in the audited financial statements, and ITC reconciliation. In addition, include any tax liabilities identified by the CA/auditor.
2. Self-certification of correctness and no discrepancies by CA and Finance Head.

Return Format of GSTR 9

Consolidated details include:

• Turnover
• Tax paid and ITC details
• Late fees amount paid in the GST returns
• Transactions for previous financial year
• Any sort of amendments made from April to 30th November

In addition, following detailed should also be submitted:

• Demands and refunds
• HSN wise sales and purchase summary
• Late fees
• Goods sent on approving

Tips from Experts for GSTR 9 and 9C Filing

1. Do not wait till the end of the year. Start early and reconcile monthly financial data.
2. For improved accuracy, use GST reconciliation software.
3. Keep all the audited financial statements ready beforehand.
4. Hire a CA for self-certifying GSTR 9C documents.

Conclusion

For the financial year 2024-25, GST 9 and 9C are the crucial components of GST compliance and for ensuring transparency in financial statements reporting. However, businesses must timely focus on accurate filing to avoid penalties and also ensure smooth business operations.

While the GSTR 9 and 9C due date is 31st of December 2025, it’s advisable for the tax payers to start preparing reconciling statements and documents well ahead of time and seek CA or professional assistance when required.

Consider GSTR 9 and GST 9C as an opportunity to strengthen your business financial transparency and build long term stability under India’s GST regime.