GSTR-9C is mandatory only for registered taxpayers with an aggregate annual turnover exceeding ₹5 crore. It is a reconciliation statement between the GSTR-9 annual return and audited financial statements, which must be self-certified, not certified by a Chartered Accountant.
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.
These provisions apply to the filing of GSTR-9; however, no specific requirements apply to GSTR-9C, and hence, the filing of GSTR-9 and non-filing of GSTR-9C could be subject to a general penalty of Rs 25,000.
Scope of the Scheme: The waiver scheme applies to only those taxpayers who have failed to file GSTR-9 earlier. To avail benefits of this scheme, taxpayers have to file the return before March 31, 2025. Already Paid Late Fees: No refunds will be issued if the taxpayer has already filed the return with late payment fees.
As per Rule 80 of the CGST Rules, 2017, every registered person liable to file Annual Return for every financial year is required to file the same on or before the 31st December of next financial year.
Failing to file GSTR-9 on time results in financial penalties of ₹200 per day, capped at 0.25% of annual turnover, disrupting cash flow for businesses. Non-compliance with GSTR-9 can lead to denial of input tax credits, audits, legal risks, and even suspension or cancellation of GST registration.
If you don't file an annual report, your business risks late fees, suspension of its right to do business, and eventually administrative dissolution (being shut down by the state), which can lead to losing your liability protection, making it hard to get financing or contracts, and having your business name taken by others. Reinstatement is often possible but involves back payments, penalties, and extra paperwork, according to NCH inc..
Finance Act 2021 moved a proposal to eliminate the certification by CA for GSTR-9C. This proposal was accepted in the Union Budget 2021 and was applied from Annual Return of FY 2020-21. As per this change, Taxpayers can now 'Self-certify' the reconciliation statement in the GSTR 9C Form.
GSTR-9 annual return filling is mandatory for every taxpayer registered under GST. Certain categories are exempted from this filing, including casual taxpayers, non-resident taxpayers, Input Service Distributors, and those who deduct or collect tax under Section 51 or Section 52.
Example 1 – If GSTR 9 is furnished on 25th December 2025 (due date 31st December 2025) and GSTR 9C is furnished on 7th January 2026. Then no late fees is levied for GSTR 9 as it is furnished within due date. However late fees for 7 days (delay in furnishing of GSTR 9C) is auto populated in GSTR 9C.
GSTR-9C Turnover Limit
If you (a regular taxpayer) does not file a return for a continuous period of six months, then the GST Officer may cancel the GST registration of such person. Before cancellation, the officer will issue a Notice seeking your clarification.
What is the penalty for the wrong filing of GSTR-9C? There's no specific late fee provision for GSTR-9C. It is subject to a general penalty of Rs. 25,000.
Annual Return
All companies, including inactive and dormant companies, are required to file annual returns. As long as a company's status is "live", it must file its annual return with ACRA even if IRAS has exempted the company from filing its income tax return. Read our guide on filing Annual Returns.
GST is leviable only if aggregate turnover is more than 20 lacs. (Rs. 10 lacs in 11 special category States). For computing aggregate supplies turnover of all supplies made by you would be added.
The following category of tax persons are exempted from payment of 1% of GST in Cash 1. Registered taxpayers who have paid income tax above Rs 1.00 in Income Tax during the last two years continuously 2. Taxpayers who have zero-rated supplies without payment of duty and claimed refund of more than Rs 1.00 lac 3.
What is the late fee or penalty for the late filing of GSTR-9C? According to section 125 of the CGST and SGST Acts of 2017, there is a general penalty of Rs. 25,000 for non-compliance.
To provide relief, the Government issued Notification No. 08/2025-Central Tax, dated 23rd January 2025, waiving excess late fees for delayed GSTR-9C filing for financial years up to FY 2022-23, provided it is filed by 31st March 2025.
Yes, every GST-registered taxpayer having annual turnover of more than Rs.2 Crore must file GSTR-9 annually. Who is required to file GSTR 9? Yes, every GST-registered taxpayer whose annual turnover is more than Rs.2 crore must file GSTR-9 annually. It is optional for the rest of the taxpayers.
Richest Chartered Accountants in India. 1. Kumar Mangalam Birla (Net Worth: $19 billion) 2.
As per the decision of the Council taken at its 379th Meeting held on 17th -18th December, 2018, UDIN was made compulsory for all practicing Chartered Accountants in phased manner i.e on all Certificates wef 1st Feb., and from 1st April, 2019 onwards on GST & Tax Audit Reports.
GSTR-9C was introduced on September 13, 2018. The form is designed particularly for taxpayers with an annual turnover exceeding two crores.
The total number of companies fined for filing accounts more than six months late was 11,463 in 2023-24 compared to just 3,418 in 2019-20. Businesses that file accounts less than one month late will incur a penalty of £150, rising steeply to £1,500 where accounts are filed more than six months late.
According to section 705(1) of the Companies' Act, if a Company neglects to submit the Annual Return or submits one that does not comply with section 705(3), both the Company and any officer in default are subject to conviction for an offense, with each liable to a fine not exceeding two hundred thousand shillings.
If you don't file an annual report, your business risks late fees, suspension of its right to do business, and eventually administrative dissolution (being shut down by the state), which can lead to losing your liability protection, making it hard to get financing or contracts, and having your business name taken by others. Reinstatement is often possible but involves back payments, penalties, and extra paperwork, according to NCH inc..