GSTR-9C (Reconciliation Statement) is mandatory for registered taxpayers whose annual aggregate turnover exceeds ₹5 crore in a financial year. This threshold is calculated on a PAN-wide basis across all GSTINs. It is not required for taxpayers with a turnover of ₹5 crore or less.
Key Takeaways. The GST registration turnover limit is ₹40 lakhs for goods, ₹20 lakhs for services, and ₹10 lakhs for special category states.
Initially, GSTR-9C was required if aggregate turnover exceeded ₹2 crore. Later, the limit was revised to ₹5 crore. At present, taxpayers with aggregate turnover up to ₹5 crore are exempted from filing GSTR-9C.
Every registered person, whose aggregate turnover exceed Rs. 2 crores, other than the following registered persons, shall electronically furnish an annual return in Form GSTR 9 on the common portal for every financial year: 1 An Input Service Distributor (ISD) 2.
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.
Businesses with annual sales of Rs. 40 lakhs or more for goods, and Rs. 20 lakhs or more for services, must register for GST. If the turnover exceeds the allowed threshold, there is a penalty for failing to register under GST.
If you have exceeded the threshold you must register for GST. You reach the GST turnover threshold if either: your current GST turnover – your turnover for the current month and the previous 11 months – totals $75,000 or more ($150,000 or more for non-profit organisations)
GSTR-9C turnover limit
5 crore in a financial year. This requirement applies to regular taxpayers registered under GST. If a taxpayer's turnover crosses Rs. 5 crore, filing GSTR-9C along with GSTR-9 becomes mandatory.
Aggregated turnover is your business turnover plus the annual turnover of any connected entities or affiliated entities. This ensures businesses can't artificially split income across multiple entities to fall under the threshold.
Yes, HSN code is mandatory in GSTR 9 under certain conditions. From the financial year 2021-22 onwards, it's mandatory to report the HSN Summary for Outward Supplies (your sales) in Table 17 of GSTR-9. Taxpayers with a turnover above Rs. 5 crores must report HSN codes at a 6-digit level.
Failing to file the return attracts late fees, which is ₹200 per day or a maximum of 0.5% of the turnover. In January 2025, the Central Board of Indirect Taxes and Customs (CBIC) announced relaxation in GSTR–9C via Notification No. 8/2025.
GSTR 9 is an annual return that GST-registered businesses must file, detailing their financial transactions. GSTR 9C is a reconciliation statement, mandatory for businesses with a turnover exceeding Rs. 2 crores, ensuring consistency between audited financial statements and GSTR 9.
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.
The tax under section 44AD of the Income Tax Act is calculated at 8% of the total gross turnover (or 6% for digital transactions) provided that the annual turnover is below Rs. 2 crores (Rs. 3 crores if 95% of receipts are through online modes).
Aggregated annual turnover is the total value of all taxable supplies, exempt supplies, exports, and inter-state supplies made by a business in a financial year, excluding GST. It is a critical measure for determining GST compliance and eligibility for various GST schemes.
This waiver applies to registered persons who failed to submit the required reconciliation statement (FORM GSTR-9C) along with the annual return but submit it before March 31, 2025.
Eligible Turnover in a month means the dollar difference between Total Turnover and the Threshold Amount (i.e. Total Turnover – Threshold Amount), if Total Turnover is greater than the Threshold Amount.
Qualifying turnover is the total amount a business receives during a year from carrying on its business activities. The following amounts are excluded from qualifying turnover, when calculating the R1 million cap: Any amount received from the sale of an asset will not be included in the turnover of the business.
Who is required to file GSTR 9C? Every registered person under GST whose turnover during a financial year exceeds the prescribed limit of Rs. 5 crore must file a self-certified reconciliation statement in Form GSTR-9C. This statement must be filed by every GST-registered taxpayer, i.e. every GSTIN.
The GST limit for composition schemes in India is Rs. 1.5 crore turnover per annum. Composition schemes are voluntary schemes available for small businesses with annual turnovers up to Rs. 1.5 crore who can opt for fixed tax rates instead of regular GST rates.
Applicability Criteria for GSTR-9 Based on Turnover Limits
This advantage reduces the compliance burden on small businesses. Turnover between ₹2 crore and ₹5 crores: Filing GSTR-9 is mandatory for taxpayers that have an annual turnover exceeding ₹2 crores but not crossing ₹5 crores.
What is the Minimum Turnover Limit for GST Registration? Businesses are required to register for GST and pay tax on their annual turnover if their annual revenue exceeds Rs. 40 lakhs in the case of goods supplied and Rs. 20 lakhs for the supply of services.
You must register for GST if your overseas business has a GST turnover of A$75,000 or more from sales connected with Australia and made in the course of your business. You may not need to register for GST if the only sales you make are made through an electronic distribution platform.
GST Turnover Limit for Goods Suppliers
If you are supplying goods only, then in normal states the gst threshold limit for registration is ₹ 40 lakh per year. In special category states the limit is typically ₹ 20 lakh.