Filing GSTR-9 (Annual Return) and GSTR-9C (Reconciliation Statement & Audit Report) is mandatory for businesses registered under GST. As the financial year 2024-25 comes to an end, taxpayers must prepare for these filings to avoid penalties. Here’s a detailed guide on deadlines, audit requirements, and key considerations.

1. What is GSTR-9?

GSTR-9 is an annual return that consolidates all monthly/quarterly returns (GSTR-1, GSTR-3B) filed during the financial year. It includes:

• Details of outward & inward supplies.
• Input Tax Credit (ITC) availed and reversed.
• Tax paid (CGST, SGST, IGST, cess).

Who Must File GSTR-9?

• All regular taxpayers.
• Not required for:
  • Composition dealers (they file GSTR-4).
  • Casual taxable persons.
  • Input Service Distributors (ISD).
  • Non-resident taxable persons.

2. What is GSTR-9C?

GSTR-9C is a reconciliation statement between:

• The audited financial statements and
• The figures reported in GSTR-9.

It must be certified by a Chartered Accountant (CA) or Cost Accountant (CMA) if turnover exceeds the audit threshold.

Who Must File GSTR-9C?

• Businesses with an aggregate turnover exceeding ₹5 crore in FY 2024-25 must get their accounts audited and file GSTR-9C.

Exemptions (Not Required to File GSTR-9C):

• Businesses with turnover ≤ ₹5 crore(unless voluntarily filed).
• Composition dealers(they file GSTR-4A, not GSTR-9C).

3. Deadline for Filing GSTR-9 & GSTR-9C for FY 2024-25

The due date for filing GSTR-9 and GSTR-9C is typically December 31 of the following financial year.

• FY 2024-25 Deadline: December 31, 2025 (unless extended by the government).

4. Key Audit Requirements for GSTR-9C

If turnover exceeds ₹5 crore, businesses must:

1. Get accounts audited by a CA/CMA.
2. Reconcile GST returns (GSTR-1, GSTR-3B) with audited financials.
3. Certify & upload GSTR-9C on the GST portal.

Documents Required for Reconciliation:

• Audited financial statements (Balance Sheet, P&L).
• GSTR-1, GSTR-3B, and GSTR-2B (for ITC matching).
• Tax payment records.

5. Penalties for Late Filing

• Late fee: ₹200 per day (₹100 CGST + ₹100 SGST) up to 0.25% of turnover.
• Interest: 18% per annum on unpaid tax (if applicable).

6. Key Points to Remember

✔ Verify ITC claims – Ensure no discrepancies between books and GST returns.
✔ Reconcile supplies – Match GSTR-1 & GSTR-3B with invoices.
✔ File Nil returns – Even if no business activity, filing is mandatory.
✔ Check for amendments – Correct errors in previous returns before filing GSTR-9.

Conclusion

     Filing GSTR-9 & GSTR-9C correctly ensures compliance and avoids penalties. Businesses with turnover above ₹5 crore must undergo a GST audit and submit the reconciliation statement by December 31, 2025. Start preparing early to ensure accurate reporting and smooth filing.