With the implementation of Goods and Services Tax (GST) in India from July 1, 2017, there has been a paradigm shift in indirect taxation structure in India from origin-based tax to destination based tax. The professional have an opportunity as well as responsibility to assist the assessees in filing the statutory Form 9 and also in conducting the GST Audit.
In this regard I have prepared the comparison of the GSTR9 and GSTR9C for the better and quick understanding.
Comparative view of Form GSTR-9 and GSTR 9C
| Return in GSTR 9 | Statement in GSTR 9C | |
| 1 | GSTR 9 | GSTR 9C |
| 2 | form prescribed in terms of section 44 CGST Act read with Rule 80 | form prescribed in terms of Section 35(5) read with section 44 CGST Act and Rule 80 (3) |
| 3 | Annual Return | Part A – Reconciliation Statement
Part B – Certification |
| 4 | GSTR 9 form –six parts | Part A – Reconciliation Statement-five parts
Part B – Certificate-two parts |
| 5 | It is a report of a formal or official character giving information | Means the formal statement to be made under the provisions of the Act the veracity of which need an enquiry as to its correctness |
| 6 | Prescribed under a Statute | Prescribed under a Statute |
| 7 | To be filed by all registered persons | To be filed only if the aggregate turnover in a financial year exceeds Rs 2 Crores. |
| 8 | Digitally signed by the registered person | Digitally signed by the GST auditor (CA/CMA) |
| 9 | No threshold | Subject to threshold |
| 10 | Not required to be filed by viz., Casual Taxable Person, Non-Resident Taxable Person, Input Service Distributor, Unique Identification Number Holders, Online Information and Database Access Retrieval Service, Composition Dealers, persons required to deduct taxes under Section 51 and persons required to collect taxes under Section 52. | Not required to be filed by viz., Casual Taxable Person, Non-Resident Taxable Person, Input Service Distributor, Unique Identification Number Holders, Online Information and Database Access Retrieval Service, registered person whose aggregate turnover in a financial year not exceeds Rs2 Crores.,Composition Dealers, persons required to deduct taxes under Section 51 and persons required to collect taxes under Section 52. |
| 11 | No need to annex financials | Financials to be annexed |
| 12 | GSTR 9 is filled before the GSTR 9C | |
| 13 | A plain reading of the relevant provisions indicate that the said Annual Return in GSTR 9 and the Reconciliation Statement in GSTR 9C must be filed together. However, if one where to peruse the relevant form GSTR 9C there are certain tables which state … “turnover as declared in annual return” thereby indicating that GSTR 9C is dependent on GSTR 9. This anomaly can be addressed only on the basis of finalized annual return initialed and presented to the GST Auditor by the registered person. | |
| 14 | Due date is on or before 31st December of the subsequent financial year. For instance, for FY 2017-18, the due date for filing GSTR 9 is 31st December 2018. | |
| 15 | This return can only be filed once for a financial year. There is no option to revise this return. | |
| 16 | Late fees for not filing the return within the due date is Rs. 100 per day per act up to a maximum of an amount calculated at a quarter percent of the taxpayer turnover in the state or union territory. Thus it is Rs 100 under CGST & 100 under SGST; the total penalty is Rs 200 per day of default. There is no late fee on IGST. However, this fee cannot be more than 0.25% of total turnover in the respective state/union territory There is no specific penalty prescribed in the GST Law for not getting the accounts audited by a Chartered Accountant or a Cost Accountant. Therefore, in terms of Section 125 of CGST Act, 2017, he shall be subjected to penalty up to Rs 25,000/-. | |
(Mr. Sandeep Rawat has vast experience & knowledge in dealing with Direct and Indirect Taxation. He is providing his expertise service as Managing Partner at SRT Consultancy & Service. He can be reached at sandeeprawatca@gmail.com)
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