GSTR 9 and GSTR 9C - Comparative and Quick view

GSTR 9 and GSTR 9C are two annual return forms that need to be filed by GST registered entities. Both forms have different requirements and serve different purposes. In this article, we will compare GSTR 9 and GSTR 9C, and provide a quick view of both forms.

What is GSTR 9?

GSTR 9 is an annual return form that needs to be filed by all GST registered entities. It is a summary of all the transactions made during the financial year. The form is divided into six parts, and it contains various details such as:

1. Details of Outward and Inward supplies

2. Details of Input Tax Credit

3. Details of tax paid and payable

4. Details of HSN summary of outward and inward supplies

5. Details of advances, inward and outward supplies, and taxes paid

6. Any other additional information

GSTR 9 needs to be filed by the 31st of December of the subsequent financial year. It is mandatory for all GST registered entities, except for Input Service Distributors, Casual Taxable Persons, Non-Resident Taxable Persons, and persons paying TDS under section 51 of the CGST Act.

What is GSTR 9C?

GSTR 9C is an audit form that needs to be filed along with GSTR 9. It is a reconciliation statement that needs to be prepared by a Chartered Accountant or a Cost Accountant. GSTR 9C contains various details such as:

1. Reconciliation of turnover declared in the audited financial statements with the turnover declared in the GSTR 9

2. Reconciliation of tax paid and payable as per the audited financial statements with the tax paid and payable as per GSTR 9

3. Reconciliation of Input Tax Credit claimed in the audited financial statements with the Input Tax Credit claimed in GSTR 9

4. Audit findings, if any

GSTR 9C needs to be filed by the 31st of December of the subsequent financial year. It is mandatory for all GST registered entities whose turnover exceeds Rs. 2 crores in a financial year.

Comparative view of GSTR 9 and GSTR 9C

Particulars GSTR 9 GSTR 9C Form type

An annual return form that needs to be filed by all GST registered entities. An audit form that needs to be filed along with GSTR 9. Filing due date 31st December of the subsequent financial year 31st December of the subsequent financial year.

Mandatory for all GST registered entities?

Yes, except for certain entities such as Input Service Distributors, Casual Taxable Persons, Non-Resident Taxable Persons, and persons paying TDS under section 51 of the CGST Act. Yes, for all GST registered entities whose turnover exceeds Rs. 2 crores in a financial year

Prepared by

The registered person or a person authorized by him/her

A Chartered Accountant or a Cost Accountant

Details required

Details of Outward and Inward supplies, Input Tax Credit, tax paid and payable, HSN summary of outward and inward supplies, advances, inward and outward supplies, and taxes paid, and any other additional information

Reconciliation of turnover declared in the audited financial statements with the turnover declared in the GSTR 9, reconciliation of tax paid and payable as per the audited financial statements with the tax paid and payable as per GSTR 9, reconciliation of Input Tax Credit claimed in the audited financial statements with the Input Tax Credit claimed in GSTR 9, and audit findings, if any

Quick view of GSTR 9 and GSTR 9C

GSTR 9

1. Annual return form

2. Contains details of all transactions made during the financial year

3. Needs to be filed by all GST registered entities except for certain entities

4. Mandatory filing due date is 31st December of the subsequent financial year

5. Prepared by the registered person or a person authorized by him/her

GSTR 9C

1. Audit form that needs to be filed along with GSTR 9

2. Reconciliation statement prepared by a Chartered Accountant or a Cost Accountant

3. Contains details of reconciliation of turnover, tax paid and payable, and Input Tax Credit claimed

4. Mandatory filing due date is 31st December of the subsequent financial year

5. Needs to be filed by all GST registered entities whose turnover exceeds Rs. 2 crores in a financial year

Conclusion

GSTR 9 and GSTR 9C are two important annual return forms that need to be filed by GST registered entities. While GSTR 9 is a summary of all transactions made during the financial year, GSTR 9C is a reconciliation statement that needs to be prepared by a Chartered Accountant or a Cost Accountant. It is important for all GST registered entities to file these forms on time and comply with the GST regulations.