GSTR-9 and GSTR-9C are the annual return and audit forms, respectively, under the GST regime. These forms need to be filed by all taxpayers, except for those who are registered under the GST Composition Scheme or have opted for the GST exemption. Here are the details regarding the mandatory and optional tables for filing GSTR-9 and GSTR-9C for FY 2021-22:
GSTR-9 is an annual return that needs to be filed by regular taxpayers to provide a summary of their inward and outward supplies during the financial year. It is mandatory for all registered taxpayers to file GSTR-9, except for taxpayers who have opted for the Composition Scheme.
1. Basic Details - This table requires basic information like GSTIN, financial year, and the legal name of the taxpayer.
2. Details of Outward and Inward Supplies - This table requires the details of all outward supplies and inward supplies received during the financial year.
3. Details of Tax Paid - This table requires details of all tax paid, including GST, CGST, SGST/UTGST, and IGST.
4. Input Tax Credit (ITC) - This table requires details of all input tax credit availed and utilized during the financial year.
1. HSN Summary - This table requires the summary of HSN-wise details of outward supplies made during the financial year.
2. Late Fee Paid - This table requires details of any late fees paid for the filing of GSTR-9.
3. Additional Information - This table requires any additional information that the taxpayer wants to provide.
GSTR-9C is a reconciliation statement that needs to be filed by taxpayers whose aggregate turnover exceeds Rs. 2 crores in a financial year. The form is used to reconcile the taxpayer's annual returns (GSTR-9) with the audited financial statements.
1. Basic Details - This table requires basic information like GSTIN, financial year, and the legal name of the taxpayer.
2. Reconciliation of Turnover - This table requires a reconciliation of the taxable turnover as per the audited financial statements with the turnover as per the GSTR-9.
3. Reconciliation of Tax Paid - This table requires a reconciliation of the tax paid as per the audited financial statements with the tax paid as per the GSTR-9.
4. Certification - This table requires certification by a chartered accountant or a cost accountant.
1. Other Information - This table requires any other information that the taxpayer wants to provide.
It is important for taxpayers to file GSTR-9 and GSTR-9C accurately and within the due dates to avoid penalties and interest charges.
The penalties for non-filing or late filing of GSTR-9 and GSTR-9C are as follows:
1. Late fees: Rs. 100 per day per act, subject to a maximum of 0.25% of the taxpayer's turnover. The late fee will be applicable for each act of non-filing or late filing, i.e., GSTR-9, GSTR-9A, or GSTR-9C.
2. Interest: If the taxpayer has a tax liability, interest at the rate of 18% per annum will be applicable from the due date of filing GSTR-9 till the date of payment of tax.
1. Late fees: Rs. 200 per day, subject to a maximum of 0.5% of the taxpayer's turnover.
2. Interest: If the taxpayer has a tax liability, interest at the rate of 18% per annum will be applicable from the due date of filing GSTR-9C till the date of payment of tax.
It is important to note that the late fee and interest charges will be applicable for each month or part thereof for which GSTR-9 and GSTR-9C are not filed or filed after the due date. Therefore, it is important to file these returns on time to avoid penalties and interest charges.
Here are some frequently asked questions (FAQs) regarding GSTR-9 and GSTR-9C for FY 2021-22:
Who is required to file GSTR-9 and GSTR-9C for FY 2021-22?
All registered taxpayers, except for those who are registered under the GST Composition Scheme or have opted for the GST exemption, are required to file GSTR-9. Taxpayers whose aggregate turnover exceeds Rs. 2 crores in a financial year are required to file GSTR-9C.
What is the due date for filing GSTR-9 and GSTR-9C for FY 2021-22?
The due date for filing GSTR-9 and GSTR-9C for FY 2021-22 is 31st December 2023.
Are there any penalties for non-filing or late filing of GSTR-9 and GSTR-9C?
Yes, there are penalties for non-filing or late filing of GSTR-9 and GSTR-9C. The penalty for non-filing or late filing of GSTR-9 is Rs. 100 per day per act, subject to a maximum of 0.25% of the taxpayer's turnover. The penalty for non-filing or late filing of GSTR-9C is Rs. 200 per day, subject to a maximum of 0.5% of the taxpayer's turnover.
What are the mandatory tables in GSTR-9 and GSTR-9C for FY 2021-22?
The mandatory tables in GSTR-9 for FY 2021-22 are Basic Details, Details of Outward and Inward Supplies, Details of Tax Paid, and Input Tax Credit (ITC). The mandatory tables in GSTR-9C for FY 2021-22 are Basic Details, Reconciliation of Turnover, Reconciliation of Tax Paid, and Certification.
What are the optional tables in GSTR-9 and GSTR-9C for FY 2021-22?
The optional tables in GSTR-9 for FY 2021-22 are HSN Summary, Late Fee Paid, and Additional Information. The optional table in GSTR-9C for FY 2021-22 is Other Information.
Do taxpayers need to file GSTR-9C if their turnover is less than Rs. 2 crores?
No, taxpayers whose turnover is less than Rs. 2 crores are not required to file GSTR-9C. However, if the taxpayer's turnover exceeds Rs. 2 crores, they are required to file GSTR-9C even if their turnover for the current financial year is less than Rs. 2 crores.
Can taxpayers revise their GSTR-9 and GSTR-9C after filing?
No, taxpayers cannot revise their GSTR-9 and GSTR-9C after filing. It is important to ensure that the forms are filed accurately and within the due dates to avoid penalties and interest charges.
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