{"id":18613,"date":"2024-09-05T06:51:21","date_gmt":"2024-09-05T01:21:21","guid":{"rendered":"https:\/\/piceapp.com\/blogs\/?p=18613"},"modified":"2024-09-05T06:51:21","modified_gmt":"2024-09-05T01:21:21","slug":"difference-between-gstr-9-and-gstr-9c","status":"publish","type":"post","link":"https:\/\/piceapp.com\/blogs\/difference-between-gstr-9-and-gstr-9c\/","title":{"rendered":"Difference between GSTR 9 and GSTR 9C"},"content":{"rendered":"\n<div class=\"wp-block-group has-background\" style=\"background-color:#f2f5f9\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<h3 class=\"wp-block-heading\">Key Takeaways<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>GSTR-9<\/strong> is the annual return summarizing a taxpayer\u2019s inward and outward supplies, ITC, and tax liabilities for a financial year.<\/li>\n\n\n\n<li><strong>GSTR-9C<\/strong> is a reconciliation statement comparing GSTR-9 with audited financial statements, mandatory for taxpayers with a turnover exceeding \u20b92 crore.<\/li>\n\n\n\n<li>The <strong>due date<\/strong> for both GSTR-9 and GSTR-9C is 31st December of the year following the relevant financial year.<\/li>\n\n\n\n<li><strong>Exemptions<\/strong>: Taxpayers with turnover under \u20b92 crore and certain non-resident service providers are exempt from filing GSTR-9 and GSTR-9C.<\/li>\n\n\n\n<li><strong>Streamlined compliance<\/strong>: Understanding the differences between GSTR-9 and GSTR-9C helps taxpayers manage GST obligations effectively.<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<p>GSTR-9 and GSTR-9C are two important annual returns under the Goods and Services Tax regime. These forms ensure GST compliance and transparency in reporting. The Form GSTR-9 is the annual return, which contains details of inward and outward supplies, input tax credits and tax liabilities for a relevant<a href=\"https:\/\/www.collinsdictionary.com\/dictionary\/english\/financial-year#:~:text=A%20financial%20year%20is%20a,%5BBritish%2C%20business%5D\" target=\"_blank\" rel=\"noopener\"> financial year.<\/a><\/p>\n\n\n\n<p>On the other hand, taxpayers with a turnover greater than 2 crore must file Form GSTR-9C, a statement of reconciliation.<\/p>\n\n\n\n<p>In this blog, we will discuss the <strong>difference between GSTR-9 and GSTR-9C<\/strong>, their meanings, due dates and more.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What Is GSTR 9?<\/strong><\/h2>\n\n\n\n<p>Registered regular taxpayers, including Special Unit Zone (SEZ) units and developers, are required to submit Form GSTR-9 once a year. This return contains details of sales, purchases, optimized ITC data, claimed refund, etc.<\/p>\n\n\n\n<p>GSTR-9 is a combination of all the prevalent monthly or quarterly returns, such as GSTR-1, GSTR-3B, etc. that are filed in the present financial year. This return helps prevent data discrepancies and ensures accurate disclosures.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What Is GSTR 9C?<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2024\/09\/What-Is-GSTR-9C-1024x576.png\" alt=\"What Is GSTR 9C?\" class=\"wp-image-18912\" style=\"aspect-ratio:16\/9;object-fit:cover\" title=\"\" srcset=\"https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2024\/09\/What-Is-GSTR-9C-1024x576.png 1024w, https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2024\/09\/What-Is-GSTR-9C-300x169.png 300w, https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2024\/09\/What-Is-GSTR-9C-768x432.png 768w, https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2024\/09\/What-Is-GSTR-9C-1536x864.png 1536w, https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2024\/09\/What-Is-GSTR-9C.png 900w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption><\/figcaption><\/figure>\n\n\n\n<p>Form GSTR-9C is, precisely, a reconciliation statement of the yearly returns filed in GSTR-9 and the audited yearly financial statements of applicable taxpayers. It contains details of the taxable and aggregate turnover of taxpayers, adjusted with the consolidated numbers and the gap between them.<\/p>\n\n\n\n<p>GSTR-9C is an audit form. It is essentially filed to report any existing difference, after verifying GST returns in GSTR-9 and the audited statements of <a href=\"https:\/\/www.merriam-webster.com\/dictionary\/taxpayer#:~:text=paying%20a%20tax-,Legal%20Definition,taxpaying%20adjective\" target=\"_blank\" rel=\"noopener\">taxpayers<\/a> for a particular financial year.\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Contents and Format of GSTR-9<\/strong><\/h2>\n\n\n\n<p>The format of the GSTR-9 Form is as follows:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Part I: Details like company name, GST number, and financial year<\/li>\n\n\n\n<li>Part II: Details like inward supplies, such as purchases and outward supplies, such as sales, transfers, etc.<\/li>\n\n\n\n<li>Part III: Details about Input Tax Credit for the concerned financial year<\/li>\n\n\n\n<li>Part IV: Tax payment details recorded in the returns filed throughout the financial year<\/li>\n\n\n\n<li>Part V: Transaction details for the previous year, which is to be included in the returns for the following financial year.<\/li>\n\n\n\n<li>Part VI: Details like a declaration of refund, demand created, late fee payable, goods sent on an approval basis, etc.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Contents and Format of GSTR-9C<\/strong><\/h2>\n\n\n\n<p>Here are the content details and a detailed structure of GSTR-9C:<\/p>\n\n\n\n<p>Form GSTR-9C is divided into 2 sections: Part A (Reconciliation Statement) and Part B (Auditor Certification).<\/p>\n\n\n\n<p>Part A\u2013 Reconciliation Statement:<\/p>\n\n\n\n<p>The GSTR-9C reconciliation statement consists of 5 parts:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Basic Details<\/strong><\/li>\n<\/ol>\n\n\n\n<p>Part 1 is further divided into four parts:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Taxpayer\u2019s Goods and Services Tax Identification Number (GSTIN)<\/li>\n\n\n\n<li>Trade name and legal name of registered person<\/li>\n\n\n\n<li>Fiscal year<\/li>\n\n\n\n<li>Eligibility of the person for audit<\/li>\n<\/ul>\n\n\n\n<ol start=\"2\" class=\"wp-block-list\">\n<li><strong>Reconciliation of Turnover<\/strong><\/li>\n<\/ol>\n\n\n\n<p>Part 2\u2013 the Reconciliation of Turnover consists of the turnover that is recorded in Form GSTR-9 or the taxpayer&#8217;s<a href=\"https:\/\/www.investopedia.com\/terms\/f\/financial-statements.asp\" target=\"_blank\" rel=\"noopener\"> financial statement <\/a>(audited).<\/p>\n\n\n\n<ol start=\"3\" class=\"wp-block-list\">\n<li><strong>Reconciliation of Tax Paid<\/strong><\/li>\n<\/ol>\n\n\n\n<p>Part 3 contains the combination of the tax liability and outstanding amount, as per rates.<\/p>\n\n\n\n<ol start=\"4\" class=\"wp-block-list\">\n<li><strong>Reconciliation of Input Tax Credits<\/strong><\/li>\n<\/ol>\n\n\n\n<p>Part 4 is a reconciliation of the ITC amount in the annual return and net ITC according to the books of accounts.<\/p>\n\n\n\n<ol start=\"5\" class=\"wp-block-list\">\n<li><strong>Additional Tax Liability due to Non-Reconciliation<\/strong><\/li>\n<\/ol>\n\n\n\n<p>Part 5 comprises the recommendations that an auditor provides to a taxpayer concerning non-reconciliation of ITC.<\/p>\n\n\n\n<p>Part B\u2013 Auditor Certification<\/p>\n\n\n\n<p>Auditor certification is a certificate that a chartered accountant files after auditing Form GSTR-9. The two sections are:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Based on the audit by the auditor-in-charge<\/li>\n\n\n\n<li>Certification in cases where GSTR-9C was drawn out by the entrusted auditor<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Clause by Clause detailed analysis on GST Annual Return - GSTR - 9 &amp; 9C || CA (Adv) Bimal Jain\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/h35afSZMTiA?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Who Is Required to File GSTR 9?<\/strong><\/h2>\n\n\n\n<p>All taxpayers under GST need to file GSTR-9 Return, except these categories of person:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Casual taxpayers<\/li>\n\n\n\n<li>Non-resident taxpayers<\/li>\n\n\n\n<li>A person who is collecting TCS under Section 52 of the CGST Act<\/li>\n\n\n\n<li>A person who is paying TDS under Section 51 of the CGST Act<\/li>\n\n\n\n<li>Composition taxpayers<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Who Is Required to File GSTR 9C?<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2024\/09\/Who-Is-Required-to-File-GSTR-9C-1024x576.png\" alt=\"Who Is Required to File GSTR 9C?\" class=\"wp-image-18917\" style=\"aspect-ratio:16\/9;object-fit:cover\" title=\"\" srcset=\"https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2024\/09\/Who-Is-Required-to-File-GSTR-9C-1024x576.png 1024w, https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2024\/09\/Who-Is-Required-to-File-GSTR-9C-300x169.png 300w, https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2024\/09\/Who-Is-Required-to-File-GSTR-9C-768x432.png 768w, https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2024\/09\/Who-Is-Required-to-File-GSTR-9C-1536x864.png 1536w, https:\/\/piceapp.com\/blogs\/wp-content\/uploads\/2024\/09\/Who-Is-Required-to-File-GSTR-9C.png 900w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption><\/figcaption><\/figure>\n\n\n\n<p>All registered taxpayers who have a turnover of more than \u20b92 crores need to file Form GSTR-9C on the official GST portal. This includes both the parts of the Form\u2013 reconciliation statement and auditor certification.<\/p>\n\n\n\n<p>It is important to remember that although an auditor&#8217;s certification was necessary previously, self-certification by an <a href=\"https:\/\/www.lawinsider.com\/dictionary\/an-authorised-person\" target=\"_blank\" rel=\"noopener\">authorised person<\/a> is sufficient now.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What Is the GSTR 9 Due Date?<\/strong><\/h2>\n\n\n\n<p>For a financial year, the Form GSTR-9 submission deadline is 31st December of the year following the concerned FY. This implies, for the Financial year 2023-2024, you need to file GSTR-9 by 31st December 2024. A person will be liable to a maximum penalty of \u20b9200 daily if a registered person fails to file this form.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>GSTR 9 and GSTR 9C Exemptions<\/strong><\/h2>\n\n\n\n<p>\\As per the 53rd GST Council, taxpayers whose annual turnover is less than \u20b92 crore do not need to file GSTR-9 and GSTR-9C. These relaxations attempt to decrease the tax burden on small taxpayers and enable <a href=\"http:\/\/www.gvacorp.in\/seamless-compliance.php#:~:text=Compliance%20regulations%20exist%20to%20ensure,mainstream%20market%20and%20economic%20indicators.\" target=\"_blank\" rel=\"noopener\">seamless business compliance<\/a>.<\/p>\n\n\n\n<p>Additionally, if an individual is a non-resident and provides Online Information Database Access and Retrieval Services (OIDAR) to unregistered persons in India, he will be eligible for GSTR-9 and GSTR-9C exemptions.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Conclusion<\/strong><\/h2>\n\n\n\n<p>While Form GSTR-9 is a summary of a person\u2019s annual financial transactions, Form GSTR-9C functions as audit reporting. By being aware of the <strong>difference between GSTR-9 and GSTR-9C<\/strong>, taxpayers will be able to effectively manage the tax complexities, streamline the GST return filing process and adhere to GST regulations.<\/p>\n\n\n\n<p class=\"has-ast-global-color-4-background-color has-background\">\ud83d\udca1If you want to pay your GST with Credit Card, then download\u00a0<a href=\"https:\/\/play.google.com\/store\/apps\/details?id=one.pice.pice_business_loan&amp;_branch_match_id=1260478299341712556&amp;utm_source=website&amp;utm_campaign=homepage&amp;utm_medium=website&amp;_branch_referrer=H4sIAAAAAAAAA8soKSkottLXz8wryyxJ1SvITE5NLCjQS87P1S9PTcrIz00FAMR0ueciAAAA\" target=\"_blank\" rel=\"noreferrer noopener\">Pice Business Payment App<\/a>. Pice is the one stop app for paying all your business expenses.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">FAQs<\/h3>\n\n\n<div id=\"rank-math-faq\" class=\"rank-math-block\">\n<div class=\"rank-math-list \">\n<div id=\"faq-question-1725263366975\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><strong>Who is required to file GSTR-9?<\/strong><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>All registered regular taxpayers under GST, including SEZ units and developers, must file GSTR-9 annually. However, casual taxpayers, non-resident taxpayers, TDS\/TCS deductors, and composition scheme taxpayers are exempt from filing GSTR-9.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1725263377025\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><strong>What is the purpose of GSTR-9C?<\/strong><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>GSTR-9C is a reconciliation statement that compares the data in GSTR-9 with the audited financial statements of the taxpayer. It ensures that the reported GST turnover, tax paid, and ITC claimed align with the audited accounts, highlighting any discrepancies for correction.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1725263385290\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><strong>What happens if a taxpayer fails to file GSTR-9 by the due date?<\/strong><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>If a taxpayer fails to file GSTR-9 by the due date (31st December following the financial year), they may face a late fee of \u20b9200 per day (\u20b9100 under CGST and \u20b9100 under SGST), up to a maximum of 0.25% of the taxpayer&#8217;s turnover in the relevant state or union territory.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1725263391266\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><strong>Are there any penalties for incorrect filing of GSTR-9C?<\/strong><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>While there is no specific penalty for incorrect filing of GSTR-9C, discrepancies between GSTR-9 and audited financials can lead to scrutiny, additional tax liabilities, and interest or penalties under the GST law. Ensuring accurate data in both forms is crucial to avoid such issues.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-1725263396797\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><strong>Can GSTR-9 and GSTR-9C be revised after filing?<\/strong><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>Currently, GSTR-9 and GSTR-9C cannot be revised once filed. Taxpayers must ensure that all details are accurate before submission. Any discrepancies discovered after filing can be corrected in subsequent returns or addressed through the GST rectification process.<\/p>\n\n<\/div>\n<\/div>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Key Takeaways GSTR-9 and GSTR-9C are two important annual returns under the Goods and Services Tax regime. These forms ensure GST compliance and transparency in reporting. The Form GSTR-9 is the annual return, which contains details of inward and outward supplies, input tax credits and tax liabilities for a relevant financial year. On the other [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":18891,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-18613","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gst"],"_links":{"self":[{"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/posts\/18613","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/comments?post=18613"}],"version-history":[{"count":0,"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/posts\/18613\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/media\/18891"}],"wp:attachment":[{"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/media?parent=18613"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/categories?post=18613"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/piceapp.com\/blogs\/wp-json\/wp\/v2\/tags?post=18613"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}