• Notification Date: 26-02-2022
• Notification No: N/A

28 February is the Deadline for Filing GSTR 9

The Office of Central Board of Indirect Taxes and Customs (CBIC) has announced a new regulation on the official Twitter handle for those GST Taxpayers whose Aggregate Annual Turnover exceeds the limit of Rs.5 crore in the Financial Year 2020-21. The department has made it mandatory for the taxpayers to file their GSTR-9C Form before February 28, 2022, along with the self-certified Reconciliation statement.

GSTR-9C is a Reconciliation statement. It is the statement of reconciliation between the annual returns in GSTR-9 for a particular financial year and the figures as audited by the taxpayers in the financial statements for that year. According to the new regulation implemented by the GST department, the taxpayers whose annual turnover is greater than the limitation of Rs.5 crore will have to audit their accounts by a CA or Cost accountant. Till Financial Year 2018-19, the limit was Rs.2 crore. But it has been raised to Rs.5 crore in the current fiscal.

Form GSTR-9C comprises the gross as well as the taxable turnover as mentioned in the reconciliation statement between the figures and the consolidation of the GST returns in a particular financial year. If there is a difference between the two reports then it has to be reported along with the reason. The statement will be issued for every GSTIN. For a PAN, it might be necessary to file several GSTR-9C forms.