It’s that time of year! GSTR 9 (Annual Return) and GSTR 9C (Reconciliation Statement) are live on the GST portal, and here’s a quick breakdown to help you stay compliant.
🗓 Filing Deadline: December 31, 2024
Who Needs to File?
👉 GSTR 9: Mandatory for registered taxpayers with an aggregate turnover above ₹2 crore.
👉 GSTR 9C: Required if your aggregate turnover is above ₹5 crore.
👉 For turnovers up to ₹2 crore, filing is optional for both forms.
👉 For turnovers between ₹2 crore and ₹5 crore, GSTR 9 is mandatory while GSTR 9C is optional.
Key Updates to Keep in Mind:
- Notification No. 14 (July 10) provides filing details and requirements.
- Auto-Drafting: GSTR 9 auto-populates with GSTR 3B and GSTR 2B details—be sure to verify against your books!
- GSTR 9C: No more CA certification needed; taxpayers can sign their own forms!
Mark your calendars, verify your data, and stay ahead of the deadline!