GST Update! GSTN enables option to File Final Annual Return and Reconciliation Statement for F.Y. 2022-23

Goods and Services Tax (GST) enabled the option to file Final Annual Returns (GSTR 9) and Reconciliation Statement (GSTR-9C) on the Goods and Services Tax Portal (GST portal). The due date for filing returns and statement for Financial Year 2022-23 is 31.12.2023

Regular taxpayers enrolled for the Goods and Services Tax (GST) in India are required to submit GSTR-9, an annual return form. It aggregates information on each financial year’s claimed input tax credit (ITC), taxes paid, and outgoing and incoming supply details.

GSTR-9C is a reconciliation statement and certification form, which needs to be filed by taxpayers whose annual turnover exceeds a specified threshold.

Previously, the Chartered Accountant who conducted the Goods and Services Tax Audit had to prepare and certify the GSTR -9C.

However, it is no longer applicable from the  Financial year 2020-21. 

Now, the GSTR-9C has to be prepared and self certified by the taxpayer in the GST Portal along with copy of other documents such as Audited Financial Statements and Annual Returns (GSTR – 9).

STEPS TO FILE GSTR 9

1. Login to GST Portal
2. Navigate to Services > Returns > Annual Return
3. Select Financial Year > Search
4. Go to Annual Return GSTR 9 > Prepare Online / Prepare offline (as you prefer)
5. Answer a questionnaire to choose between a NIL return or an annual return with data 
6. Enter requisite or mandatory details in the Table
7. Preview the draft (pdf/ excel)
8. Proceed to file GSTR 9 after commuting liabilities and late fees (if any)

STEPS TO FILE GSTR 9C

1. Login to the GST Portal
2. Navigate to Services > Returns > Annual Return
3. Select Financial Year > Search
4. Download GSTR 9
5.  Download Form GSTR-9C Tables Derived from Form GSTR-9
6. Fill the form with auditor and submit the file

Any errors or omissions in the previously submitted GSTR-9 may be updated or corrected by the taxpayer in the return for the next fiscal year. The taxpayer must have an active GSTIN and have submitted all required forms, namely Forms GSTR-1/IFF and Form GSTR-3B, for the corresponding financial year prior to submitting the yearly returns.

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