How to Prepare GSTR 9C on the GST Portal?
The GSTR 9C is a reconciliation statement that taxpayers have to self-certify. It reconciles GSTR 9 with audited financial statements. Registered taxpayers under the GST have to file the GSTR 9C if their aggregate annual turnover is more than Rs 5 Cr. This guide helps you prepare and file the GSTR 9C on the GST portal. Before preparing GSTR 9C, taxpayers have to file GSTR 1, GSTR 3B, and GSTR 9.
Step-By-Step Guide to File GSTR 9C
Step 1
First of all, log in to the GST portal and go to the services tab click on “annual returns” then download the GSTR 9C offline tool to prepare the return offline. Before downloading the return, you will be asked to select the financial year.
Open the downloaded file fill in the relevant data and preview the page before generating a PDF version of it. Now generate a JSON file to upload it on the GST portal online.
Step 2
When you have generated it in a JSON file, again go to the GST portal and follow the same procedure. You now have two options, to download GSTR 9C on the portal, click on the “prepare offline” tab, and select to upload the returns that you have prepared offline.
Taxpayers can choose to make changes or edits before proceeding to file. Once submitted, no changes or edits could be made on the online portal therefore be careful while filing the annual returns.
What Details to be Filed in GSTR 9C?
- Cash flow
- Copy of audited accounts
- Copy of annual reports
- Profit and loss account
- Copy of balance sheet
- Annual audit report carried out by another person under a statute
The return consists of two parts the first one requires business information while the second one requires audit certification.
Part A of the GSTR 9C records
- Basic details (GSTIN, Fiscal year, registered person’s legal name and trade name)
- Reconciliation of turnover
- Reconciliation of taxes paid
- Reconciliation of input tax credits
- Additional liability due to non-reconciliation
Part B of the GSTR 9C records
- Self-certification and certification where form GSTR 9C is drawn by those who carried out the audit
Filing GSTR 9C is quite a cumbersome task and takes lots of time of the taxpayers. To save your time and make the filing easier, reach out to TaxDunia as we offer personalized solutions to the unique needs of our clients.
