gstr 9c late fee waiver till march 2025

Big Relief for Taxpayers: CBIC Waives Late Fees for GSTR-9C

GST Updates

The CBIC issued Circular No. 246/03/2025-GST on January 30, 2025, clarifying the late fees for delays in submitting the reconciliation statement in FORM GSTR-9C. The circular addresses stakeholder concerns about late fees under section 47 of the CGST Act, 2017.

Download Updated GSTR-9C Format in Excel & PDF

Key Points of the Circular:

  1. Background and Legal Provisions:
    • Registered persons who needed to get their accounts audited furnished the annual return in FORM GSTR-9, along with a copy of the audited annual accounts and a reconciliation statement in FORM GSTR-9C, before August 1, 2021.
    • Starting August 1, 2021, the authorities omitted the requirement for auditing accounts, and registered persons with an aggregate turnover exceeding five crore rupees must furnish a self-certified reconciliation statement in FORM GSTR-9C along with the annual return in FORM GSTR-9.
  2. Clarification on Late Fee:
    • The circular clarifies that the annual return under section 44 of the CGST Act is considered complete only when both FORM GSTR-9 and FORM GSTR-9C (if required) are furnished.
    • If you must furnish FORM GSTR-9C but fail to submit it along with FORM GSTR-9, the authorities will deem the annual return incomplete, and a late fee under section 47(2) of the CGST Act will apply.
    • The late fee is calculated from the due date of furnishing the annual return until the date of furnishing the complete return, including both FORM GSTR-9 and FORM GSTR-9C.
  3. Waiver of Late Fee:
    • The circular also states that the authorities have waived the late fee for delayed filing of the complete annual return for any financial year up to FY 2022-23, provided you furnish the reconciliation statement in FORM GSTR-9C on or before March 31, 2025.
    • No additional late fee will be payable for delayed furnishing of FORM GSTR-9C beyond the late fee payable up to the date of furnishing FORM GSTR-9 for the said financial year.

Conclusion:

This circular provides much-needed clarity on the applicability of late fees for delays in furnishing FORM GSTR-9C. By outlining the conditions under which late fees are applicable and providing a waiver for certain delays, the CBIC aims to ensure uniformity in the implementation of GST provisions across the country. Taxpayers are encouraged to comply with the requirements to avoid any penalties and ensure smooth GST compliance.

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