How to Prepare GSTR-9 & 9C: A Full Working Checklist for FY 2024-25

Filing GST annual return (GSTR-9) and reconciliation statement (GSTR-9C) always looks cumbersome for the financial year, as annual GST compliance may look tedious at times. Therefore, this guide will not only take you through that step-by-step process but will also provide a practical checklist of all of that and include links to official documentation for your ease of reference, so you can stay on top of compliance regulations.

What are the GSTR-9 and GSTR-9C forms?

GSTR-9 – Annual Return

In essence, this serves as the summary of your GST data, such as outward supplies, inward supplies, ITC claimed, reversals, tax paid, and adjustments, for the financial year, which is then presented in a consolidated GST return. You can find it covered in the manual of the portal.

GSTR-9C – Reconciliation Statement

This form is required when your aggregate turnover exceeds the limit of ₹ 5 crore (based on threshold limit, which is currently ₹ 5 crore) and you have to provide a reconciliation of your annual return with the audited financials.

Key bullets points:

Structured Step-by-Step Method for Completing GSTR-9

Step 1

Gather the Required Returns & Records

Step 2

Reconcile Outward Supply

Step 3

Reconcile Input Tax Credit (ITC)

Step 4

Examine Tax Liability & Payments

Step 5

Complete GSTR-9 Online

Important tables are as follows:

Step 6: Preview, Compute & File

Structured Step-by-Step Method for Completing GSTR-9C

When it is time to file GSTR-9C, here is the procedure to follow:

Step 1

Download Financial Statements : Audited P&L, Balance Sheet, and Trial Balance as well as the Annual accounts as per Companies Act, or audit requirement applicable for your entity.

Step 2

Turnover Reconciliation :  Turnover based on books vs GSTR-1 vs GSTR-3B vs e-way bills (if applicable) and identifying differences and the reasons for each difference (for example, exports, exempt supplies, etc.)

Step 3

ITC Reconciliation : ITC based on books vs auto-data (GSTR-2B) and consider any blocked credits, reversals and RCM credit (if applicable) differences and provide a report or reason for any unreconciled differences

Step 4

Taxes Paid Reconciliation : Also, compare the tax liability shown in GSTR-9 with the actual tax payments, and adjust any pending or late-paid liability.

Step 5

Part-A for GSTR-9C (Reconciliation Statement) :  In addition, Part A would include turnover, ITC, taxes paid, and any non-reconciled items, accompanied by the reasons for such differences.

Step 6

Certification (Part-B) :  To the extent applicable (as per turnover and audit requirement) to be certified by CA (Chartered Accountant) or CMA (Cost Accountant) attached with audited accounts (and audit report) as well.

GSTR-9 & GSTR-9C: Complete Filing Checklist :

Documents Required

Important Reconciliations

Pre‐Filing Verification

Common Mistakes

Why Choose BookMyAccountant for Your Filing?

If you want a stress-free and accurate filing experience, consider Book My Accountant.

Email or call us today and we will schedule your GST return review and you will never worry about GST compliance again, to be done professionally.

Disclaimer

This Blog provides information only and does not provide any professional tax or legal advice. Although we have made an effort to ensure the material is factually accurate as of the original date of publication, the GST legislation, rule and thresholds can change. Taxpayers should obtain updated provisions from the CBIC official portal, or enlist the services of a qualified tax professional. BookMyAccountant assumes no liability, and is not responsible for any errors or omissions in the information or for any actions taken by any party in reliance upon information contained in this Blog.