Waiver of Late Fee for Filing FORM GSTR-9C

The Central Board of Indirect Taxes and Customs (CBIC) has announced a waiver of the late fee under Section 47 of the CGST Act for the filing of FORM GSTR-9C (Reconciliation Statement) for the financial years 2017-18 to 2022-23.

Key Points

  1. Applicability:

    • The waiver applies to registered persons who failed to file the reconciliation statement (FORM GSTR-9C) and the annual return (FORM GSTR-9) for the financial years 2017-18 to 2022-23 by the required deadline.

  2. Validity:

    • This waiver is valid if the reconciliation statement is submitted on or before March 31, 2025.

  3. No Refunds:

    • Refunds of late fees already paid are not permitted.

Conclusion

This waiver relieves taxpayers who missed the deadline for filing their reconciliation statements for the financial years 2017-18 to 2022-23. Taxpayers can avoid late fees by submitting the FORM GSTR-9C on or before March 31, 2025.

How TaxPower GST Helps in Filing GSTR 9 and GSTR 9C

TaxPower GST is a comprehensive GST software solution designed to simplify the process of filing annual returns and reconciliation statements for businesses. Here are some key features that make it an invaluable tool for GSTR 9 and GSTR 9C filing:

  1. Auto-Population of Data: The software auto-populates eligible Input Tax Credit (ITC) for domestic supplies from GSTR-2B to GSTR-9, matching of GSTR 2B with section 8A,  making the process more efficient and reducing the chances of errors.
  2. Data Import Options: TaxPower GST allows for easy import of data from various sources such as GSTN Portal, GSTR-1, GSTR-2A, GSTR-3B, and accounting software. This ensures that all necessary data is readily available for reconciliation and filing.
  3. Reconciliation Tools: The software provides robust reconciliation tools to match GST invoices for both inward and outward supplies. This helps in identifying discrepancies and ensuring accurate reporting.
  4. Tax Computation Sheet: TaxPower GST includes a tax computation sheet in GSTR-9, which helps businesses compute their tax liability accurately and pay any dues through DRC 03.
  5. Validation Utility: A validation utility is available to ensure that the data entered in GSTR-9 is accurate and complete before uploading and filing.
  6. Hassle-Free JSON Creation: The software simplifies the creation of JSON files for GSTR-9C and allows for easy upload with a Digital Signature Certificate.
  7. User-Friendly Interface: The tabular interface of TaxPower GST makes it easy to understand and navigate, even for users who are not very tech-savvy.
  8. Comprehensive Reports: Over 100 various reports are available in TaxPower GST to assist in the reconciliation and filing of annual returns. These reports provide detailed insights and help in making informed decisions.
  9. Step-by-Step Guidance: The software provides step-by-step guidance for preparing and filing GSTR-9 and GSTR-9C, ensuring that businesses can follow the process correctly and avoid common pitfalls.

By leveraging these features, TaxPower GST helps businesses streamline their GST compliance process, reduce errors, and ensure timely and accurate filing of annual returns and reconciliation statements.

Contact us to get the free trial.

Blog Ref: GSTN Government Site