𝗖𝗕𝗜𝗖 𝗖𝗹𝗮𝗿𝗶𝗳𝗶𝗲𝘀 𝗟𝗮𝘁𝗲 𝗙𝗲𝗲 𝗼𝗻 𝗙𝗢𝗥𝗠 𝗚𝗦𝗧𝗥-𝟵𝗖 𝗙𝗶𝗹𝗶𝗻𝗴: 𝗪𝗮𝗶𝘃𝗲𝗿 𝗔𝘃𝗮𝗶𝗹𝗮𝗯𝗹𝗲 𝗨𝗻𝘁𝗶𝗹 𝗠𝗮𝗿𝗰𝗵 𝟯𝟭, 𝟮𝟬𝟮𝟱 The Central Board of Indirect Taxes and Customs (CBIC) has issued Circular No. 246/03/2025-GST clarifying the applicability of late fees under Section 47 of the CGST Act, 2017, for delays in furnishing FORM GSTR-9C (Reconciliation Statement) along with FORM GSTR-9 (Annual Return). [img:tZAqwyRZI]

𝗞𝗲𝘆 𝗛𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁𝘀 𝗼𝗳 𝘁𝗵𝗲 𝗖𝗶𝗿𝗰𝘂𝗹𝗮𝗿 ✅ 𝗠𝗮𝗻𝗱𝗮𝘁𝗼𝗿𝘆 𝗙𝗶𝗹𝗶𝗻𝗴: Taxpayers with an aggregate turnover exceeding ₹5 crore must furnish FORM GSTR-9C along with FORM GSTR-9. Failure to do so renders the annual return incomplete. ✅ 𝗟𝗮𝘁𝗲 𝗙𝗲𝗲 𝗔𝗽𝗽𝗹𝗶𝗰𝗮𝗯𝗶𝗹𝗶𝘁𝘆: Late fees under Section 47(2) of CGST Act apply from the due date of FORM GSTR-9 until the complete submission of both GSTR-9 and GSTR-9C.

✅ 𝗪𝗮𝗶𝘃𝗲𝗿 𝗳𝗼𝗿 𝗣𝗮𝘀𝘁 𝗬𝗲𝗮𝗿𝘀: For financial years up to FY 2022-23, excess late fees beyond the standard rate will be waived if GSTR-9C is filed by March 31, 2025. ✅ 𝗡𝗼 𝗥𝗲𝗳𝘂𝗻𝗱 𝗣𝗼𝗹𝗶𝗰𝘆: Any late fees already paid before this notification will not be refunded.

𝗪𝗵𝗮𝘁 𝗧𝗵𝗶𝘀 𝗠𝗲𝗮𝗻𝘀 𝗳𝗼𝗿 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀𝗲𝘀 Ensure timely filing of both GSTR-9 & GSTR-9C to avoid penalties. Take advantage of the waiver by submitting pending GSTR-9C filings before March 31, 2025. Stay compliant with GST return obligations to avoid unnecessary financial burden. #GST #GSTR9C #TaxUpdate #CBIC #Finance