02 March 2023
THIS IS REGARDING NON-Filing of 9C FY 2017-18 annual return by me.
Some Figures: Total Turnover for FY 17-18 was 42.414.846.42 (4.24 crores) in this stock transfer to own branch was 22.379.236.28 (2.23 crores)
Gst Period Turnover was 26.835.263 (2.68 crores) in this Stock transfer to own branch was 12.794.108 (1.27 crores) therefore Nett sales to registered/unregistered/consumers was 1.41 crores.
my question : 1. was i required to file 9C Return, if yes 2. what is remedy now 3. What is the max Penalty / interest / Fine etc that can be imposed on me. 4. also is there any amnesty scheme in the current year for filing the same.
09 July 2024
Regarding your questions about non-filing of Form 9C for FY 2017-18:
1. **Requirement to File Form 9C**: Form 9C is required to be filed along with the annual GST return if the aggregate turnover during the financial year exceeds ₹2 crores. Based on your turnover figures: - Total Turnover: ₹4.24 crores - GST Period Turnover: ₹2.68 crores
Since both these figures exceed ₹2 crores, you were required to file Form 9C for FY 2017-18.
2. **Remedy**: You should promptly file the Form 9C along with the GST annual return for FY 2017-18. The form should accurately reflect the audited financial statements and reconciliation of turnover as per financial records and GST returns.
3. **Penalties and Interest**: - **Late Fee**: There could be a late fee for not filing the GST annual return and Form 9C on time. The late fee is ₹200 per day of delay, subject to a maximum of ₹5,000. - **Interest**: If there are any unpaid taxes, interest may be applicable under the GST law. - **Penalty**: The penalty could be levied for non-filing or incorrect filing of GST returns and documents. The amount can vary depending on the nature and severity of the default.
4. **Amnesty Scheme**: As of now, there is no specific amnesty scheme announced for FY 2017-18 regarding the filing of Form 9C. Amnesty schemes typically address specific periods and criteria set by the tax authorities. It's advisable to consult with a tax professional or check the latest notifications from the GST department for any updates on amnesty schemes.
**Next Steps**: - File the Form 9C along with the GST annual return for FY 2017-18 as soon as possible. - Pay any applicable late fees or taxes along with interest to avoid further penalties. - Maintain records and ensure timely compliance with GST filing requirements going forward to avoid similar issues.
For precise guidance tailored to your situation, consider consulting with a tax advisor or GST practitioner who can assist you with accurate filing and compliance requirements under GST laws.
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