New Delhi: The Central Board of Indirect Taxes and Customs (CBIC) has announced updates to the annual GST return form GSTR-9, aimed at making Input Tax Credit (ITC) reporting more detailed and comprehensive.
On September 17, the CBIC notified changes to the Central GST (CGST) rules, which will take effect from September 22 and apply to annual returns for the 2024-25 fiscal year. All GST-registered taxpayers with an aggregate turnover exceeding Rs 2 crore are required to file GSTR-9.
Rajat Mohan, Senior Partner at AMRG & Associates, noted that the government has significantly revamped the annual GST return form. “The revised GSTR-9 is far more detailed, with new tables covering reversals under Rules 37, 37A, 38, 42, and 43, re-claims in subsequent years, transitional credits, import-related ITC, and auto-populated mismatches,” he explained.
Professionals and corporates will need to await the revised forms and utilities from GSTN before implementing these changes in practice. Mohan added, “This move reflects a shift toward a more data-driven and preventive compliance framework, which could reduce litigation but will require disciplined documentation at the entity level.”
The updated form will also necessitate deeper reconciliations of GSTR-3B, GSTR-2B, and financial accounts. “By embedding these disclosures upfront, the system aims to spare taxpayers from unnecessary notices, as departmental officers will have a ready-made audit trail in the annual filing,” Mohan observed.
