In this article, we will discuss about...
What is GSTR-9 Annual Return?
GSTR 9 is the annual return. It is a compiled return which involves all business dealings done for the specific Financial Year. GSTR-9 includes every detail about the supplies, made and received, throughout the year, under different tax heads i.e., CGST, SGST, and IGST. It merged all particulars provided in the monthly/quarterly returns throughout a specific year.
Finally, an annual GST returns GSTR 9 must be filed by all GST registered entities on/before the 31st of December every year. However, for its first filing of GSTR 9 for the Year ended 31st March 2018 the due date has been extended to 30th June 2019
Who is Supposed to file GST?
All the persons who have registered themselves under GST are supposed to fill GSTR 9 form. Persons exempted from filing GSTR 9 are taxpayers are
composition scheme as they need to fill GSTR 9a form instead of GSTR 9 form:
- Casual Taxable Person
- Input service distributors
- Non-resident taxable persons
- TDS which is paid under section 51 of the CGST Act.
- Composition Dealers as they need to fill GSTR 9a.
What are the different types of Annual Return?
There are 4 types of annual returns:
- GSTR 9: GSTR 9 should be filed by the regular taxpayers, filing GSTR 1, and GSTR 3B.
- GSTR 9A: GSTR 9A should be filed by the persons registered under the composition scheme under GST.
- GSTR 9B: GSTR 9B should be filed by the e-commerce operators who have filed GSTR 8 during the financial year.
- GSTR 9C: Every registered person under GST whose aggregate turnover during a financial year exceeds two crore rupees, would need to get his accounts audited as specified under sub-section (5) of section 35. While filling GSTR 9C form an audited copy of annual accounts along with a reconciliation statement should be given too.
What is the Due Date of GSTR-9?
31 December has been fixed as the deadline for filing GSTR 9 form in a subsequent financial year. The date may be extended or changed by the government if it is required. For its first filing of GSTR 9 for the Year ended 31st March 2018, the due date has been extended to 30th June 2019
What is the Penalty for the late filing of GSTR-9 form?
A late fee for not filing the GSTR 9 within the due date is Rupees 100 per day per act. The total fine is calculated on the taxpayer’s turnovers quarter percentage in a state or union territory. The separate fine is calculated on CGST and SGST which equals to 200 per day of default.IGST has to late filing charges. There is no late fee on IGST.
Essential Details for filing up GSTR-9 form
| S.no | Parts of the GSTR-9 | Information needed |
| 1 | I | Basic details of the taxpayer. This detail will be auto-populated. |
| 2 | II | Information of Outward and Inward supplies acknowledged during the financial year (FY). This detail must be chosen up from combined abstract from all GST returns filed in the previous FY. |
| 3 | III | Information of ITC confirmed in returns filed during the FY. This will be concluded values chosen from all the GST returns filed in the previous FY. |
| 4 | IV | Particulars of tax paid as affirmed in returns filed during the FY. |
| 5 | V | Particulars of the dealings for the previous FY acknowledged in returns of April to September of current FY or up to the date of filing of annual returns of previous FY whichever is earlier. Typically, the summary of amendment or omission entries belonging to previous FY but reported in Current FY would be segregated and declared here. |
| 6 | VI | Other Information comprising details of: |
| -GST Demands and refunds, | ||
| Summary according to HSN wise and details of the number of goods supplied and received with its corresponding Tax details against each HSN code, | ||
| -Late fees payable and paid details and | ||
| -separation of inward supplies received from various sections of taxpayers like Composition dealers, deemed supply and goods supplied on approval basis. |
How to Prepare and file GSTR-9?
Whatever you declare in the Annual returns have a long term impact. Any wrong or concealed information can levy tax, interest, and penalties on the same; along with the long-term liability of litigation expenses that follow years later.
The principal source for preparing GSTR-9 will be GSTR-1 and GSTR-3B returns. Every fact and figure must be duly verified with the accounting records before declaring in annual returns.
How AKT Associates can help you to file GSTR-9?
AKT Associates is India’s Leading Tax and Compliance firm, a platform managed, operated and driven by top-notch CA, CS, IT professionals, Lawyers, and Influencers, who have vast experiences into the respective fields. What differentiates us from others is our pricing, AKT’s compliance management team, dedicated teams of professionals, whom we call Compliance Managers, digitally advanced platforms for client-serving, among other things.
Internally at AKT, we have developed unique and customized working methods, which are committed to ensuring error-free service delivery, faster execution and quick response time to the clients.
How we Work
- We will remind you before the due date
- Submit Documents
- Verification of Documents
- Preparation of GST Return
- GST Return filed & Ack Generated
FAQ
1. Is it mandatory to file Form GSTR-9?
Yes, It is compulsory to file Form GSTR-9 for normal taxpayers, Even in case, there is no transaction.
2. How can I revise the GSTR-9 which has already been filed?
Presently, No revision is allowed while filing GSTR 9.
3. Whether form GSTR-9 return is required to be filed at the entity level or GSTIN level?
Form GSTR-9 return is required to be filed at GSTIN level i.e. for each registration. If taxpayer has obtained multiple GST registrations, under the same PAN, whether in the same State or different States, he/she is required to file annual return for each registration separately, where the GSTIN was registered as a normal taxpayer for some time during the financial year or for the whole of the financial year.
4. Should I match my input GST with 2A before filing GSTR 9?
You must match your GSTR-2A for FY 2017-18 data with the input tax credit projected in your books of accounts till March 2019 for FY 2017-18 data before filing GSTR-9.
5. Do we have to file monthly GSTR 9 return after we have received the cancellation order, but the final return is pending?
According to the provision of Section 44(1) of CGST Act, every individual who is registered will be required to file GSTR-9. Therefore, even though the status of taxpayer is not registered as on 31st March 2018 but he was registered between July-17 to March-18, he will be required to file the GSTR-9 providing details for the period during which he was registered. Similarly, if a taxpayer had applied for cancellation of registration but the application was pending as on 31st March 2018, he shall be required to file GSTR-9.
6. What happens to the provisional credit recorded in books of accounts and claimed in GSTR-3B, if that is not reported by suppliers in their GSTR-1 and hence not reflecting in GSTR-2A?
We can show as per the amount claimed in GSTR-3B.
7. I hold a valid GST registration number. I do not have any business activity for a particular month. Do I still have to file my GST Return?
Yes, as long as you hold GST registration number, you need to file NIL returns, if there are not reportable transactions.
8. What is the composition scheme under GST? Can I opt for the same?
GST Composite scheme is basically meant for small traders and manufacturers who intend to take exemptions under GST. Businesses with sales less than Rs. 150 Lakhs can avail this scheme.
9. Did I make some errors in filing GST3B? Can I revise the same?
Return once filed cannot be revised. However, you may give appropriate adjustments in subsequent returns. Get in touch with us to know more about this.
10. How long does it take to file a GSTR 9 Return?
It depends on the complexity of business and the availability of required data. If data is readily available than the GSTR 9 Annual return can be filed in two days.
11. What should I do if DSC does not work while filing?
If DSC does not work, you can always file a GST return using other methods which involve an OTP from your registered phone number, your PAN information, and a DSC.
12. Which Cities do you provide your services?
AKT Associates provides GST Return all across India. You can obtain GST Return in Ahmedabad, Mumbai, Pune, Bangalore, Chennai, Delhi, Kolkata, Kanpur, Nagpur, Jaipur or any other cities easily with us.
Still, have confusion?
Don’t worry!! Our expert will help you to choose the best suitable plan for you. Get in touch with our team to get all your queries resolved. You may reach us at email ID cs@aktassociates.com Or Mobile 808080961
9 thoughts on “GSTR 9 – Everything you want to know about GST Annual Return.”