GSTR-9 is a vital annual filing requirement for GST-registered taxpayers. It compiles comprehensive data on both outward and inward supplies, covering transactions in the fiscal year, including CGST, SGST, and IGST supplies. It serves as a consolidated record of monthly or quarterly returns for that year.
What is GST Annual Return Filing?
GSTR-9 is an annual return filed by GST-registered taxpayers each year. Key details include:
Records of outward and inward supplies, categorized under CGST, SGST, IGST, and HSN codes.
It consolidates data from monthly/quarterly returns (GSTR-1, GSTR-2A, GSTR-3B) filed during the year, aiding in comprehensive data reconciliation for transparent reporting.
Types of GST Annual Return Filing:
There are three types of GST Annual Returns:
GSTR-9: This is required for entities with a turnover exceeding 2 crores. It compiles comprehensive financial information.
GSTR-9A: This is for taxpayers in the GST Composition scheme. It caters to the specific needs of composition scheme participants.
GSTR-9C: This form reconciles the annual returns in GSTR-9 with audited financial statements. It's essential for entities that need an annual audit. Entities with an annual aggregate turnover exceeding two crores must undergo this audit, which is performed by Chartered Accountants or Cost Accountants.
Who Should do GST Annual Return Filing?
Every taxpayer or taxable entity registered under GST is obligated to file GSTR-9 annually. However, the following categories are exempt from filing GSTR-9:
Taxpayers who have chosen the composition scheme (they should file GSTR-9A).
Casual Taxable Persons.
Input Service Distributors.
Non-resident taxable persons.
Individuals paying TDS under section 51 of the CGST Act.
For businesses with turnovers up to Rs 2 crore, GSTR-9 filing has been made optional starting from the financial year 2017-18 onwards.
Penalties for Late Filing of GSTR-9 Form:
Taxpayers must submit the GSTR-9 form within the specified time frame.
Late filing incurs a significant penalty of 200 INR per day.
The late fee is divided into 100 INR for CGST and 100 INR for SGST.
No late fee applies for IGST.
Importantly, the penalty amount will not exceed the taxpayer's quarterly turnover.
Meeting the filing deadline is crucial to avoid these penalties.
Ensures smooth compliance with tax regulations.
Tax & Process
GSTIN (Goods and Services Tax Identification Number)
Comprehensive Structure of GSTR-9:
The GSTR-9 format is structured into six parts, consolidating crucial details of supplies made or received from July '17 to March '18:
Part-1: Basic Registration Details
Provides basic registration information, such as fiscal year, GSTIN, legal name, and trade name.
Automatically populated on the GST portal.
Part-2: Details of Outward Supplies
Consolidates details of outward supplies declared in the financial year.
Divided into two sections:
Supplies on which tax is payable (taxable supplies, exports, SEZ supplies, reverse charge, advances received).
Supplies on which tax is not payable (exports, exempt supplies, nil-rated supplies, non-GST supplies).
Part-3: Input Tax Credit (ITC)
Comprises three sections:
ITC availed as declared in filed returns (breakdown of ITC availed on inward supplies).
ITC reversed and ineligible ITC (details of ITC reversal and ineligible ITC).
Other ITC-related information (GSTR-2A data, reclaimed ITC, etc.).
Part-4: Tax Paid
Captures tax paid as per the previous year's returns.
Breaks down tax payable, cash payments, and payments through ITC.
Part-5: Transactions of Previous Financial Year
Covers transactions from the previous financial year but declared in the April to September returns of the current year.
Part-6: Miscellaneous Details
Provides information on demands, refunds, supplies from composition dealers, HSN-wise supply summary, and late fees.
How many subcategories are there under GSTR 9?
There are four sub-categories under GSTR-9. Namely, GSTR-9, GSTR-9A, GSTR-9B, GSTR-9C.
What is the penalty for not filing GST annual returns?
According to Section 47(2) of the Central Goods and Service Tax Act (2017), a person can be penalized with INR 100 per day (CGST) + INR 100 per day (SGST), totaling INR 200 per day if they fail to file GSTR-9 by the due date. However, the maximum penalty is limited to 0.25% of the total turnover.
When is the due date for filing GSTR 9?
The due date for filing GSTR-9 is extended to March 31, 2021, according to GST Notification 04/2021 by the CBIC (Central Board of Indirect Taxes and Customs).
If the taxpayer opts for the composition scheme, are they required to file GSTR 9?
Yes, every taxpayer who has opted out of the composition scheme during the financial year is required to file GSTR-9 for the period when they were a regular taxpayer.
Is it possible to file GSTR 9 online?
Yes, currently, annual returns in form GSTR 9 can only be filed online. However, the government is planning to introduce an offline method for filing GSTR-9 in the near future.