1. What is GSTR-9 annual return?
GSTR 9 form is an annual return to be filed once in a year by the registered taxpayers under GST. It consists of details regarding the supplies made and received during the year under different tax heads i.e. CGST, SGST, and IGST. It consolidates the information furnished in the monthly or quarterly returns during the year.
2. Who should file GSTR 9 annual return?
All the registered taxable persons under GST must file GSTR 9 form. However, the following persons are not required to file GSTR 9. Taxpayers opting Composition scheme as they must file GSTR-9ACasual Taxable PersonInput service distributorsNon-resident taxable persons paying TDS under section 51 of GST Act.
3. What are the different types of annual returns?
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: GSTR 9C should be filed by the taxpayers whose annual turnover exceeds Rs 2 crores during the financial year. All such taxpayers are also required to get their accounts audited and file a copy of audited annual accounts and reconciliation statement of tax already paid and tax payable as per audited accounts along with GSTR 9C.
4. What is the Penalty for the late filing of GSTR-9 form?
Late fees for not filing the GSTR 9 within the due date is Rs. 100 per day per act up to a maximum of an amount calculated at a quarter percent of the taxpayer turnover in the state or union territory. Thus it is Rs 100 under CGST & 100 under SGST, the total penalty is Rs 200 per day of default. There is no late fee on IGST.
5. What are the details required in the GSTR-9 form?
Sl no Parts of the GSTR-9 Information required
1 Part-I Basic details of the taxpayer. This detail will be auto-populated.
2 Part-II Details of Outward and Inward supplies declared during the financial year (FY). This detail must be picked up by consolidating summary from all GST returns filed in the previous FY.
3 Part-III Details of ITC declared in returns filed during the FY. This will be summarised values picked up from all the GST returns filed in the previous FY.
4 Part-IV Details of tax paid as declared in returns filed during the FY.5 Part-V Particulars of the transactions for the previous FY declared 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. Usually, the summary of amendment or omission entries belonging to previous FY but reported in Current FY would be segregated and declared here.
6 Part-VI Other Information comprising details of:-GST Demands and refunds,-HSN wise summary information of the quantity of goods supplied and received with its corresponding Tax details against each HSN code,-Late fees payable and paid details and-Segregation of inward supplies received from different categories of taxpayers like Composition dealers, deemed supply and goods supplied on approval basis
Written by Priyanka Malohtra