What is GSTR 9?
- GSRT-9 is Annual Return required to be filed after the end of the Financial Year
- Here we provide the details of all supplies made (i.e. Sales) and received (i.e. Purchases) during the year under different GST tax heads i.e. CGST, SGST and IGST and
- Consolidates the information furnished in the monthly or quarterly returns during the year and we can include any unreported Input supply or/and output supply details here.
Who is required to file GSTR 9?
All the registered taxable persons under GST must file GSTR 9. except, the following
What is covered here
- Taxpayers opting Composition scheme as they must file GSTR-9A
- Casual Taxable Person
- Input service distributors
- Non-resident taxable persons
- Persons paying TDS under section 51 of GST Act.
Types of Annual Returns?
- GSTR-9C
- To be filed by every Registered Person
- Due date is 31st December of succeeding Financial year.
- GSTR-9A
- To be filed by composition taxable person.
- Due date is 31st December of succeeding Financial year.
- GSTR-9B
- To be filed by every E-Commerce Operator who is collecting TCS U/s 52
- GSTR-9C
- To be filed by taxpayers whose annual turnover exceeds ₹ 2 Crore during the FY.
- Taxpayers required to get there account audited and required to submit a copy of annual audited accounts and reconciliation statement of tax paid and payable with GSTR-9C
Points to be noted:
- The due date for filing GSTR-9, GSTR-9A, and GSTR-9C was extended to 30th June 2019 in 31st GST Council meeting held on 22nd December 2018.
- It is clarified that no ITC can be claimed in GSTR-9. I.e. Any Liability identified later during the filing of GSTR 9 is to be deposited with the government in Form DRC-03 and in Cash only.
- Reconciliation of the books of accounts and tax invoices issued during July 2017 to Mar 2018 is of utmost importance; this should match the turnover declared in the audited financial statements. all invoices, debit and credit notes shall also be in agreement with books of accounts.
- The Tax Invoices issued during the period and the E Way Bill Data should be matched.
- To avoid any mismatch in the ITC claimed and ITC paid on purchases. Purchase Invoices should agree with Books and the sales data must be uploaded in GSTR-1 so that it will appear in GSTR-2A of the purchaser.
Details In GSTR 9:
Part 1.
- Basic Details (Auto Populated)
Part2.
- Details of Outward & Inward Supplies declare during the year.
Part 3.
- Details of ITC declared in returns.
Part 4.
- Detail of tax paid, declared in returns filed during the year.
Part 5.
- Brief summary of amendments or/and omission belongs to previous FY that are reported in current FY.
Part 6.
- GST demand or/and Refund
- HSN wise summary info along with corresponding tax details.
- Late Fee paid or/and payable
- Segregated inward supplies received from different categories of taxpayers i.e. Composition dealers, deemed supply and goods supplied on approval basis.
Penalty for Late filing of GSTR 9:
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 0.25% of the turnover in the state or union territory. Thus there is no late fee on IGST.
Disclaimer: Due care has been taken to draft this write-up and is intended to express the Authors understanding and to start an academic discussion on the subject discussed in above write-up. it should not be considered as professional advice. Readers are advised to refer to relevant provisions of law before applying any of the above-mentioned views. The author accepts no responsibility whatsoever and will not be liable for any losses, claims or damages which may arise because of the content of this write-up.