These days you might have come across different types of returns which are to be filed under the GST regime. Here, we shall discuss the filing process of the GSTR 9 return in detail. GSTR 9 refers to an annual return which should be filed on a yearly basis by those taxpayers who are registered under the GST system. Further, it includes details related to inward and outward supplies received or made during the preceding year under various heads like SGST, CGST, IGST, and HSN codes. In fact, it is a consolidated statement of the entire monthly/quarterly returns such as GSTR 1, GSTR 2A, GSTR 3B, etc., which are filed during the relevant year. Though this return seems to be a bit complicated, it helps in the reconciliation of data, thereby facilitating complete transparency in the disclosures.
Who All are required to File GSTR 9?
All those taxpayers or taxable individuals who are registered under the GST regime are required to file their GSTR 9 return. Anyhow, the below-mentioned individuals need not file this return:
- Those taxpayers who opt for composition scheme (they should file GSTR 9A)
- Input service distributors
- A casual taxable person
- Those individuals who pay TDS under section 51 of the CGST Act
- Non-resident taxable individuals
Important Note: According to the decision made in the 37th GST Council meeting held on 20th September 2019, the GSTR 9 filing for businesses that have a turnover up to Rs.2 crore have been made optional for FY 17-18 and FY 18-19* (*this has been subject to notification).
Due Date, Late Fee, and Penalty for Not Filing GSTR 9 Return
The annual GSTR 9 return form should be provided on or before 31st December in the concerned financial year bracket. In fact, the due date for filing GSTR 9 has been further prolonged to November 30th 2019.
If the GSTR 9 return has not been filed within the due date, the late fee is Rs.100
per day, according to both CGST and SGST Act. In other words, the total liability would be Rs.200 per day of default. Further, this would be subject to a maximum of 0.25% of the turnover of the taxpayer in the concerned state or Union Territory. Anyhow, as per the IGST Act, no late fee is required.
The Important Details Which are Required to be filled in the GSTR 9 Form
The GSTR 9 form has been broadly divided into 6 parts and 19 sections. Every part asks for information which is readily available from the previous returns as well as the books of accounts. Generally, the disclosure of annual sales needs to be done in this form, dividing it between the cases which are subjected to taxation and those which are not subjected to taxation. As concerned with the purchase side, the annual value of inward supplies, as well as the corresponding ITC (Input Tax Credit) availed, should be furnished. Further, these procurements should be categorized as inputs, capital goods, and input services. Moreover, the information concerning ITC that should be reversed owing to ineligibility should also be entered.
The Different Types of Annual GST Returns
There are different types of annual returns which come under GST:
- GSTR 9 Annual Return Form: A regular taxpayer who files GSTR 1 and GSTR 3B forms need to file the GSTR 9 return
- GSTR 9A: All the composition scheme holders under GST are required to file the GSTR 9A return
- GSTR 9B: All e-commerce operators are required to file the GSTR 9B return during a financial year
- GSTR 9C: Those taxpayers whose annual turnover cross Rs.2 crore need to file the GSTR 9C return during a financial year. Further, these taxpayers need to collect the accounts which are to be audited, along with a copy of the tax reconciliation statement which has been already paid, the audited annual accounts, and the tax payable according to the audited accounts.
To summarize, you would be able to get a gist of the GSTR 9 online filing procedure from the information furnished here.