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GSTR 9 Explained

Summary

The Central Board of Indirect Taxes and Customs has recently notified the format of GSTR-9 for the normal tax payers. GSTR-9 is an annual return which is required to be filed by the tax payer.

Due Date: The due date of filing GSTR 9 is 31st December following the end of such Financial Year. It needs to be filed once in a Financial year.

Different Types of Annual Returns

  • GSTR 9 – Annual Return by Regular Tax Payer. Regular Tax payer means the person who files GSTR 1, GSTR 2 and GSTR 3.
  • GSTR 9A – The tax payer registered under Composition scheme and filing GSTR 4 should file the annual return in form GSTR 9A
  • GSTR 9B – The tax payers registered as e-commerce operator and filing GSTR 8 should file the annual return in form GSTR 9B
  • GSTR 9C – The tax payers whose annual turnover exceeds Rs 2 crores are required to file the annual return in form GSTR 9C.All the tax payers who are required to get their books of accounts audited should also file a reconciliation statement.

Persons who are not required to file Annual Returns

The following persons are not required to file GSTR 9

  • Input Service Distributors
  • Casual Taxable Persons
  • Non-Resident Taxable Persons
  • Persons paying tax under section 51 (Tax Deducted at source)
  • Persons paying tax under section 52 (Tax Collected at source)
Note: Persons paying tax under section 52 (TCS) is required to file GSTR-9B but since, provisions of section 52 is applicable from 01st October 2018 only, they are not required to file GSTR-9B for the year 2017-18

Details required to be given in GSTR-9

The following details should be entered in GSTR-9

  • Basic information of tax payer
  • Consolidated details of Sales and purchases for the entire Financial Year
  • Consolidated Value of Input Tax Credit which will be auto Populated from the filed GST Returns
  • Details of Taxes paid in the Financial Year
  • Details of Amendments to the details already filed in GST returns
  • Other information

Penalty for Late filing of GSTR 9

Every registered person shall file the GST return within due date. Late fee for belated filing of GSTR 9 is Rs 100 per day subject to maximum of 0.25% of turnover in a state/union territory. There is a similar provision in SGST act also. Hence there will be a late fee of Rs 200 per day subject to 0.50% of turnover in a state on late filing of GSTR 9.

Quick GST FAQs

A comprehensive list of frequently asked questions on GSTR-9

1.What is form GSTR 9A and who is required to file it ?

GSTR 9A is annual return required to be filed by the person registered under composition scheme and filing GSTR 4 return

2.What is form GSTR 9B and who is required to file it ?

GSTR 9B is annual return required to be filed by the person registered under section 52 (Persons who are required to collect tax at source) and filing GSTR 8 return.

3.Which annual return is required to be filed by the taxable person if he changes from composition scheme to regular scheme and his status as on 31/03/2018 is a regular tax payer ?

The tax payer need to file both GSTR 9 and GSTR 9A. He is required to file GSTR 9A for the period he registered under composition scheme and GSTR 9 for the period registered under regular scheme.

4.Is it mandatory to file GSTR 9 even though there is no activity during the prescribed financial year ?

Yes, every registered tax payer is required to file GSTR 9 even though there is no activity or turnover during the financial year.

5.Is it possible to revise GSTR 9 return ?

It is not possible to revise GSTR 9. No such option has been provided in the law till now.

6.What are the consequences of failure to file GSTR 9 ?

If GSTR 9 is not filed by the tax payer within due date, late fee will be payable. A notice may be issued to the taxable person requiring him to furnish the return

7. Whether transactions for the period April 2017 to June 2017 are also to be included in GSTR 9 for FY 2017-18 ?

No, instructions forming part of GSTR-9 which was notified by Notification No. 39/2018 dated 04th September 2018, clearly mentions that only details for the period July 2017 to March 2018 are to be provided in GSTR-9.

In case you come under the compliance to file your Annual GST Returns, speak to Team EZTax.in to know more and help you be tax compliant.

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