GST Annual Return (GSTR 9)

    GSTR-9 Filing – GST Annual Return

    All the regular taxpayer registered under GST and having an annual turnover of more than Rs.2 crore should file GSTR-9 or GST Annual Return. The only category of GST registered entities not required to file GSTR-9 filing are input service distributors, casual taxable persons and non-resident taxable persons. The due date for filing GSTR-9 for FY2017-18 is 30th November, 2019. In this article, we look at GSTR-9 filing in detail.

    Due Date Extension

    As per the latest notification from the Ministry of Finance, the due date of filing GSTR-9 is extended upto 31st December 2019 for the FY 2017-18 and upto 31st March 2020 for the FY 2018-19.

    What is GSTR-9 Filing?

    GSTR-9 or GST annual return is a type of GST return that must be filed by regular taxpayers and persons registered under GST composition scheme. GSTR-9 must be filed each year through the GST Common Portal or LEDGERS GST Sofware or at a GST Facilitation Centre.

    Who should file GSTR-9A return?

    Regular GST taxpayers filing GSTR-1, GSTR-2 and GSTR-3 must file GSTR-9A, consolidating information furnished during the previous financial year.

    Who should file GSTR-9B return?

    All the electronic commerce operators collecting tax at source shall file GSTR-9B return. n addition to GSTR-9B return, electronic commerce operators shall also file GSTR-8 return, every month.

    Who should file GSTR-9C return?

    Regular taxpayers having an aggregate turnover of over Rs.5 crore during a financial year and registered with GST must audit the accounts maintained by the taxpayer and file a copy of the audited annual account and reconciliation statement along with GSTR-9C return. To audit the returns, the taxpayer can approach a practising Chartered Accountant or Cost Accountant.

    What information should be filed in GSTR-9 return?

    The taxpayer shall provide the following information while filing GSTR-9A return:

    • Total value of purchases on which ITC availed (inter-State)
    • Total value of purchases on which ITC availed (intra-State)
    • Total value of purchases on which ITC availed (Imports)
    • Other Purchases on which no ITC availed
    • Sales Returns
    • Other Expenditure (Expenditure other than purchases)
    • Total value of supplies on which GST paid (inter-State Supplies)
    • Total value of supplies on which GST Paid (intra-State Supplies)
    • Total value of supplies on which GST Paid (Exports)
    • Total value of supplies on which no GST Paid (Exports)
      Value of Other Supplies on which no GST paid
    • Purchase Returns
      Other Income (Income other than from supplies)
    • Return Reconciliation Statement
    • Arrears (Audit/Assessment etc.)
    • Refunds
    • Turnover Details
    • Profit as Per the Profit and Loss Statemen
    • Gross Profit
    • Profit after Tax
    • Net Profit
    • Details of Statutory Audit

    Penalty for Late Filing

    A per day penalty of Rs.100, up to a maximum amount of Rs.5000 would be applicable for late filing of the GSTR-9 return. Only if all the GSTR-1, GSTR-2 and GSTR-3 returns are filed, the taxpayer would be able to file GSTR-9 return on the GST Portal.

    Should GSTR-9 return be audited?

    Yes. Regular taxpayers having an aggregate turnover of over Rs.5 crore during a financial year and registered with GST must file GSTR-9 returns. To audit GSTR-9 return, the taxpayer can approach a practising Chartered Accountant or Cost Accountant.