Whats is GSTR9? | GST Annual Return

GSTR 9

Gstr-9 is an annual return, and that's to be registered each year from the taxpayers using the gst registration, for example individuals having the gst registration below the composition scheme. Gstr-9 includes the facts concerning the materials made and received throughout the year under 3 taxation heads- CGST, SGST and IGST.

WHO MUST FILE THE GSTR 9?

Each of the people having gst registration need to fulfil the yearly gst returnfiling process. This usually means that all typical taxpayers that are expected to submit the gstr 1 and gstr 3 have been needed to document gstr-9 also.

However, the next persons aren't supposed to submit the form gstr 9:

• Casual taxable person
• Input agency providers
• Non-resident donation persons
• Persons paying TDS u/s 51 of the CGST Act 2017 (tax deductees)

PENALTY FOR THE LATE FILING OF GSTR-9 RETURN

Late fees for not submitting the gstr 9 within the expected date is 100 /- daily.

The utmost penalty in case of overdue gstr 9 submitting is that the quarter percent (0.25percent ) of the taxpayer's turnover.

Also, the late fee is billed @ $100/under cgst and $100/under sgst. Therefore, the whole penalty is $200/- daily until such default persists.

There's not any late charge on igst.

DIFFERENT TYPES OF ANNUAL RETURN GSTR-9?

There are basically 4 types of return under GSTR 9 :

• GSTR 9- This is to be filed by the regular taxpayers having GST registration and who file GSTR-1 and GSTR-3B.
• GSTR 9A- This is to be filed by the individuals having GST registration under composition scheme.
• GSTR 9B- GSTR 9B is to be filed by the e-commerce operators who have filed FORM GSTR 8.
• GSTR 9C- Gstr 9C must be filed by the taxpayers having the annual turnover above?2 crores during the financial year. All such taxpayers are applicable for a GST tax audit. They need to file a copy of audited annual accounts and GST reconciliation statement along with GSTR 9C.

FORM GSTR-9 (ANNUAL RETURN) :

1. Preparation of Annual Return is more of compilation of all returns (GSTR-1 & GSTR-3B) with more information.

2. Details that are required in addition to the standard monthly returns are as under –

3. Inward supplies on which tax is paid under reverse charge mechanism;

4. Details of ineligible input tax credit;

5. Details of input tax credit as per GSTR 2A;

6. Details of any transactions pertaining to 2017-18 reported in GST returns for the period April 2018 to September 2018;

7. Differential tax paid during the period from April 2018 to September 2018;

8. Details of refund;

9. Details of supplies made to composition dealer, deemed supply and goods sent on approval basis;

10. HSN-wise summary of inward supplies.

It is strongly advised to timely fulfil the annual GST return filing procedure to avoid a hefty penalty.

ONLINE FILING PROCESS OF ANNUAL RETURN GSTR-9

1. Based on GSTR-1 and GSTR-3B filed during the year, facility to download system computed GSTR-9 as PDF format will be available.

2. Based on GSTR-1 filed, consolidated summary of GSTR-1 will be made available as PDF download.

3. Based on GSTR-3B filed, consolidated summary of GSTR-3B will be made available as PDF download.

4. In each table of GSTR-9, values will be auto-populated to the extent possible based on GSTR-3B and GSTR-1 of the year. All the values will be editable with some exceptions (table 6A, 8A and tax payment entries in table 9).

5. NIL return can be filed through single click. Offline.

6. Offline tool to be downloaded from the portal.

7. Auto-populated GSTR-9 (System computed json) to be downloaded from the portal before filling up values.

8. Table 6A and table 8A will be non-editable.Other values will be editable barring tax payment entries in table 9.

9. After filling up the values, json file to be generated and saved.

After logging on the portal, the json file to be uploaded.

1. File will be processed and error if any will be shown.

2. Error file to be downloaded from the portal and opened in the Excel tool.

3. After making corrections, file will again be uploaded on the portal.

4. Corrections can be made online also except table 17 & 18 if the number of records exceeds 500 in each table.

5. After filing, return can be downloaded as PDF and/or Excel.

6. Revision facility is not there, therefore, return should be filed after reconciling the information provided in the return and in the books.

PAYMENT WHILE FILING GSTR-9:

1. Except late fee, if any, no payment is to be made with annual return.

2. Payment can be made on voluntary basis through GST DRC-03, if required

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