Filing GST Annual Return And GSTR 9 | Ebizfiling

  

  Introduction 

 

The Goods and Services Tax which was implemented in 2017, helped the businesses by replacing the complicated center and state taxation systems with a simpler and unified system. In India, more than Rs. 1.32 Cr business have registered their business under the new GST regime and obtained GSTIN. All businesses with GST registration is required to submit an annual GST return, regardless of their business's activity, sales, or profit during the GST return filing period.

 

Individuals who are enrolled under the GST regime are required to submit an annual return for that particular financial year. The annual return is a compilation return that contains details of all the company transactions that took place within a specific financial year. So in this blog, we will discuss all about the filing a GST annual return.

 




 What is GST annual return?  

 

GST annual returns must be filed using Form GSTR-9. It is for taxpayers who are enrolled as regular taxpayers, SEZ units, and SEZ developers. On these tax forms, taxpayers have to provide particular information about their sales and purchases, as well as credit for tax-free inputs and refunds that were requested or generated.

 

 Who is responsible for filing the GST annual return?  

 

All the registered taxpayers/taxable person is required to file GST annual return except for the following persons:

 

  • An Input Service Distributor

  • A person paying tax under Section 51 (i.e. TDS deductor)

  • A person paying tax under Section 52 (i.e. TCS collector)

  • A casual taxable person

  • A non-residential taxable person

 

 What is GSTR 9? 

 

This form is filed to submit the annual return of the company by all the registered taxpayers. It includes all the information about the outgoing and incoming supplies made during the particular financial year.

 

The taxpayer is required to submit all GSTR-1, GSTR-3B, or GSTR 4 returns before filing GSTR 9. The GST registration holder will not be permitted to file an annual GST return online if there are outstanding debts. The information on the outgoing and incoming supplies made or received during the relevant financial year under CGST, SGST, and IGST is included in GSTR 9. It is a summary of all the quarterly and monthly returns submitted during that particular financial year.

 

 Different types of annual return  

 

There are 4 types of GST annual returns prescribed by the CGST Rules, 2017. They are as follows:

 

1. Form GSTR 9- It is an annual return filed by all the regular taxpayers registered under GST Act, 2017.

 

2. Form GSTR 9A- It is an annual return filed by the taxpayer who has opted for the composition scheme and who has to pay tax under section 10 of GST Act, 2017. It should be noted that Form GSTR 9A is not required to be filled w.e.f. the financial year 2019-20 due to the entry of Annual Form GSTR4.

 

3. Form GSTR 9B- All the e-commerce operators who are required to collect tax at source under section 52 of the Act, are obligated to file this annual GST return.

 

4. Form GSTR 9C- Every registered taxpayer with an aggregate annual turnover of more than Rs. 5 Cr during a financial year is required to file this annual return. It is a reconciliation statement which is necessary to be self-certified by the registered taxpayer.

 

 Due date and penalty for late filing of annual return 

 

Every taxpayer is obligated to file an annual return. As per the CGST Rules, 2017 the last day of filing an annual return i.e., GSTR 9 is on 31st December every financial year.

If the taxpayer fails to file GST return by the due date, then he will be subject to penalties of Rs. 100 per day subject to a maximum of 0.25% of his turnover in Union territory and State as per the provision of the CGST Act, 2017. A similar provision is mentioned in SGST Acts. Therefore, the registered taxpayer is liable to Rs. 200 per day in total for late filing of the GST annual return.

 

 Details of GST annual return filing 

 

  • Form GSTR 9 details

 

This annual return is divided into 6 parts containing 19 tables. It should be noted that before the filing of GSTR 9 annual return, filing of GSTR 1 and GSTR 3B is mandatory by every registered taxpayer. The details of this Form are as follows:

 

Part I: Basic Details 

Table 1: Financial Year

Table 2: GSTIN

Table 3A: Legal Name

Table 3B: Trade Name (if any)

 

Part II: Details of Outward and Inward supplies made during the financial year 

Table 4: Details of advances, inward and outward supplies made during the financial year on which tax is payable

Table 5: Details of advances, inward and outward supplies made during the financial year on which tax is NOT payable

 

Part III: Details of ITC for the financial year

Table 6: Details of ITC availed during the financial year

Table 7: Details of ITC reversed and ineligible ITC for the financial year

Table 8: Other ITC related information

 

Part IV: Details of tax paid as declared in returns filed during the financial year

Table 9: Details of tax paid as declared in returns filed during the financial year

 

Part V: Particulars of the transactions for the financial year declared in returns of the next financial year till the specified period

Table 10: Supplies/ tax declared through amendments (+) (net of debit notes)

Table 11: Supplies/ tax reduced through amendments (-) (net of credit notes)

Table 12: Reversal of ITC availed during the previous financial year

Table 13: ITC availed for the previous financial year

Table 14: Differential tax paid on account of declaration in Table 10 and 11 above

 

Part VI: Other Information 

Table 15: Particulars of demands and refunds

Table 16: Information on supplies received from composition taxpayers, deemed supply under Section 143 and goods sent on an approval basis

Table 17: HSN wise summary of outward supplies

Table 18: HSN wise summary of inward supplies

Table 19: Late fee payable and paid

 

  • Form GSTR 9A details

 

This annual return is divided into 5 parts containing 17 tables. The details of this Form are as follows:

 

Part I: Basic Details 

Table 1: Financial Year

Table 2: GSTIN

Table 3A: Legal Name

Table 3B: Trade Name (if any)

Table 4: Period of composition scheme during the financial year

Table 5: Aggregate Annual Turnover of the previous financial year

 

Part II: Details of Outward and Inward supplies made during the financial year 

Table 6: Details of outward supplies made during the financial year

Table 7: Details of inward supplies on which tax is payable on reverse charge (net of credit /debit note) for the financial year

Table 8: Details of other inward supplies for the financial year

 

Part III: Details of tax paid as declared in returns filed during the financial year

Table 9: Details of tax paid as declared in returns filed during the financial year

 

Part IV: Particulars of the transactions for the previous financial year declared in returns of April to September of the current FY or upto date of filing of Annual Return of the previous financial year, whichever is earlier

Table 10: Supplies/ tax declared through amendments (+) (net of debit notes)

Table 11: Inward supplies liable to reverse-charge declared through amendments (+) (net of debit notes)

Table 12: Supplies/ tax reduced through amendments (-) (net of credit notes)

Table 13: Inward supplies liable to reverse-charge reduced through amendments (-) (net of credit notes)

Table 14: Differential tax paid on account of the declaration made in Table 10, 11, 12 & 13

 

Part V: Other Information

Table 15: Particulars of demands and refunds

Table 16: Details of credit reversed or availed

Table 17: Late fee payable and paid

 

Note: The taxpayer is given the opportunity to pay any additional liability stated in this form through FORM DRC-03 at the conclusion of the annual return (GSTR 9, GSTR9A)  The taxpayer has to choose "Annual Return" from the drop-down menu given in FORM DRC-03.

 

  • Form GSTR 9C details

 

This is a reconciliation statement which is divided into 5 parts containing 17 tables. It should be noted that before the filing of the GSTR 9C annual return, filing of GSTR 1 and GSTR 3B is mandatory by every registered taxpayer.

 

The reconciliation statement should be filed separately for each GSTIN. The financial year for which the reconciliation statement is being submitted is the one that is referred to as the "current financial year" throughout this statement. The details of this Form are as follows:

 

Part I: Basic Details

Table 1: Financial Year

Table 2: GSTIN

Table 3A: Legal Name

Table 3B: Trade Name (if any)

Table 4: Are you liable to audit under any Act?

 

Part II: Reconciliation of turnover declared in audited Annual Financial Statement with turnover declared in Annual Return (GSTR-9):

Table 5: Reconciliation of gross turnover

Table 6: Reasons for un-reconciled difference in annual gross turnover

Table 7: Reconciliation of taxable turnover

Table 8: Reasons for un-reconciled difference in taxable turnover Part III: Reconciliation of tax paid

Table 9: Reconciliation of rate wise liability and the amount payable thereon

Table 10: Reasons for un-reconciled payment of the amount

Table 11: Additional amount payable but not paid (due to reasons specified in Tables 6, 8 and 10 above)

 

Part IV: Reconciliation of Input Tax Credit (ITC) 

Table 12: Reconciliation of net Input Tax Credit (ITC)

Table 13: Reasons for un-reconciled difference in ITC

Table 14: Reconciliation of ITC declared in Annual Return (FORM GSTR9) with ITC availed on expenses as per audited Annual Financial Statement or books of accounts Table 15: Reasons for un-reconciled difference in ITC

Table 16: Tax payable on un-reconciled difference in ITC (due to reasons specified in Table 13 and 15 above)

 

Part V: Additional liability due to non – reconciliation

Table 17: Additional liability due to non – reconciliation

 

Note - The taxpayer is given the opportunity to pay any additional liability stated in this form through FORM DRC-03 at the conclusion of the annual return (GSTR 9, GSTR9A). The taxpayer has to choose "Reconciliation Statement" from the drop-down menu given in FORM DRC-03.

 

 

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