GSTR 9 is the annual return form that every registered taxpayer under GST will need to file at least once a year.
Points to note
This is a statement exhibiting supplies made and supplies received in the immediately preceding year for meeting tax on various account heads. Aggregately, different categories of taxes such as CGST, IGST & SGST and HSN codes are also in different websites.
It is the return of GSTR-1, GSTR-2A & GSTR-3B the summary return of the monthly or quarterly returns filed for that year.
Thus this return assists in a lot of cross checking of data for 100 % transparent disclosures even though the return is bit complicated to prepare.
Any taxpayer/taxable person registered under GST needs to file their annual returns in GSTR 9. The entities that are NOT need to file GSTR 9 include the following:
They are those filing the under Composition scheme who are normal taxpayers who filed GSTR-9A
Casual Taxable Person
Input service distributors
Non-resident taxable persons
PARTIES *ENTAILLED BY PAYING TDS UNDER SECTION 51 OF CGST ACT.
GSTR-9 filing for businesses with turnover up to Rs 2 crore made optional for FY 17-18 and FY 18-19*.
*As per the decision taken in 37th GST Council meeting held on 20th September 2019. Subject to the notification.
Due date of filing? Late fee? Penalty
Further extension in time limit of getting back GSTR-9 has been made for which the last date is now extended up to 30/11/2019 only.
Failing to furnish this GSTR 9 before the due date means a penalty of one hundred rupees for each day, for every such act.This is hundred rupees under CGST and hundred rupees under SGST in case of delay.
Hence the total amount which is recoverable and further the amount executable is up to the extent of Rs 200 per day of default.
This is on condition that the amount does not exceed 0.25% of the taxpayer’s turnover in the particular state or union territory.However in case of IGST, the provisions for payment of late fee is still absent.
Information required to filled in the GSTR 9 ?
Compliance in terms of GSTR-9 is very convenient and requires information which is readily maintained and retrievable from the registered previous returns and your books of accounts.
In its broadest terms, this form requires information on the annual sales who of which are subject to tax as well as those that are not.
while on the purchases facet, the amount of purchases made in the course of the current year and input tax credit availed in respect of a particular purchase is to be shown.
In addition, it of course implies that such purchases should be further classified into inputs, input services and capital goods.In case of ITC, particulars of the ITC which is required to be reversed on the ground that it is not eligible, is to be recorded in respect of a particular transaction.
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