Normally a taxpayer files monthly return in form GSTR-1 & GSTR-3B, but annually he needs to summarize his GST details in form of GST annual return GSTR-9. In this article I will explain you all major concepts related to GST annual return form GSTR-9.
What is GSTR-9?
In From GSTR- 9 a supplier has to file his annual return by reconciling his monthly/quarterly return with its audited balance sheet with respect to that particular financial year.
Details of GSTR-9?
Gstr-9 is a return in which a taxpayer has to give his annual details such as:-
- Outward taxable supplies
- Outward non-taxable supplies
- Amount of outward GST under each head i.e. CGST, SGST, IGST, CESS .
- Credit note/Debit note issued during the year
- Amount payable under reverse charge
- Inward taxable supplies received
- Inward non-taxable supplies received
- Input tax credit availed under each head i.e. CGST, SGST, IGST, CESS
- Input on capital Goods availed under each head i.e. CGST, SGST, IGST, CESS
- Amount of Late fees & interest paid during the year.
GSTR-9 has to be reconciled by the taxpayer from his monthly return‘s which he has filed during the relevant financial year.
Person liable to file Form GSTR-9
Every taxpayer has to file Form–GSTR-9 mandatorily but GST act has given exemptions from GSTR-9 to these class of taxpayers mentioned below:
- Composition scheme taxpayers
- Casual Taxable Person
- Input service distributors
- Non-resident taxable persons
- Persons paying TDSunder section 51 of CGST Act.
What is the turnover limit for GSTR 9?
There is no turnover limit for filing GSTR-9 form
What is the Due date for GSTR 9?
Form GSTR-9 is due on 31st of December of the succeeding financial year.
The due date to file GSTR 9 form is extended to 31st October 2020 for the FY 2018-19 via notification number 69/2020-central tax. It was further extended to 31st December 2020.
What is the Late fee for GSTR 9?
Late fee of Rs.100/- per day under each act will be levied if the taxpayer don’t file his return within due date which means Rs.200/ day for CGST & SGST. (No late fee for IGST)
As per CBIC notification no late fees will be charged if the aggregate turnover is less than Rs. 2 crore in F.Y 2017-2018 & F.Y 2018-19.
Format & steps to file GSTR-9
Login to GST portal with correct credentials (www.gst.gov.in)
Go to Services-> Returns -> Annual returns. (as shown below)
Select the relevant financial year and click on search
Go to prepare offline in GSTR-9 Tab
Then go to download page and select generate JSON file to download after 20 minutes the json file will be downloaded then extract the file in your PC & open the form
Enter the GSTN Number & financial year
Then go to outward details sheet- 4 & fill the details of outward supply accordingly as shown below:
In next sheet -5 fill the details of outward exempted & nil rated supplies
In sheet -6 fill in the details of ITC (input tax credit) availed as shown below:
In sheet -7 fill in the details of ITC reversed during the year.
In sheet -8 If there is any ITC taken that pertains to previous year then give details here
Sheet -9 will be auto –populated with tax liability with taxes & late fine paid in cash & in credit
If there is any transaction that pertains to previous financial year but disclosed in current year then enter the details of that particular transaction sheet -10 & the differential tax arises due to this then enter the differential tax amount under various head in sheet-14.
In sheet -15 enter the details of any demand of taxes by the GST department of any refund claimed or rejected by the department enter the values here along with interest & penalty.
Enter the details of goods sent on approval basis & not returned till 31st march in sheet -16.
In sheet -17 enter the HSN wise details of outward supply made during the year.
In sheet -18 enter the HSN wise details of inward supply received during the year.
After this check the form once again & validate all the sheet s by clicking in the validate tab in the right hand side top corner of every sheet.
After which upload the file in the GST portal, the status of the form will show submitted.
File the form with EVC/DSC as the case may be & download the filed form in your PC.