GST Annual Return

January 03, 2024

What is GSTR 9?

GSTR-9 is an annual return required to be filed on or before 31st December following the end of such financial year. As per Section 44 (1), every registered person may furnish an annual return filing electronically. However, the following persons are not required to file an annual return:

  • Tax payer opting composition scheme (They file GSTR 9A)
  • Input Service Distributor (ISD)
  • A casual taxable person
  • A non-resident taxable person
  • A person paying tax under section 51(TDS) or section 52(TCS)

Types of GSTR 9

Type

Details
GSTR 9               Every Registered person other than those required to file GSTR 9A & GSTR 9B.
GSTR 9A Every person registered under Composition scheme.
GSTR 9B

Every e-commerce operator required to collect tax at source (TCS) under sec 52. GSTR 9B is not required to be filled for FY 17-18 as the provisions for the same are applicable from 1st October 2018.

Applicability of various annual returns

  • Nil GST Return Where a person is registered under GST but no transactions during the year is required to file NIL Annual return.
  • Where a person has cancelled his registration during the financial year, is required to file
    Annual return for the period for which he was registered under GST.
  • Where a person has opted in and out of composition scheme during the same financial
    is required to file both GSTR 9 and GSTR 9A for the respective periods as applicable.

Source of Information for GSTR 9

  • GSTR 9 is basically a compilation of GSTR 1 return filing and GSTR 3B filing
  • Outward supplies and tax payable are derived from GSTR 1 whereas input tax credit and
    tax paid information is derived from GSTR 3B
  • Purchase data is updated from GSTR 2A
  • Any additional liability identified upon filing of annual return may be paid before filing of
    annual return through Form DRC 03

Thus, here we understand that data as per GSTR 1 and GSTR 3B may cross verify. Also purchases data (input tax credit availed) as per GSTR 3B, as per GSTR 2A and as per books of accounts should cross verify.

Things to consider for GSTR 9 Annual return

  • It is mandatory to file GSTR 1 and GSTR 3B before filing GSTR 9 Annual return
  • Any additional liability not declared in GSTR 1 and GSTR 3B may be declared here
  • Any Input tax credit unclaimed during the FY 17-18 cannot be claimed through GSTR 9
  • HSN summary for input supplies only for major inward supplies i.e. such supplies should account for at least 10% of total inward supplies

Key Requirements for GSTR 9 Annual Return

  • Details with respect to taxable value, description of supply, tax, HSN code, ITC with respect to inward supplies
  • Details of non-GST transactions
  • Details on on-going adjudication, litigation & refund claims.

Late fees for GSTR 9 (Delayed filing)

As per the penalty provisions of the GSTR 9 annual return form, the tax payer has to pay ₹.200 per day as penalty of which ₹.100 consists of SGST and ₹.100 for CGST.



Note: Above details are meant for generalized situations and shall not be used as a legal basis for any particular situation readers may have. We do provide tax consultations for specific scenarios and can be reached through our contact us form.



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