GSTR 9 also called annual return of GST is a tax return that contains details related to the supplies you have made and received during the year. In this article, we will answer the below important questions on GSTR 9.
· What is GSTR 9?
· Types of GSTR 9?
· Due dates of filing GSTR 9?
· Penalty for nonfiling?
WHAT IS GSTR 9?
GSTR 9 is an annual return that every registered taxpayer under GST is required to mandatorily file each year. It consists of details of outward and inward supplies during the relevant previous year under different tax heads CGST, SGST & IGST, and HSN codes. GSTR 9 is filed for each GSTIN separately. Say if you have taken multiple GST of the same PAN then you are supposed to file GSTR 9 for each registration.
It is a fusion of all the monthly as well as quarterly returns (GSTR-1, GSTR-2A, GSTR-3B) filed in that financial year. Even though it may be a bit technical that needs the help of a professional but this return helps in proper reconciliation of data for 100% transparency disclosures.
As per the notification issued by the Government, GSTR-9 filing for businesses with turnover up to Rs 2 crore was made optional for FY 17-18 and FY 18-19*.
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TYPES OF GSTR 9
|FORM||TO BE FILED BY|
|GSTR 9||Regular taxpayers filing GSTR 1 and GSTR 3B|
|GSTR 9A||Those who have opted for composition scheme|
|GSTR 9B||E-commerce businesses filing GSTR 8|
|GSTR 9C||Taxpayers with turnover of more than 2 crores|
NOTE: GSTR 9C for FY 2018-19 has been exempted for businesses with an average turnover of INR 5 crore. [ GST 39TH COUNCIL MEETING ]
DUE DATES OF FILING GSTR 9
The Government announced the due date to file GSTR 9 & GSTR 9C form i.e. 30th September 2020 for the FY 2018-19 through notification number 41/2020.
PENALTY FOR NON-FILING GSTR 9
The late fees on non filing of return GSTR 9 within the due date is Rs 100 per day. That means late fees of Rs 100 under CGST and Rs 100 under SGST will be applicable in case of delay.
So the total liability is Rs 200 per day for the default in nonfiling. There is a cap on the maximum late fee- a maximum of 0.25% of the taxpayer’s turnover in the relevant state or union territory. However, there is no late fee on IGST which has been specified .
NOTE: Late filing penalty has been waived for the Annual Return (GSTR 9) and the Reconciliation Statement (GSTR 9C) for the financial year 2017-18 and 2018-19 for the taxpayers having the turnover less than INR 2 crore.
HOW TO FILE GSTR 9?
If you know GST rules well, you can follow guidelines of Government or maybe take some software such as Zoho and file GSTR 9 Or you can simply Find CA Services Online and appoint any CA who can help you file GSTR 9 at an affordable cost.
You can read GSTR 9C in detail in CAonWeb Blog.