- What is GSTR-9?
- When to file GSTR-9?
- Who should file GSTR-9?
- Why is GSTR-9 important?
- What is the penalty for not filing GSTR-9 within the due date?
- GSTR 9 Types
- How to file GSTR-9?
What is GSTR 9?
GSTR 9 is an annual return. This is a compilation return which includes all the business transactions done for a particular Financial Year. GSTR-9 consists of details about supplies made and received during the year under different tax heads including, CGST, SGST, and IGST. It consolidates the information furnished in monthly or quarterly returns during the particular year.
When to file GSTR 9?
- The GSTR-9 for a particular month can be filed upon the completion of that month.
- The last day for filing this return is before the 10th of the following month. (E.g.: If you are submitting the GSTR-9 for March 2020 then, you have to register it before April 10, 2020.)
Who should file GSTR-9?
To file the GSTR-9, the person must be:
- A registered taxpayer under GST with a 15 digit PAN based GSTIN.
- Aggregate turnover of the business should be higher than 20 lakh rupees.
- The return applies to all the registered taxpayers under GST, excluding those who have a Unique Identification Number or UIN and non-resident taxpayers.
- One needs to capture the details of all the transactions at the invoice level for an entire year. It includes intra-state and inter-state transactions, B2B, and B2C transactions. These operations are associated with exempted items, non-GST supplies, and the stock transfers between the business locations that are located across different states.
Why is GSTR-9 important?
GSTR 9 shows details of the supplies effected through an e-commerce platform, and the amount of TCS collected on these supplies. In the case of the TCS being applicable, the supplier can take an input credit of such TCS deducted by an e-commerce operator after filing the GSTR-9 by the e-commerce operator. The amount of such TCS will then be reflected in Part C of the Form GSTR-2A of the supplier.
For instance, consider that Rahul Enterprises supplies garments worth Rs 20,000 through an online platform like Amazon, which is the e-commerce operator will deduct a TCS amount @ 1% and deposit Rs 200 with Government. The amount of Rs 200 will then get reflected in GSTR-2A of Rahul Enterprises after filing of GSTR-9 by Amazon.
What is the penalty for not filing GSTR-9 within the due date?
According to the 37th GST Council Meeting (1), GSTR 9, for the financial year 2019-2020, must be filed by November 30, 2020. The last day for filing this return is before December 31 of the following year.
GSTR 9 Types
There are mainly four types of annual returns under the GST law:
- GSTR 9 must be filed by a regular and registered, taxpayers who once file GSTR 1 and GSTR 3B.
- GSTR 9A must be filed by registered and composite dealers (or composition scheme).
- GSTR 9B must be filed by the e-commerce operators who collect tax at the source and have filed GSTR 8 for a fiscal year.
- GSTR 9C is an audit form that must be filed by the taxpayers whose aggregate turnover exceeds Rs2 crores in the financial year and are liable to get their annual reports audited.
How to file a GSTR 9?
The GSTR 9 format collects the broad range of information about taxpayer’s inward and outward supplies, ITC, tax paid, and many other factors affecting tax liability for a year. Let’s take a look at what people need to enter in the different fields in each of the 6 parts:
Part 1: Basic details:
The first part of GSTR 9 format asks for the necessary information: financial year, GSTIN, legal name, and trade name.
Part 2: Details of the outward and inward supplies declared during a financial year:
The second part of GSTR9 format is split into two sections to collect information about the different types of transactions:
In Section 4, the users are required to fill in the details of advances, purchases, and sales supplies on which the tax is payable. Enter taxable value, CGST, SGST, IGST, and cess value for the following:
Section 5 asks for details of the sales and supplies for which tax is not payable, as declared in returns filed during a financial year. As in the previous section, where users are required to fill out details related to a taxable value, the central and state tax, integrated tax, and the less value.
Part 3: Details of the ITC as declared in returns filed during a fiscal year:
The third part of GSTR-9 form is split into the three questions that ask about ITC balance.
In Section 6, users are required to enter details of ITC that they have availed, as declared in returns filed during any financial year.
In Section 7, users are asked to fill in the information regarding reversed ITC and ineligible ITC on central and state tax, integrated tax, and the less value.
In Section 8, users are asked to provide other ITC-related information.
Part 4- Details of tax paid as declared in the returns filed during a financial year
In this part of the form, users can specify all the details regarding the fee that they have paid and declared in the returns filed during a financial year.
Part 5: Particulars of transactions for a previous FY declared in returns of April to September of the current FY or up to date of filing of an annual return of the previous FY.
Section 10 is where users can mention all the details related to the transactions that occurred during the previous financial year.
Part 6: Other Information
The final part of the GSTR 9 form collects any information that hasn’t been provided earlier, such as the demands and refunds, certain particular kinds of supplies, HSN’s, and late fees.
In Section 15, enter the information about demands and refunds by filling in the central and state tax, integrated tax, cess value, penalty, interest, and any late fee applicable for the following:
Section 16 is for the information on supplies received from composition taxpayers, deemed supplies, and the goods sent on an approval basis. Here, fill in taxable value, the central and state tax, integrated tax, and cess value for Supplies received from composition taxpayers and Goods that have been sent on the approval basis, but have not been returned.
Sections 17 and 18 are for listing HSN-wise details for both the sales and purchase supplies, along with their respective tax details and HSN codes.
Section 19 is for the details of payable and paid late fees related to central and state taxes.