The yearly return filed by the registered taxpayers in GST, including those listed under composition levy scheme, is known as GSTR-9.
It entails features about the supplies made and received during the year underneath different tax heads i.e. CGST, SGST, and IGST. It associates the information provided in the monthly/quarterly returns during the year.
GST Annual Return Applicable To:
Every registered person together with individuals registered under composition levy scheme shall furnish an Annual Return in GSTR-9.
However, the following persons are not required to file GSTR-9
- Input service distributors
- Persons paying Tax under Section 51 (Tax Deducted at Source)
- Persons paying Tax under Section 52 (Collection of Tax at Source)
- Casual Taxable Person
- Non-resident taxable persons.
|Sr. No.||Form GSTR||Description|
|1||GSTR 9||:||It is to be filed by the Regular Taxpayers who are filing GSTR 1, GSTR 2 & GSTR 3|
|2||GSTR 9A||:||To be filed by the persons registered under Composition Scheme under GST.|
|3||GSTR 9B||:||It is to be filed by the e-commerce operators who have filed GSTR 8 during the financial year.|
|4||GSTR 9C||:||It is an exact return for the taxpayers whose annual revenue exceeds more than Rs 2 crores during the financial year
All those kind of taxpayers are also obligated to get their financial records audited and shall file a copy of audited annual accounts and settlement statement of tax already paid and tax payable as per audited accounts end to end with GSTR 9C.
Due Date for GSTR-9
GSTR-9 will be filed on or before 31st December of the succeeding fiscal year.
For example for FY 2017-18, the due date for filing GSTR-9 is 31st December 2018.
Information filed for GSTR-9 return
The following information is probably to be filed in GSTR-9A return:
- The total value of purchases on which ITC availed (inter-State)
- The total value of purchases on which ITC availed (intra-State)
- The total value of purchases on which ITC availed (Imports)
- Other Purchases on which no ITC was utilized
- Sales Returns
- Other Expenditure (Expenditure other than purchases)
- The total value of supplies on which GST paid (inter-State Supplies)
- The total value of supplies on which GST Paid (intra-State Goods)
- The total value of supplies on which GST Paid (Exports)
- The total value of supplies on which no GST Paid (Exports)
- Value of Other Supplies on which no GST paid
- Purchase Returns
- Other Income (Income other than from supplies)
- Return reconciliation Statement
- Arrears (Audit/Assessment etc.)
- Turnover Details
- Profit as Per the Profit and Loss Statement
- Gross Profit
- Profit after Tax
- Net Profit
- Details of Statutory Audit
Consequences for late filing of GSTR-9 return
If the GSTR-9 is not filed on or before due date then a penalty will be applicable as follows:
|Sr. No.||Under Act||Penalty Applicable|
|1||CGST||:||Rs. 100 per Day|
|2||SGST||:||Rs. 100 per Day|
|Total||:||Rs. 200 per Day|
|However, the maximum of such consequence will be 0.25% of the Total Turnover in the respective State or Union Territory|
Should the GSTR-9 return be audited?
Yes. Regular taxpayers registered under GST having an annual aggregate turnover of over Rs.2 crores throughout the financial year are required to file the GSTR-9 return with audited accounts. GSTR-9 accounts can be audited by a practicing Chartered Accountant or Cost Accountant.
Details to be provided in GSTR-9
GSTR 9 has a total of 9 sections.
- Unique GSTIN: For every taxpayer, PAN-based 15-digit Goods and Services Taxpayer Identification Number will be allocated. GSTIN of the taxpayer will be auto-populated at the period of return filing.
- Legal name of the registered individual: Title of the taxpayer will be auto-populated at the time of logging into the common GST Portal.
- Whether responsible to Statutory Audit: Statutory audit is obligatory in case of companies and in case of individual/HUF if turnover exceeds Rs 1 crore.
- Date of statutory Audit: Mention the date of the statutory audit.
- 4. Auditors: Mention the name of the auditors of the individual who has audited the accounts of the individual.
- Details of Expenditure: Specifics of goods and services purchased during the fiscal year must be provided. Such evidence is required to be delivered along with the HSN/ SAC codes applicable and the taxable value of such goods and services. These details are mentioned in GSTR-2. This information is separated into following heads: a) A total value of purchases on which ITC availed (inter-State)
b) A total value of purchases on which ITC availed (intra-State)
c) A total value of purchases on which ITC availed (Imports)
d) Other Purchases on which no ITC availed
e) Sales Return
f) Other Expenditure (Expenditure other than purchases)Below are details to be filed in the GSTR-9.
- Details of earnings
Details of all supplies and sales completed during the year are the requirement to be provided here. Such details are also mentioned in GSTR-1. These categories are as follows:
a) The total value of supplies on which GST paid (inter-State Supplies): It consists of the supplies made in other states on which IGST is paid.
b) The total value of supplies on which GST Paid (intrastate Supplies): It comprises supplies within the state on which SGST and CGST are paid.
c) Total value of supplies on which GST Paid (Exports):It comprises export of goods and services made during the year on which IGST is paid
d) Total value of supplies on which no GST Paid (Exports): It contains export of goods and services made during the year on which no IGST is paid
e) Value of Additional Supplies on which no GST paid: It includes the information on the supply of goods and services completed during the year without any GST paid on it. I.e. CGST and SGST in case of intra supply and IGST in case of interstate supply.
f) Purchase Returns: Detail of purchase return accomplished during the year is to be provided here.
g) Added Income (Income other than from supplies): Any other income made during the year other than supplies mentioned in above points should be mentioned here.
Return Reconciliation Statement
After providing all the material, the system will auto-reconcile the transactions d will determine tax liability payable in contradiction of the tax actually paid. The system will also fill the amount of tax difference, interest, penalty if any.
If there is any other payable the same will be auto-populated here. It may include amount overdue or any liability because of the valuation.
Profit, as per the Profit and Loss Statement
In this section, mention the breakup of gross-profit, profit after tax and net profit.
After all the particulars are fitted out correctly, the taxpayers are required to sign digitally either through a digital signature certificate (DSC) or Aadhar based signature verification to validate the return.
GSTR-9 form, similar with all other GSTR forms, cannot be revised after it is submitted. Any errors or slip-ups in the form can be revised while filing monthly tax returns.