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GSTR 9 :Annual Return Filing, Format, Eligibility & Rules

The Indian tax system has been transformed by the Goods and Services Tax (GST) which has substituted multiple indirect taxes with one single unified tax. As part of the GST regime, businesses are supposed to file an annual return called GSTR-9. In this comprehensive guide, we will explore GSTR-9 in much detail discussing topics such as its filing process, format, eligibility criteria and other important rules. So, let’s begin!

What is GSTR-9?

Through the introduction of the Goods and Services Taxes (GST), India’s tax system has been reformed thereby replacing multiple indirect taxes with a single unified tax. GSTR-9 is a yearly return that companies must fill out under GST. This guide will discuss GSTR-9 extensively, including its filing process, format, eligibility criteria and other important rules. Well then, let us start!

Eligibility for Filing GSTR-9

All regular taxpayers who have registered under the GST Act need to file GSTR-9. This means any person, organization or business with a Goods and Services Tax Identification Number (GSTIN). Even if a taxpayer’s registration is revoked during the year, they must still submit GSTR-9.

Filing GSTR-9: Entity Level or GSTIN Level?

About filing GSTR-9, one should know whether it must be filed at the entity level or the GSTIN level. As per instructions, GSTR-9 must be filed at the GSTIN level and thus; in case one taxpayer has multiple registrations under the same PAN card, for each of these registrations they will have to file a separate annual return. This is applicable for both registrations within state or different states.

Reconciliation of Input GST with GSTR-2A

It is vital to reconcile input GST with GSTR-2A for a given financial year before filing GSTR-9. GSTR-2A is an automatically populated form that lists down all the supplies made to a taxpayer by his suppliers. Comparing input tax credit booked in the books of accounts with the details given in GSTR-2A helps taxpayers ensure that their annual return is correct.

Filing GSTR-9 After Receiving Cancellation Order

The financial year during which a taxpayer’s registration is cancelled and they receive an order of cancellation, they still need to file GSTR-9. Under the CGST Act 2017, section 44(1), every registered person shall submit GSTR-9. Consequently, if the taxpayer’s status was not registered as of March 31st, he/she must still file GSTR-9 if they were registered at any time between July 2017 and March 2018.

Due Date, Late Fee, and Penalty

The reason is that the GSTR-9 must be filed before due date to avoid any late fee or penalty. The time for filing GSTR-9 is usually on 31st December of the next financial year. However, it is advisable to refer to the official notifications or guidelines issued by the GST authorities for confirmation of the exact due date. A late fee and a penalty can be charged in case GSTR-9 is not filed on time, which will vary depending on the turnover of the taxpayer.

GSTR-9 Format

The GSTR-9 comprises six different parts that show information of the taxpayer’s financial transactions. Let us now examine each part and the information they request for.

1. Part-I: Basic Details

In the first section, the taxpayer should offer basic data such as financial year, GSTIN, legal name, trade name (if any), and the period of registration during the financial year.

2. Part-II: Details of Outward and Inward Supplies

Throughout this section, taxpayers must give outward supplies and inward supplies details. It indicates taxable supplies, zero-rated supplies, exempted supplies, non-GST supplies. Moreover, it also requires a declaration on advances received, advances adjusted; Net amount of advance.

3. Part-III: Details of Input Tax Credit (ITC)

In this section Part III is required to provide input tax credit availed during a fiscal year which includes ITC availed on inward supplies; ITC availed on imports and ITC reversed.

4. Part-IV: Details of Tax Paid

Lastly to be done in this section is to enter tax paid during the fiscal year such as central tax, state/UT tax integrated tax and cess paid.

5. Part-V: Particulars of the Transactions for the Previous Financial Year

In this part, a taxpayer has to provide transaction details of last financial year but reported in the current financial year. This includes amendments in outward supplies, amendments in inward supplies and any other amendment.

6. Part-VI: Other Information

This part is meant for any other information that a taxpayer may wish to provide. This may include details of demands and refunds, HSN-wise summary of outward supplies or late fees and penalty paid.

Penalties for Non-Compliance

Non-compliance of the GSTR-9 provisions would call for penalties among other things. A less fee is charged where GSTR-9 has not been filed within due date by a taxpayer. Equally, penalties are applicable in case incorrect or false information is provided under GST act while filing GSTR-9. It is important to ensure that all information provided in GSTR-9 is accurate and complete so as to avoid penalties or legal implications.

Conclusion

GSTR 9 must be filed by all registered taxpayers under GST regime as a mandatory requirement. It provides complete picture of taxpayers’ financial transactions and ensures compliance with the present GST laws. By understanding the eligibility criteria, format, and rules associated with GSTR-9, taxpayers can fulfill their annual obligations.

author

The Tax Heaven

Mr.Vishwas Agarwal✍📊, a seasoned Chartered Accountant 📈💼 and the co-founder & CEO of THE TAX HEAVEN, brings 10 years of expertise in financial management and taxation. Specializing in ITR filing 📑🗃, GST returns 📈💼, and income tax advisory. He offers astute financial guidance and compliance solutions to individuals and businesses alike. Their passion for simplifying complex financial concepts into actionable insights empowers readers with valuable knowledge for informed decision-making. Through insightful blog content, he aims to demystify financial complexities, offering practical advice and tips to navigate the intricate world of finance and taxation.

Frequently Asked Questions

GSTR 9 is the annual return that needs to be filed by registered taxpayers under the Goods and Services Tax (GST) regime.

All regular taxpayers registered under GST, including businesses and entities, need to file GSTR 9.

GSTR 9 is divided into six parts and requires taxpayers to provide details of their outward and inward supplies, input tax credit availed, tax liability, and other relevant information for the entire financial year.

Any entity or business registered under GST and subject to filing regular returns during the financial year is eligible to file GSTR 9.

Yes, certain categories of taxpayers such as composition dealers and Input Service Distributors (ISDs) are exempted from filing GSTR 9.

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