GST Annual Return ( GSTR 9)
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Deliverables
GST Return Copy
GST Workings
Challan copy in case of Payment made
Compliance Report
Timeline
5 Days
(from receipt of all documents)
What is GSTR 9 Return?
GSTR-9 is an annual GST return return filed by 31st December of the year following the particular financial year. GSTR-9 return contains sales, purchases and GST charged and paid on the same during the financial year. Registered taxpayers under GST must file GSTR-9 if their annual turnover limit exceeds Rs. 2 crores.
1. It consists of details regarding the outward and inward supplies made/received during the relevant financial year under different tax heads i.e. CGST, SGST & IGST along with the cess and HSN codes.
2. It is a consolidation of all the monthly/quarterly returns (GSTR-1, GSTR-2A, GSTR-2B, and GSTR-3B) filed in that year. Though complex, this return helps in extensive reconciliation of data for 100% transparent disclosures.
GSTR 9 applicability: Who should file GSTR-9 annual return?
All GST registered taxpayers must file their GSTR 9. However, the following are NOT required to file GSTR 9:
1. Taxpayers opting composition scheme (They must file GSTR-9A)
2. Casual Taxable Person
3. Input service distributors
4. Non-resident taxable persons
5. Persons paying TDS under section 51 of CGST Act
6. person collecting TCS under section 52 of CGST Act
What is GSTR-9 turnover limit?
GSTR-9 (Annual Return) is optional for businesses with turnover up to Rs.2 crore since FY 17-18 onwards till FY 2023-24. Every year, the GST department notifies the threshold turnover limit above which it is mandatory to file GSTR-9.
What is GSTR 9 due date?
GSTR 9 last date for FY 2023-24 is 31st December 2024. GST annual return due date or GSTR-9 due date is 31st of December of next year for a particular financial year.
GSTR-9 types
The CGST Rule 80 covers the provisions pertaining to the annual return forms under the GST law. Annual returns in GST are of four types as follows-
1. GSTR 9- Regular GST taxpayers who file GSTR 1 and GSTR 3B must file this return, especially if they cross the GST annual return limit of Rs.2 crore turnover during the financial year.
2. GSTR 9A- Composition taxable persons had to file this annual return until FY 2018-19. However, from FY 2019-20 onwards, it is replaced with GSTR-4 annual return due for every financial year on 30th April of the following year.
3. GSTR 9B- This annual return is applicable under the GST law to e-commerce operators collecting tax TCS (tax at source) and filing GSTR 8 each month. However, the filing of this annual return is put on hold.
4. GSTR 9C- Annual Reconciliation Statement is an audit form that must be self certified and filed by all taxpayers whose aggregate turnover exceeds Rs.5 crores in a financial year.
Late fee and penalty for not filing GSTR-9
Department categorised taxpayers based on the turnover for imposing late fee for late filing of GSTR-9. It also mentioned that below late fee attracts from FY 2022-23 onwards:
|
S.No
|
Turnover limit
|
Late fee per day
|
Maximum late fee
|
|---|---|---|---|
|
1
|
Up to Rs.5 crore
|
Rs.50 (Rs.25 each under CGST and SGST Act)
|
0.04% of turnover in state/UT (0.02% each under CGST and SGST Act)
|
|
2
|
More than Rs.5 crore and less than Rs.20 crore
|
Rs.100 (Rs.50 each under CGST and SGST Act)
|
0.04% of turnover in state/UT (0.02% each under CGST and SGST Act)
|
|
3
|
More than Rs.20 crore
|
Rs.200 (Rs.100 each under CGST and SGST Act)
|
0.50% of turnover in state/UT (0.25% each under CGST and SGST Act)
|
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FAQs
No, once you have filed GSTR-9, you can not make any revisions.
