What is GSTR-9 annual return?
It is a summary of the outward and inward supplies made/received during the relevant previous year.
Who is liable to file GSTR-9, the annual return?
All taxpayers/taxable persons registered under GST must file their GSTR-9.
Except:
- 1.Casual Taxpayers
- 2. Input Service Distributors
- 3. Non-resident Taxpayers
- 4. Taxpayers under composition scheme (They must file GSTR-9A)
- 5. E-commerce operators (They must file GSTR-9B)
- 6. TDS deductor or TCS collector under Section 51 or Section 52 of the CGST Act.
For FY 17-18 & 18-19, it is mandatory only if turnover exceeds Rs 2 crore.
What is the due date for filing GSTR-9?
- 1. GSTR-9 (GST Annual Return) is to be filed by 31 December of the year following the particular financial year.
- 2. The annual return filing date has been extended several times for financial years 2017- 18 & 2018-19.
- 3. The due date for filing GSTR-9 (Annual Return) for FY 2018-19 is extended to June 30, 2020.
What are the consequences of not filing GSTR-9 In time?
- 1. Late fee for not filing GSTR-9 return on time: Rs100 per day under CGST & Rs 100 per day under SGST i.e. a total of INR 200 per day,
- 2. Maximum late fee: 0.25% of the total turnover of the taxpayer in the respective State or Union Territory.
*As per the decision taken in the 39th GST Council Meeting, for businesses with less than Rs 2 crore aggregate turnover in FY 2017-18 and FY 2018-19, no penalty or a late fee will be imposed for the delayed filing of GSTR-9.
What details are required to be filled in GSTR-9?
The basic details which have to be provided in GSTR-9 are as follows:
- 1.Details of Sales with the breakup of those on which tax is payable and not payable.
- 2.Details of Purchases.
- 3.Tax payable.
- 4. Input Tax Credit available and reversed.
- 5. Details of transactions of sales and Input tax credit in the subsequent year but pertaining to the year for which return is being filed.
- 6. Besides that other details like HSN wise breakup of Sales & Purchases, Summary of Demands & Refunds, etc have to be provided.
- 7. For FY 17-18 & 18-19, some of the sections have been made optional.
Can a “NIL” GSTR-9 return be filed?
Yes, a Nil GSTR-9 can be filed if all the following conditions are satisfied:
- 1. No outward supply.
- 2. No receipt of goods/services.
- 3. No other liability to report.
- 4. Not claimed any credit.
- 5. No refund claimed.
- 6. No demand order received.
- 7. No late fees to be paid.
If the figure has to be reported in any of these, nil return cannot be filed.
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