Master GSTR-9 Filing with Expert Online CA Services India

GSTR-9 return filing is nothing more than consolidating the monthly returns filed during a financial year. Further, one must file GSTR-9 if they were registered at least for a single day in a financial year.

What is the GSTR-9 Annual Return?

GSTR – 9 is an annual return that is to be filed annually by the tax payers who has taken registration under GST.

It includes information about the outward and inward supplies made or received during the applicable financial year, categorized under various tax heads like CGST, SGST, IGST, and HSN codes.
GSTR – 9 return consolidates all the monthly or quarterly returns (GSTR-1, GSTR-2A, GSTR-3B) filed throughout the year. While it may seem complex, the return plays a crucial role in reconciling the data comprehensively, ensuring full transparency in the reporting process.

GSTR-9 Applicability: Who Should File GSTR-9 Annual Return?

Every taxpayers who have taken GST registration shall must file GSTR – 9

Taxpayers opting composition scheme (They have to file GSTR-9A)
Casual Taxable Person
Input service distributors
Non-resident taxable persons
Persons paying TDS under section 51 of CGST Act
person collecting TCS under section 52 of CGST Act

What is GSTR-9 Turnover Limit?

Filing GSTR-9 (the annual return) is optional for businesses with a turnover of up to Rs. 2 crore from FY 2017-18 to FY 2023-24. Each year, the GST department specifies the turnover threshold above which filing GSTR-9 becomes mandatory.

Due Date of GSTR – 9

The deadline for filing GSTR-9 for a financial year is December 31st of the year following that financial year. Therefore, businesses must submit their GSTR-9 for FY 2023-24 by December 31, 2024.

Following are the Details Required to be Filed in GSTR – 9

GSTR-9 is structured into 6 sections and 19 subsections. Each section requests information that can be easily retrieved from your previously filed returns and accounting records.

In general, GSTR-9 requires the reporting of annual sales, distinguishing between taxable and non-taxable transactions.
On the purchase side, businesses must disclose the total value of inward supplies and the input tax credit (ITC) claimed on those purchases.
Additionally, these purchases need to be categorized into inputs, input services, and capital goods.
Finally, details of any ITC that needs to be reversed due to ineligibility are to be enterd.

Late fee and penalty for not filing GSTR-9

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)

For financial years up to 2021-22, if GSTR 9 was not filed by the due date, a late fee of Rs 100 per day per act was charged. This meant that a penalty of Rs 100 under CGST and Rs 100 under SGST would apply for each day of delay, resulting in a total late fee of Rs 200 per day.

However, this late fee was capped at a maximum of 0.25% of the taxpayer’s turnover in the relevant state or union territory, per Act. Notably, no late fee was applicable for delays in filing under IGST.

Furthermore, The CBIC notified vide 07/2023 dated 31st March 2023, a waiver of late fees in excess of Rs.20,000 (i.e., 10,000 each under CGST and SGST Act) for delayed filing of GSTR-9 for years 2017-18 up to 2021-22 if filed between 1st April 2023 to 30th June 2023.

Taxcellent assist you in filing Form GSTR 9 and GSTR 9C in a timely manner