GSTR-9 - 10 Points To Remember.

What is GSTR 9?

The GSTR 9 is a document or statement that has to be filed once a year by a registered taxpayer. This document will contain the details of all supplies made and received under various tax heads (CGST, SGST, and IGST) during the entire year along with turnover and audit details for the same.

The annual GST Return filling consists of different returns forms. Basis of the GST registration type and annual turnover, the businesses need to file the applicable annual GST return form.

• GSTR-9: should be filed by the regular taxpayers who are filing GSTR-1 and GSTR-3B
  
• GSTR-9A: should be filed by the persons registered under composition scheme under GST
  
• GSTR-9C: should be filed by the taxpayers whose annual turnover exceeds INR 2 crores during the financial year. All such taxpayers are also required to get their accounts audited and file a copy of audited annual accounts, reconciliation statements of tax already paid and details of tax payable as per audited accounts, along with this return.

GSTR-9 - 10 Points To Remember

• GSTR 9 is a mandatory annual return to be filed by every taxpayer registered as a normal taxpayer during the financial year. It consists of details regarding the outward and inward supplies made/received during the relevant previous year under different tax heads i.e. CGST, SGST & IGST and HSN codes.

• Form GSTR-9 is required to be filed at the GSTIN level. If a taxpayer has obtained multiple GST registrations, under the same PAN, whether in the same state or different states, he/she is required to file an annual return for each registration separately.

• All registered taxable persons under GST must file GSTR-9. However, the following persons are not required to file GSTR-9:

1. Taxpayers opting Composition Scheme (They are required to file GSTR-9A)
2. Casual Taxable Person
3. Input Service Distributors
4. Non-resident taxable persons
5. Persons paying TDS u/s 51 of the CGST Act
6. Persons collecting TCS u/s 52 of the CGST Act (They are required to file GSTR-9B)

• A NIL GSTR-9 annual return can be filed only if all the below criteria are met for the financial year:

1. No outward supply,
2. No inward supply,
3. No liability of any kind,
4. Not claimed any credit during the financial year,
5. No refund claimed,
6. No demand order received,
7. No late fees to be paid.

• If the status of the person is not registered as on the last day of the financial year but he was registered at any time during the relevant financial year, GSTR-9 must have to be filed.

• All applicable statements in Form GSTR-1 and returns in Form GSTR-3B of the financial year shall have to be filed before filing GSTR-9.\

• It is not compulsory to mention HSN/ SAC codes in GSTR-9 for outward/inward supplies if the turnover is below Rs. 1.5 crores.

•  Form GSTR-9 once filed cannot be revised. It’s recommended to carefully check the values auto-populated in the annual returns, match with books of accounts and accordingly make suitable corrections before filing the return.

• CBIC department has extended the due date of GSTR 9 and GSTR-9C as mentioned below:

1. For FY 2017-18- Due Date 31st January 2020
2. For FY 2018-19- Due Date 31st March 2020

• As per Section 47(2) of Central Goods and Service Tax Act, a person will be fined a penalty of INR 100 per day (CGST) + INR 100 per day (SGST), amounting to a total of INR 200 per day if he/she fails to file GSTR-9 before the due date. However, the maximum amount of penalty a person can be fined is 0.25% of the total turnover.