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GST Annual Return Filing (GSTR-9)

  • Article 366: Addition of Important Definitions
  • Article 269A: Levy and Collection of GST on Inter-State Supply
  • Article 279A: GST Council
  • Article 286: Restrictions on Tax Imposition
  • Article 366: Addition of Important Definitions

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GSTR-9 is the annual return that must be filed yearly by taxpayers registered under GST. It includes details of:

  • Outward and inward supplies made/received during the relevant financial year.
  • Tax liability across different heads – CGST, SGST, IGST, Cess.
  • HSN codes related to transactions.
  • Consolidated data from monthly/quarterly returns (GSTR-1, GSTR-2A, GSTR-2B, and GSTR-3B).

 

Who Needs to File GSTR-9?

  • Mandatory for businesses with an annual turnover above ₹2 crore.
  • Optional for businesses with a turnover up to ₹2 crore from FY 2017-18 to FY 2023-24 (as per annual notifications by the GST department).

Steps for GSTR-9 Filing

1. Ensure Completion of Monthly Returns

  • Finish filing GSTR-1 and GSTR-3B for the financial year 2023-24.

 

2. Reconciliation of ITC & Sales

  • Conduct an in-depth reconciliation of Input Tax Credit (ITC) and sales transactions from the start of the financial year to date.

 

3. Communicate with Vendors & Customers

  • Identify any mismatches in reconciliations and communicate with vendors and customers for corrections.

 

4. Data Entry & Disclosures

  • Enter disclosures related to FY 2023-24 in the government’s offline tool or use a cloud-based GST software like ClearTax for automated data filling.

 

5. Payment of Any Pending Tax (DRC-03)

  • If any shortfall in tax payment or excess ITC claims is identified, pay the difference via DRC-03.

 

6. Final Submission on the GST Portal

  • File GSTR-9 on the GST portal before the due date to ensure compliance.

Why is GSTR-9 Filing Important?

  • Ensures compliance with GST regulations.
  • Helps businesses avoid penalties and interest.
  • Provides a consolidated view of the financial year’s tax liabilities.

Frequently Asked Question

1. What are the different types of GSTR-9?

  • GSTR-9 – For regular GST taxpayers under Normal Scheme.
  • GSTR-9A – For Composition Scheme taxpayers (now waived from FY 2019-20 onwards).
  • GSTR-9C – GST audit & reconciliation statement (mandatory if turnover > ₹5 crore).

2. What is the due date for filing GSTR-9?

  • 31st December following the financial year (unless extended by the government).
  • Example: For FY 2022-23, the due date is 31st December 2023.

3. Is it mandatory to file GSTR-9?

  • Yes, for businesses with turnover above ₹2 crore.
  • No, for taxpayers with turnover below ₹2 crore (Optional).

4. What happens if GSTR-9 is not filed on time?

  • Late Fee: ₹200 per day (₹100 CGST + ₹100 SGST), up to 0.50% of turnover.
  • No ITC can be claimed after the due date.
  • Penalty or legal action for continuous non-filing.

5. Can GSTR-9 be revised after submission?

  • No, GSTR-9 cannot be revised once filed. Ensure accuracy before submission.

5. What is the penalty for incorrect GSTR-9 filing?

  • Interest at 18% per annum for underpaid tax.
  • Late fee as per GST rules for incorrect reporting.
  • Penalty for tax evasion (if discrepancies are found in an audit).

6. What is the difference between GSTR-9 & GSTR-9C?

Feature GSTR-9 GSTR-9C
Who files it? All regular taxpayers Businesses with turnover > ₹5 crore
Purpose Annual return Reconciliation statement & GST audit
Mandatory? Yes, if turnover > ₹2 crore Yes, if turnover > ₹5 crore
Certified by CA? No Yes, Chartered Accountant required