GSTR 9 Annual Return Tab is available on GSTN Portal for filing Annual Return

Form GSTR 9 for the annual return is now active on the GSTN portal. Every registered taxpayer on GST is required to file GSTR 9 – the form for the annual return for FY 2017-18 (July 2017 to March 2018) on or before 30^th June 2019. It consolidates the information furnished in the monthly or quarterly returns during the year.

All taxpayers except the following are required to file GSTR 9 –

• Input service distributors
• Non-resident taxable persons
• Taxpayers opting Composition scheme as they must file GSTR-9A
• Casual Taxable Person
• Persons paying TDS under section 51 of GST Act.

Some important factors to be considered –

• GSTR 9 is required to be filed for each GST registration individually
• GSTR 9 once filed, cannot be revised
• GSTR 9 is required to be filed even if the turnover was NIL
• Computation of ITC based on GSTR-2A has been auto-populated by the System based on GSTR-1 filed by vendors up to 29/01/2019 .
• It’s not clear yet as to how to avail missing credits in GSTR-2A

Penalty for non-filing GSTR 9

• Late fees for not filing the GSTR 9 within the due date is Rs. 100 per day per act (effectively Rs. 200 per day) up to a maximum of an amount calculated at a 0.25% of the taxpayer turnover in the state or union territory.

Trust you’ll find this update timely and useful.

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CA Prasad Bhalerao

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