GSTR-9 Annual return under Goods & Services Tax (GST)

GSTR – 9 is an Annual Return to be filed once in a year by the registered taxpayers under GST. It consists of details regarding the supplies made and received during the year under different tax heads i.e. CGST, SGST and IGST.

In 31st meeting of GST Council  which was  held on 22.12. 2018 GST council recommended further extension for filing of GSTR-9 upto 30th June 2019 for financial year 2017-18 and same was extended by CBIC Order No. 03/2018-Central Tax dated 31st December, 2018.

Following are some FAQ’s regarding GSTR – 9 (Annual Return):

1. Why do we need to file GSTR – 9?

GSTR 9 is an annual return to be filed once in a year at by the registered taxpayers under GST. It consists of details regarding the supplies made and received during the year. It consolidates the information furnished in the monthly or quarterly returns during the year.

2. Persons who are Eligible to file GSTR-9?

Every registered taxpayer under GST shall file GSTR – 9 except the following persons:

• Taxpayers who opted for Composition scheme or have Composition scheme in Financial year 2017-18.
• Every Input Tax Distributors (ISD).
• Every Casual Taxable person.
• Every Non-resident taxable person.
• Every Taxable person who opted for TDS under Section 51 or 52.

3. What will the period GSTR-9 and due date for filling GSTR-9?

As of now, GSTR-9 shall be filled for only financial year 2017-18 and the due date of such year is June 30, 2019.

4. What are pre-requirements to file GSTR-9?

All applicable statements in Forms GSTR-1 and returns in Form GSTR 3B of the financial year shall have been filed before filing GSTR-9.

5. What are the ways to file GSTR-9?

    GSTR-9 can be filed online. It can also be prepared on Offline Tool and then  uploaded on the Portal and filed.

6. Can Taxpayer file GSTR-9 as “NIL”?

GSTR-9 can also be filled NIL in following cases, if Taxpayer:

• Not made any outward supply.
• Not received any inward supplies.
• No liability of any kind.
• Not claimed any Credit during the Financial Year.
• Not received any order creating demand.
• Not claimed any refund.

7. What are the information to be filled in GSTR – 9?

• Details of Outward and Inward supplies declared during the financial year 2017-18. This detail must be automated by consolidating summary from all GST returns filed in previous financial year
• Details of Input Tax Credit declared in returns filed during the previous financial year.
• Details of tax paid as declared in returns filed during the previous financial year.
• Particulars of the transactions for the previous financial year.

8. What are things that has to kept in mind while filling GSTR-9?

• Reconciliation of the books of accounts and tax invoices are issued during July 2017 to Mar 2018 is of utmost importance; this should match the turnover declared in the audited financial statements. It is important for the figures in the books of accounts and the invoices to match or else the GST paid will be incorrect. Along with the invoices, debit and credit notes shall also be in agreement with books of accounts.
• Stock transfer between the units/branches of the company should be matched with the books of accounts to avoid any discrepancy in the stock-in-hand balance of the books and that of the GST data
• Matching of e-way bill data with the tax invoices issued during the period is also very necessary. The e-way bill data state-wise should be carefully mapped with the invoices to keep track of the goods transported and GST paid thereon
• Taxpayers should ensure that all the purchase & other service invoices are accounted for in the books of accounts and input tax credit has been duly availed. Any disparity between the input tax credit claimed and tax paid on purchases will result in an incorrect claim of ITC in GST returns
• Once the purchase invoices are in agreement with the books of accounts, the taxpayers should ensure that the purchase data is duly uploaded by the suppliers; this data will be reflected in the GSTR-2A form.

• Before going forward with filing the annual returns, the taxpayers should reconcile all the monthly or quarterly GST returns with the books of accounts. The taxable, exempted and non-GST turnover should be carefully matched. Any difference should be immediately corrected.

• Ensure that the invoices on which input tax credit has been claimed should be paid within 180 days to the suppliers. If not, the credit availed on the same will be reversed and the taxpayers will be liable to pay such amount along with the interest and penalty if any.

9. Consequences for late filling of GSTR – 9?

Late fees for not filing the GSTR 9 within the due date is Rs. 100 per day up to a maximum of an amount calculated at a quarter percent of the taxpayer turnover in the state or union territory. Thus it is Rs 100 under CGST & 100 under SGST, the total penalty is Rs 200 per day. There is no late fee on IGST.