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 30th 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