It is an annual return which is to be filled by every registered person. It consists of Every transaction of particular financial year whether the transaction is related to supply made or received during the year under different tax heads like CGST, SGST & IGST.
GSTR-9 is to be optional for the business whose turnover is upto Rs. 2 Crore for FY 17-18 & 2018-19.
Different Types of GSTR-9
GSTR-9– This Return is Filled by Regular Tax Payer.
GSTR-9A – This Return is Filled by the Person Registered under Composition Scheme.
GSTR-9B – This Return is Filled by E-Commerce Operator who had filled GSTR-8 during the year.
GSTR-9C – This Reconciliation Return is filed by CA/CMA for Registered person having Turnover more than 2 Crore.
All such taxpayers are also required to get their accounts audited and file a copy of audited annual accounts and reconciliation statement of tax already paid and tax payable as per audited accounts along with GSTR 9C.
Overview of Details Required for GSTR-9
Part-1 It Require Details of Tax Payer.It is auto-filled.
Part-2 Outward & Inward Supply declared during the F.Y . This Detail is summarised from all GST Return Filled in the Previous F.Y.
Part-3 Details of ITC declared in return filed in Previous F.Y.
Part-4 Information of tax Paid declared in return filed in Previous F.Y.
Part-5 All the details of the transaction of Previous F.Y mentioned in the Returns from april to Sep of Current F.Y or up to the date of GSTR-9 of Previous FY whichever is earlier.So, the summary of amendment or omission entries belongs to previous Financial Year but reported in Current Financial Year would be segregated and declared in this part.
Part-6 Demands and refunds of GST,
Penalty on Late filing of GSTR-9
A Total fine of Rs.200 per day is imposed on late filing of GSTR-9 from the Due date on CGST & SGST out of which Rs. 100 is imposed on CGST & Rs 100 on SGST. There is no penalty for late filing of IGST yet.Maximum penalty imposed on taxpayer is up to the extent of 0.25% of taxpayer’s Turnover.