Introduction:
A lot of scenarios have been observed where taxpayers are confused to file Annual Return or GSTR 9 for a FY . There are a no of situations where taxpayers have to accept the burden of Late Fees, Penalty & Notices for non-compliance or silly mistakes of filling Annual Return or GSTR 9. This article navigates through the intricacies of filling Annual Return or GSTR 9 focusing on applicability, responsibilities, due dates, and consequences for non-compliance.
Applicability: A registered normal taxpayer including SEZ Units/Developers.
Preconditions:
- Taxpayer must have active GSTIN as normal taxpayer at least for a single day in the respective FY.
- Taxpayer has filled all applicable returns.
Exemption to file GSTR 9:
1. Composition taxpayers
2. ISDs
3. Casual taxpayers
4. NR taxpayers
5. Person deducting TDS
6. Person Collecting TCS
Due date of filling GSTR 9:
31st dec of subsequent financial year.
Consequences if GSTR 9 is not filled within Due date:
There is no late fees on IGST. But for CGST/SGST, 3 categories have been designed:
1. Turnover <= 5 Cr.: Late fees per day is Rs. 25/- for each CGST and SGST subject to 0.04% of turnover.
2. 5 Cr < Turnover <= 20 Cr.: Late fees per day is Rs. 50/- for each CGST and SGST subject to 0.04% of turnover.
3. Turnover > 20 Cr.: Late fees per day is Rs. 100/- for each CGST and SGST subject to 0.04% of turnover.
Special Point: Filling of GSTR 9 is optional in case of turnover in a FY not exceeding Rs. 2 Cr. and GSTR 9 is non-revisable.
Steps for Filling GSTR 9:
There are tables in GSTR 9. Starting from table 4 and ending with table 19, GSTR 9 includes 16 tables. Following are their brief discussions:
1. Table 4: Details of Outward, Inward supplies and advances during the FY on which tax is payable.
It includes the total of B2C, B2B, Zero rated/SEZ supplies on payment of tax, Deemed exports, Advances, Inward supplies under RCM and adjusting through Dr/Cr Notes and amendments.
2. Table 5: Details of Outward supplies during the FY on which tax is not payable.
It includes the total of Zero rated/SEZ supplies without payment of tax, supplies on which tax is to be borne under RCM, Exempted, Nil Rated and Non GST Supplies and adjusting through Dr/Cr Notes and amendments.
3. Table 6: Details of ITC availed during the FY.
It includes details of ITC availed including ITC on RCM through GSTR 3B during the FY
4. Table 7: Details of ITC reversed and ineligible ITC for the FY.
It includes details of ITC reversed as per rule 37,39,42 and 43 and u/s 17(5) and other reversals.
5. Table 8: Other ITC related Information.
It includes reconciliation of ITC as per GSTR 2A and GSTR 3B. In Row 5-C, ITC received during the year but availed in next FY within
specified date to be mentioned.
6. Table 9: Details of tax paid as declared in returns filed during the FY.
It includes details of tax paid.
7. Table 10,11,12,13: Details of transactions of the year declared in the return of next FY.
It includes the details of transactions held during the year but disclosed in the returns of next FY.
8. Table 14: Details of differential tax paid on account of table 10 and 11 (Amendments)
9. Table 15: Details of demand during the financial year and refund during the financial year.
It includes details of refund claimed, sanctioned, rejected and pending and demand raised, paid and pending.
10. Table 16: Information related to supplies received from composition taxpayers, deemed supply u/s 143 and goods sent on approval basis.
11. Table 17: HSN wise summary of Outward Supplies.
12. Table 18: HSN wise summary of Inward Supplies.
13. Table 19: Details of late fees payable and paid.
Conclusion: Carefully applying these provisions can help taxpayers avoid notices, penalties, and late fees. Mastering the GSTR 9 filing process is crucial for a smooth Annual Return, ensuring compliance with the Goods and Service Tax Act, 2017.
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