Importance and Guidance to File Annual Return GSTR 9 Form
About Annual GSTR 9 Form
- Inward supplies of the business
- Outward supplies
- Amount of taxes paid
- Details of input tax credit
- Claimed tax refunds
- GSTR 9 – Filing GSTR 9 Annual Form via Gen GST software can also be considered for every taxpayer who is filing GSTR 3B and GSTR 1.
- GSTR 9A – Filing Form 9A is mandatory for taxpayers registered under the Composition Scheme of the government.
- GSTR 9B – GSTR 9B is a mandatory compliance for those owning an e-commerce business and who have already filed GSTR 8 for the same year. Such dealers are also the deductors who deduct TDS.
- GSTR 9C – Taxpayers with gross earnings beyond Rs. 2 Crores per year are required to file GSTR 9C. It is mandatory for such individuals to get their annual accounts audited and furnish the copy of audited financial reports to legal authorities.
Who Needs to File GSTR 9?GSTR 9 is the annual return compliance mandatory for all registered taxpayers. However, some are exempt from the annual compliance of GSTR 9. Here is the list of those taxpayers:
- Casual taxpayers - A GST registered dealer who doesn’t have a fixed place of business.
- Composition Taxpayers (they are required to submit 9A)
- Taxpayers paying TDS
- Non-Resident Indians
- Input Service Distributors
Points to Remember Before Filing GSTR 9Accurate return filing is a must for every taxpayer. Here are some points to remember before filing GSTR 9:
- For every registered taxpayer who is filing GSTR 9, it is mandatory to have a PAN.
- GSTR 9 is filed by those who have an annual turnover of more than Rs. 20 Lakhs.
- Filing Form GSTR 1 and GSTR 3B is important before filing GSTR 9 for the same financial year.
- Records of the entire year’s financial transactions are required to be saved in the invoice form. Details include inter-state and intra-state transactions and non-GST supplies. The nature of supplies (B2B or B2C) and other supplies have to be specified in the invoices.
To be noted: Re-confirm all the details for accuracy before submitting form GSTR 9 as no changes can be done once the submit button is clicked by the filer. Keep in hand all the relevant documents like account books, financial reports, etc. before you start filling the details in the form. Ask for expert assistance for the process. Make sure the form is furnished before the due date to avoid penalties. The current due date to file GSTR 9 and GSTR 9C 31st December 2019. Delay in filing the form will invite CGST and STST charges together (100 + 100) total of Rs. 200 per day.
Guidance to File Annual Return GSTR 9 OnlineStated Below are the Steps to Accurately File GSTR 9:
- Switch to the government’s official link gst.gov.in and insert your login credentials. Select Annual Returns on Returns dashboard.
- From the ‘File Annual Return’ option select the financial year then click to ‘Prepare Online’.
- Choose between ‘Annual Return’ and ‘Nil Return’. Click on Yes or No.
- If no is selected, click on Next which will direct you to the GSTR 9 Annual Return page.
- Download the file which includes the summary of GSTR 9, GSTR 1 and GSTR 3B.
- Fill in the required information in the table under 4N, 5M, 7I, 6(O), 8A, 9, 10, 11, 12, 13, 15, 16, 17 and 18
- To fill details in the table Click on Title ➣ details pre-entered in GSTR 1 and GSTR 3B will appear automatically ➣ enter the current tax value in the cells.
- Save the details by selecting ‘Yes’
- Re-confirm the details in the draft of the GSTR 9 Form. Once the details are checked click on ‘Compute Liabilities’.
- If there are no dues or late fees from your hand then there will appear a confirmation box.
- Select the Authorised Signatory.
- Click on File GSTR 9.