GST Annual Return
*Complete by: within 7 days
*subject to approval of Government portal services
- GSTR-9 or GST annual return filing for taxpayers registered under GST
GST Annual Return Filing in pune
GST Annual Return Filing in Pune is a mandatory compliance for businesses registered under the Goods and Services Tax (GST) system. One of the most important forms under this category is GSTR-9, which consolidates all monthly or quarterly GST returns filed during a financial year into a single comprehensive document. It covers outward supplies, inward supplies, input tax credits, and taxes paid under CGST, SGST, and IGST.
At Startup Portal Business Services, we specialize in GSTR-9 filing in Pune, making the process seamless, accurate, and stress-free. Whether you’re an SME, a large enterprise, or operating under the Composition Scheme, our expert GST filing services ensure you file GST returns correctly and before the due date. With our professional support, you can stay ahead on tax compliance in Pune and avoid costly penalties.
What is GSTR 9
GSTR-9 filing in Pune refers to the annual return that every GST-registered taxpayer must file. It consolidates sales, purchases, and input tax credits for the year, offering a comprehensive review of your GST data. This annual return provides details such as:
- Outward and inward supplies
- ITC availed and reversed
- Taxes paid through cash and ITC
- Adjustments made for previous financial years
For businesses with a turnover exceeding ₹2 crore, GST annual return filing in Pune through GSTR-9 is mandatory. For those with a turnover up to ₹2 crore, filing is optional but recommended for maintaining accurate records.
Types of GST Annual Return in Pune
GSTR-9: Taxpayers with a turnover exceeding Rs. 2 crore are required to file the GST annual return using Form GSTR-9. This return consolidates all relevant financial information, offering a comprehensive overview of a business’s GST-related activities throughout the year.
GSTR-9A: Registered taxpayers who have opted for the GST Composition Scheme must file GSTR-9A. This specialized return caters to the unique needs of businesses participating in the Composition Scheme, providing a simplified reporting format.
GSTR-9C: Form GSTR-9C is used to reconcile the information reported in GSTR-9 with the audited financial statements for the financial year. This reconciliation statement is mandatory for entities that require an annual audit of their accounts.
At Startup Portal Business Services, we assist with the preparation and filing of GSTR-9 and GSTR-9C (if applicable), ensuring a smooth filing experience.
Filing GSTR-9A for Composition Scheme Participants
GST-registered taxpayers operating under the Composition Scheme, as outlined in the GST Act, are required to file GSTR-9A. This annual return consolidates the information submitted in their quarterly returns throughout the relevant financial year.
Eligibility Criteria for Filing GSTR-9A
All taxpayers registered under the GST Composition Scheme must file GSTR-9A. However, the following individuals are exempt from filing:
- Input Service Distributors
- Non-resident taxable persons
- Taxpayers subject to Tax Deducted at Source (TDS) under Section 51 of the Income Tax Act
- E-commerce operators subject to Tax Collected at Source (TCS) under Section 52 of the Income Tax Act
- Casual Taxable Persons
Understanding these eligibility criteria ensures compliance with GSTR-9A filing requirements for eligible Composition Scheme participants.
Filing GSTR-9C: Reconciliation Statement
Purpose and Importance of GSTR-9C:
GSTR-9C is a crucial form used for filing the reconciliation statement for a specific financial year. It serves as a bridge between the information reported in the GSTR-9 Annual Return and the figures in the taxpayer’s Audited Financial Statements. This reconciliation form, certified by a Chartered Accountant, must be submitted along with both the GSTR-9 return and the Audited Financial Statements. Taxpayers can file GSTR-9C through the GST portal or through a designated Facilitation Centre.
Eligibility Criteria for GSTR-9C:
GSTR-9C applies to taxpayers who are required to undergo an annual GST audit. The form must be prepared with precision and certified by a qualified Chartered Accountant or Cost Accountant.
By ensuring accurate reconciliation, GSTR-9C helps maintain compliance with GST regulations and audit requirements.
GSTR-9 Format: A Quick Overview
The GSTR-9 form is divided into six parts, capturing key details about supplies made or received from July 2017 to March 2018.
- Part 1: Basic Registration: Provide your GSTIN, fiscal year, legal name, and trade name. These details are auto-filled from the GST portal.
- Part 2: Outward Supplies: Report taxable and non-taxable supplies, including exports, exempt, and nil-rated supplies.
- Part 3: Input Tax Credit (ITC): Include ITC availed, reversed, and any ineligible credits, along with details from GSTR-2A.
- Part 4: Tax Paid: Break down taxes paid through cash and ITC, as reported in previous returns.
- Part 5: Previous Year’s Transactions: Declare transactions from the previous financial year, filed between April and September.
- Part 6: Miscellaneous: Include demands, refunds, HSN-wise supply details, and late fee information.
Accurate filing of these sections is crucial. At Startup Portal Business Services, we provide expert GST Filing Services and guide you through every step, ensuring compliance in your GST Annual Return Filing in Pune
Documents Required for GSTR-9 Filing
To file GSTR-9, ensure you have the following documents:
- Monthly GST Returns (GSTR-1, GSTR-2A, GSTR-3B): These returns provide detailed information about your monthly sales, purchases, and tax calculations, which are crucial for preparing your annual return.
- Annual Financial Statements: Your profit and loss statement, along with the balance sheet, are essential to match the figures from your GST returns and ensure accurate reporting.
- Reconciliation Statement (GSTR-9C): This document reconciles your financial data with the information provided in your GST returns, ensuring compliance and accuracy.
Having these documents ready simplifies the GST Annual Return Filing in Pune and ensures smooth compliance.
How to File GSTR-9: Step-by-Step Guide for GST Annual Return Filing in Pune
Filing GSTR-9 is a crucial process for GST-registered taxpayers. Here’s a simple, step-by-step guide to help you file your GSTR-9 return:
Step 1: Log in and Access GSTR-9
- Visit the official GST portal and log in with your credentials.
- Navigate to the ‘Returns Dashboard’ and select the ‘Annual Return’ option.
Step 2: Select the Financial Year
- Choose the appropriate financial year (e.g., 2023-2024) from the ‘File Annual Returns’ section.
- Click on ‘Prepare Online’ after the instructions appear for filing GSTR-9 either online or offline.
Step 3: Choose Nil Return (If Applicable)
- Determine if you’re filing a Nil return by selecting ‘Yes’ or ‘No.’
- For a Nil return, ensure no outward supply, receipt of goods/services, credit claimed, refund claimed, liability, demand order, or late fees.
- If these conditions are met, proceed to calculate liabilities and file the Nil GSTR-9.
- If not filing a Nil return, continue to the next step.
Step 4: Fill in the Details
On the ‘GSTR-9 Annual Return for normal taxpayers’ page, enter the necessary information in the relevant sections.
Download the summaries from these tabs to assist in filling out the details:
- GSTR-9 System Computed Summary
- GSTR-1 Summary
- GSTR-3B Summary
The system will auto-populate data based on the GSTR-1 and GSTR-3B details. If there’s a variance of more than +/- 20%, the affected cells will be highlighted. Confirm by clicking ‘Yes’ to accept the data.
Step 5: Save Your Data
- Once all the required information is entered, save the data.
Step 6: Preview Your Draft GSTR-9
- Preview the GSTR-9 form in PDF or Excel format by selecting ‘Preview GSTR-9 (PDF)’ on the dashboard.
Step 7: Calculate Liabilities and GSTR-9 Late Fees
- Click ‘Compute Liabilities’ to allow the GST portal to process the provided details and calculate any applicable GSTR-9 late fees.
- Make the payment using the electronic cash ledger. If the balance is insufficient, additional payments can be made through net banking, NEFT/RTGS, or over the counter by generating a payment challan.
Step 8: Final Submission
Check the declaration box and select the authorized signatory.
Two options for filing will appear:
- File with DSC: Browse and select the digital signature certificate to sign and submit the return.
- File with EVC: Receive an OTP on the registered email and mobile number. After OTP verification, the return status will update to ‘Filed.’
Following this step-by-step process ensures your GST Annual Returns are filed correctly.
What details are required to be filled in the GSTR-9?
- Annual Sales: Disclosure of total sales, with a breakdown into taxable and non-taxable sales.
- Inward Supplies and ITC: Reporting the value of inward supplies (purchases) and the ITC availed.
- Classification of Purchases: Classification into inputs, input services, and capital goods.
- ITC Reversal: Details of ITC that needs to be reversed due to ineligibility.
These details are primarily sourced from previously filed returns and accounting records.
GSTR-9 Penalty for Late Filing
All taxpayers are required to file the GSTR-9 form by the GST annual return due date. Failing to meet this deadline results in a hefty penalty. The late fee for GSTR-9 filing is Rs. 200 per day—Rs. 100 for CGST and Rs. 100 for SGST. Importantly, no late fee is applied for IGST.
The penalty amount is capped at the taxpayer’s quarterly turnover, so it’s essential to file GSTR-9 on time to avoid these penalties and ensure smooth compliance with GST regulations.
To avoid penalties, ensure timely GST Annual Return Filing in Pune.
How Startup Portal Can Help with GSTR-9 Form Filing
Navigating the complexities of tax compliance in Pune can be challenging, but Startup Portal Business Services is here to simplify the process.
- Expert Guidance – Step-by-step guidance for accurate filing.
- Comprehensive Review of your GST data – Detailed verification before filing.
- Preparation and filing of GSTR-9 and GSTR-9C (if applicable) – Ensuring compliance.
- Reconciliation of input tax credits and tax liabilities – To maintain accuracy.
- Timely Reminders – Never miss due dates.
- Support at Every Step – Assistance whenever required.
With our professional GST compliance services, you can confidently file your GST return in Pune and stay compliant with GST regulations. Ensure timely GST Annual Return Filing in Pune with Startup Portal Business Services and avoid penalties. Contact us today for expert GST Filing Services.