GST Annual Return
GST Annual Return
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  • GSTR-9 or GST annual return filing for taxpayers registered under GST

GST Annual Return Filing - GSTR 9 Filing

GSTR-9 is a mandatory annual filing for all taxpayers registered under the Goods and Services Tax (GST) system. This return provides detailed information on both outward and inward supplies, including transactions made or received throughout the relevant financial year. It covers supplies under Central GST (CGST), State GST (SGST), and Integrated GST (IGST) regulations. GSTR-9 consolidates all monthly or quarterly returns filed during the year into one comprehensive document.

At Startup Portal, we specialize in making the GSTR-9 filing process seamless and stress-free, ensuring that it’s filed before the GSTR-9 due date. Understanding the complexities of tax compliance, we provide expert guidance to simplify the process and ensure accurate filings. With our user-friendly approach, you can confidently manage your GSTR-9 filings with ease and precision.

What is GSTR 9

GSTR-9 is an annual return that all GST-registered taxpayers must file. This report provides a detailed summary of a taxpayer’s business transactions, including purchases and sales made throughout the year. It covers various taxes such as CGST, SGST, and IGST, along with total sales, purchases, and audit information. In essence, GSTR-9 consolidates the entire year’s business activities and tax details in one comprehensive document.

For businesses with a turnover exceeding Rs. 2 crore, filing GSTR-9 is mandatory. However, for businesses with a turnover up to Rs. 2 crore, filing GSTR-9 is optional.

Types of GST Annual Returns

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.

GST Audit Requirement: GSTR-9C applies to businesses with an annual turnover exceeding Rs. 2 crore, making an annual audit of their accounts necessary. The preparation and certification of GSTR-9C must be conducted by a Chartered Accountant or a Cost Accountant.

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 guide you through every step, ensuring your GSTR-9 filing is seamless and compliant.

Documents Required for GSTR-9 Filing

To file GSTR-9, ensure you have the following documents:

  1. 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.
  2. 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.
  3. 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 will simplify the GSTR-9 filing process and ensure smooth compliance with GST regulations.

How to File GSTR-9: Step-by-Step Guide

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.’

By following these steps, you can efficiently complete and submit your GSTR-9 return on the GST portal.

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.

Avoid Late Fees and Stay Compliant Ensure timely GSTR-9 filing to avoid penalties. Contact us today for assistance with your GST compliance needs

How Startup Portal Can Help with GSTR-9 Form Filing

Navigating the complexities of tax filings can be challenging, but Startup Portal is here to simplify the GSTR-9 form filing process. We offer comprehensive support to ensure that your filing is seamless and stress-free:

  • Expert Guidance: Our team of GST experts provides step-by-step guidance to help you understand and complete your GSTR-9 form accurately, ensuring it’s filed before the GSTR-9 due date.
  • Data Verification: We verify the accuracy of your data before submission to minimize errors and avoid potential penalties.
  • Timely Reminders: With our timely reminders, you’ll never miss important filing deadlines, helping you stay on track and avoid late fees.
  • Support at Every Step: If you have any questions or need clarification, our customer support team is here to assist you. We’re available to guide you through any field or concept.
  • Comprehensive Services: Beyond just form filing, we help with data compilation, calculations, and ensure all necessary information is included.
    With Startup Portal by your side, you can confidently file your GSTR-9 annual return before the due date, knowing you have a trusted partner to guide you throughout the process.