GSTR-9 ANNUAL RETURN PART-1: BASIC

GSTR-9 ANNUAL RETURN PART-1: BASIC
gstr 9 annual return part -1 basic

Latest news: Following decisions was taken by Government on 14.11.2019

1. Due dates of filing of Form GSTR-9 (Annual Return) and Form GSTR-9C (Reconciliation Statement) for Financial Year 2017-18 extended to 31 st December 2019.

 

2. Due dates of filing of Form GSTR-9 (Annual Return) and Form GSTR-9C (Reconciliation Statement) for Financial Year 2018-19 to extended 31 st March 2020.

 

3. No need to fill HSN level information of outward and inward supplies.

 

 

4. Not to provide bifurcation of input tax credit availed on inputs, input services and capital goods.

In this Article we will discuss on gstr-9 annual return part 1 basic

Who is required to file an Annual return

Every registered person shall furnish an annual return for every financial year electronically other than

  1. Input Service Distributor
  2. Person paying tax under section 51 or section 52. (TDS or TCS)
  3. Casual taxable Person
  4. Non-resident Taxable Person

What is the due date of GSTR-9?

The due date for furnishing annual return for the F.Y. 2017-18 is extended from 31.12.2018 to 30.06.2019. [Order No. 03/2018-CT dated 31.12.2018]

For instance, for FY 2017-18, the due date for filing GSTR 9 is 30th June 2019

For FY 2018-19 the due date for filing GSTR 9 is 31st December 2019.

What are different types of annual returns?

Sr. No.

Return

Remarks

1

GSTR – 9

Required to filed by regular taxpayers filing GSTR 1, GSTR 3B.

2

GSTR – 9A

Required to filed by Persons registered under composition scheme under GST.

3

GSTR – 9B

E-commerce operators who have filed GSTR 8 during the financial year. [Not applicable for 2017-18, applicable only from 01.10.2018- Notification No.51/2018-Central Tax dated 13.09.2018]

4

GSTR – 9C

Required to filed by taxpayers whose annual turnover exceeds Rs 2 crores during the financial year. All such taxpayers are required to file GSTR-9 along with a copy of audited annual accounts and reconciliation statement of tax already paid and tax

Is it mandatory to file Form GSTR-9?

Yes, it is mandatory to file GSTR-9 for normal tax payers irrespective of Turnover (even if not covered in audit)

If GST Registration is cancelled in Financial Year 2017-18, Whether Annual Return is required to be filed?

Yes, the annual return needs to be filed even if the taxpayer has got his GST Registration cancelled during the said financial year.

If a person is registered as a normal taxpayer for part of the period and as composition taxpayer for the remaining year. Whether he is required to file Form GSTR-9 or Form GSTR-9A?

He is required to file both Form GSTR-9 and Form GSTR-9A for the respective period.

The period during which the taxpayer remained as composition taxpayer, Form GSTR-9A is required to be filed. And, for period for which the taxpayer is registered as normal taxpayer, Form GSTR-9 is required to be filed.

For instance, If the taxpayer had opted for Composition scheme from 1st July 2017 to 31st Dec 2017, then Form GSTR-9A is required to be filed for such period. Since taxpayer had opted out of composition scheme and registered as a normal taxpayer during period say 1st Jan 2018 to 31st Mar 2018, then for such period Form GSTR-9 is required to be filed.

Annual Return is required to be filed at entity level or GSTIN level?

Annual return is required to be filed for each GSTIN level i.e. for each registration separately.

If taxpayer has obtained multiple GST registrations, under the same PAN, whether in the same State or different States, he/she is required to file annual return for each registrations separately, where the GSTIN was registered as a normal taxpayer for some time during the financial year or for the whole of the financial year.

Can GST Annual returns be revised?

Annual Return once filed cannot be revised.

What are pre-requirements to file GSTR-9?

All returns in GSTR-1 and GSTR-3B for the F.Y. 2017-18 should be filed before filing the Annual return

Who can file NIL Annual Return?

GSTR-9 can also be filled NIL, if Taxpayer:

  • NOT made any outward supply y (commonly known as sale) AND
  • NOT received any inward supplies (commonly known as purchase of goods and services) AND
  • NO other liability to report; AND
  • NOT claimed any Credit during the Financial Year AND
  • NOT claimed any Credit during the Financial Year AND
  • NOT received any order creating demand AND
  • There is no late fee to be paid etc.

What is the Penalty for the late filing of GSTR-9 form?

Late fees for not filing the GSTR 9 within the due date shall attract a late fee of INR 200 per day (INR 100 for CGST and INR 100 for SGST; there is no late fee for IGST) during the period of failure, Subject to maximum at 0.5% of turnover in State [0.25% under CGST and 0.25% under SGST]

UPCOMING POST

GSTR- 9 Annual Return Part -2: Clause by Clause Analysis

This Post Has 4 Comments

  1. Worth reading

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  2. very good.Excellent artical thank you for this updatation

    1. Thanks for Your Feedback

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