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- GSTR-9 annual return
- Which taxpayers are required to file the GSTR-9 annual return under the GST regime?
- Is there any turnover threshold for filing the GSTR-9 return under the GST regime?
- By when is the GSTR-9 return required to be filed under the GST regime?
- How do I fill out the details required in the GSTR-9 form?
1. GSTR-9 annual return
GSTR-9 is an annual return that needs to be filed by all registered taxpayers who have a GST registration certificate, except for those who are registered under the composition scheme (GSTR-4 filers), Input Service Distributors (ISD), Casual Taxable Persons (CTP), and Non-Resident Taxable Persons (NRTP). It is essentially a summary of all the monthly or quarterly returns filed in a financial year, including GSTR-1, GSTR-2, and GSTR-3. The due date for filing GSTR-9 is December 31st of the subsequent financial year, and it is important to ensure timely and accurate filing to avoid penalties and fines.
2. Which taxpayers are required to file the GSTR-9 annual return under the GST regime?
GSTR-9 is an annual return that needs to be filed by every registered taxpayer who has a GST registration certificate. This return is essentially a summary of all the monthly or quarterly returns filed in a financial year. In other words, any taxpayer who has filed GSTR-1, GSTR-2, and GSTR-3 in a financial year, needs to file GSTR-9 as well. However, there are a few exceptions to this rule, such as: 1. Taxpayers who are registered under the composition scheme (GSTR-4 filers) are not required to file GSTR-9. 2. Taxpayers who are registered as Input Service Distributors (ISD) are also exempted from filing GSTR-9. 3. Casual Taxable Persons (CTP) and Non-Resident Taxable Persons (NRTP) are not required to file GSTR-9.
3. Is there any turnover threshold for filing the GSTR-9 return under the GST regime?
No, there is no turnover threshold for filing the GSTR-9 return under the GST regime. All registered taxpayers who have filed GSTR-1, GSTR-2, and GSTR-3 during a financial year are required to file GSTR-9, regardless of their turnover.
4. By when is the GSTR-9 return required to be filed under the GST regime?
The GSTR-9 return is required to be filed under the GST regime by December 31st of the subsequent financial year. For example, for the financial year 2020-21, the deadline for filing GSTR-9 is December 31st, 2021. However, it is important to note that the due date for filing GSTR-9 for the financial year 2019-20 has been extended until March 31st, 2021, in view of the COVID-19 pandemic.
5. How do I fill out the details required in the GSTR-9 form?
GSTR-9 is an annual return that summarizes the details of all the outward and inward supplies made during a financial year. The following are the details required to be filled in the GSTR-9 form: 1. Basic Details - This includes the GSTIN, legal name, and trade name of the taxpayer. 2. Financial Year - The year for which the return is being filed. 3. Part I - This includes the details of the turnover declared in the annual return, along with the details of the previous year's transactions. 4. Part II - This includes the details of all the outward supplies made during the year, such as taxable, exempted, and nil rated supplies. 5. Part III - This includes the details of all the inward supplies received during the year, such as inputs, capital goods, and input services. 6. Part IV - This includes the details of the input tax credit claimed during the year, along with the details of any adjustments made. 7. Part V - This includes the details of the tax payable and paid during the year. 8. Part VI - This includes the details of any additional liability arising due to any amendments made to the previous returns filed. 9. Part VII - This includes the details of any demands and refunds during the year. 10. Part VIII - This includes the details of HSN-wise summary of outward and inward supplies. 11. Certification - The taxpayer needs to certify that all the information provided in the return is true and correct.
Frequently Asked Questions
What is GSTR-9?
GSTR-9 is an annual return that needs to be filed by registered taxpayers under the Goods and Services Tax (GST) regime in India. It consolidates the details of outward and inward supplies made/received during the financial year, along with details of taxes paid and input tax credit (ITC) availed.
Who needs to file GSTR-9?
GSTR-9 is required to be filed by all registered taxpayers under the GST regime, excluding those under specific exemptions like Composition Scheme, Casual Taxable Persons, Non-resident Taxable Persons, Input Service Distributors (ISDs), and those liable to deduct or collect tax at source.
What are the details required to be filled in the GSTR-9?
GSTR-9 requires taxpayers to provide details such as outward and inward supplies, input tax credit availed, amendments to previous returns, late fees, tax payments, and turnover for the financial year.
What is the deadline for filing GSTR-9?
The deadline for filing GSTR-9 is typically December 31st of the succeeding financial year.
Can I revise my GSTR-9 after filing?
No, once GSTR-9 is filed, it cannot be revised.
What happens if I miss the deadline for GSTR-9 filing?
If you miss the deadline for GSTR-9 filing, you may be liable to pay late fees and penalties.
Are there any penalties for non-compliance with GSTR-9 filing?
Yes, there are penalties for non-compliance with GSTR-9 filing, which may include late fees and other consequences as per GST regulations
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