Introduction to GSTR 9
GSTR 9 is the annual return under the Goods and Services Tax (GST) system. It is a comprehensive summary of all the monthly or quarterly returns (GSTR-1, GSTR-3B) filed by a registered taxpayer throughout a financial year. This return helps taxpayers report their total inward and outward supplies and the Input Tax Credit (ITC) availed during the year.
Filing GSTR 9 is not just a compliance requirement but also an essential step to ensure that all financial details align with the returns filed during the year.
Who Needs to File GSTR 9?
All registered taxpayers under GST must file GSTR 9, including:
- Special Economic Zone (SEZ) units and developers
- Taxpayers with no outward or inward supplies during the year
However, the following categories of taxpayers are exempt from filing GSTR 9:
- Casual taxpayers
- Non-resident taxpayers
- Input Service Distributors (ISD)
- Taxpayers under TDS (Section 51) or TCS (Section 52)
- Composition taxpayers (they must file GSTR 9A instead)
Structure of GSTR 9
GSTR 9 is divided into six distinct parts, simplifying the reporting process:
Part I: Basic Details
This section auto-populates your GSTIN, registered name, and the relevant financial year details.
Part II: Inward and Outward Supplies
A summary of all supplies (sales and purchases) made during the year. These details are pulled from your periodic GST returns.
Part III: Input Tax Credit (ITC)
This section tracks the ITC claimed throughout the year and helps reconcile any discrepancies between purchases and ITC claimed in filed returns.
Part IV: Tax Paid
Captures the total tax liability, including CGST, SGST, IGST, and Cess, as declared in the returns.
Part V: Adjustments from the Previous Year
This includes transactions or adjustments from the previous financial year that were amended or omitted but declared between April and September of the current year.
Part VI: Other Information
Provides details about refunds, demands, HSN-wise summary, and other adjustments like late fees or deemed supplies.
Key Deadlines for GSTR 9 Filing
The due date for filing GSTR 9 varies depending on notifications issued for each financial year.
- Example: For FY 2017-18, the initial deadline of 30th June 2019 was extended to 31st January 2020.
Timely filing is crucial to avoid penalties.
Late Fees for Missing the Deadline
Non-compliance with filing deadlines attracts a late fee, as follows:
- Rs. 100 per day for CGST
- Rs. 100 per day for SGST
- Total late fee is capped at 0.25% of the taxpayer’s turnover in the state/union territory.
Important Considerations When Filing GSTR 9
- Reconciliation is Key: Ensure all returns (GSTR-1, GSTR-3B) filed during the year align with the data reported in GSTR 9.
- No Additional ITC Allowed: You cannot claim additional ITC through GSTR 9. Unclaimed ITC should have been adjusted in GSTR-3B earlier.
- Additional Tax Liability: If any tax liability arises during reconciliation, it must be paid before filing the return.
Why Filing GSTR 9 Matters
Accurately filing GSTR 9 ensures:
- No compliance penalties
- Transparency in tax reporting
- Proper reconciliation of ITC and supplies
Professional Help for GSTR 9 Filing
At Ganesh K Choudhary & Co, we simplify the GSTR 9 filing process for businesses of all sizes. Whether you’re a startup or an established company, we provide tailored guidance to ensure smooth compliance.
Contact us today for assistance with GST filings, tax consultations, and other regulatory services.