Contact No
+91-9465331815
+91-9465331815
Contact Email
cayogeshmehra@gmail.com
cayogeshmehra@gmail.com
GST has been implemented in India from 1st July, 2017. Under the new GST regime, over 1.3 crore business in India have been registered and issued GST registration. All entities having GST registration are required to file GST annual returns, as per the GST return due date schedule mentioned below. GST annual return filing is mandatory for all entities having GST registration, irrespective of business activity or sales or profitability during the return filing period. Hence, even a dormant business that obtained GST registration must file GST return.
GST registration holder who obtained the registration anytime before 1st April 2018 are required to file GST annual return for the financial year 2017-18 on or before 30th June 2019. Before filing GST annual return the taxpayer must have filed all GSTR-1 or GSTR-3B or GSTR-4 return for the period of July to March 2018. In case there are overdue GST returns for the above-mentioned period, the GST registration holder will not be allowed to file GST annual return.
GST Annual Return Filing can be divided into three types based on the form to be filed as under:
GSTR 9C is applicable to taxpayers who are required to obtain an annual GST audit of their accounts. GSTR-9C must be prepared and certified by a Chartered Accountant or Cost Accountant. GST audit is applicable for person having GST registration with an annual aggregate turnover of above Rs. 2 crores in a particular financial year.
The due dates of filing of Form GSTR-9 (Annual Return) and Form GSTR-9C (Reconciliation Statement) for Financial Year 2017-18 to 31st December 2019 and for Financial Year 2018-19 to 31st March 2020. The Government has also decided to simplify these forms by making various fields of these forms as optional.
All entities having GST registration are required to file GST annual return in form GSTR-9.
GST registered taxpayers who have opted for the GST Composition Scheme is required to file GSTR-9A.
GSTR 9C is applicable to taxpayers who are required to obtain an annual GST audit of their accounts.
GSTR-9 or GST annual return is a type of GST return that must be filed by regular taxpayers and persons registered under GST composition scheme. GSTR-9 must be filed each year through the GST Common Portal or at a GST Facilitation Centre.
Regular GST taxpayers filing GSTR-1, GSTR-2 and GSTR-3 must file GSTR-9A, consolidating information furnished during the previous financial year.
GSTR-9B return should be filed by electronic commerce operators who are required to collect tax at source. In addition to GSTR-9B return, electronic commerce operators will also be required to file GSTR-8 return, every month.
Regular taxpayers registered under GST having an annual aggregate turnover of over Rs.2 crores during a financial year are required to get their accounts audited and file a copy of the audited annual account and reconciliation statement along with GSTR-9C return. The GST annual audit can be done by a practicing Chartered Accountant or Cost Accountant.
The following information is expected to be filed in GSTR-9A return:
1. Total value of purchases on which ITC availed (inter-State)
2. Total value of purchases on which ITC availed (intra-State)
3. Total value of purchases on which ITC availed (Imports)
4. Other Purchases on which no ITC availed
5. Sales Returns
6. Other Expenditure (Expenditure other than purchases)
7. Total value of supplies on which GST paid (inter-State Supplies)
8. Total value of supplies on which GST Paid (intra-State Supplies)
9. Total value of supplies on which GST Paid (Exports)
10. Total value of supplies on which no GST Paid (Exports)
10.
1. Value of Other Supplies on which no GST paid
12. Purchase Returns
13. Other Income (Income other than from supplies)
14. Return reconciliation Statement
15. Arrears (Audit/Assessment etc.)
16. Refunds
17. Turnover Details
18. Profit as Per the Profit and Loss Statement
19. Gross Profit
20. Profit after Tax
21. Net Profit
22. Details of Statutory Audit
A per day penalty of Rs.100, up to a maximum amount of Rs.5000 would be applicable for late filing of GSTR-9 return. Only if all the GSTR-1, GSTR-2 and GSTR-3 returns are filed, the taxpayer would be able to file GSTR-9 return on the GST Portal.
Yes. Regular taxpayers registered under GST having an annual aggregate turnover of over Rs.5 crores during a financial year are required to the GSTR-9 return with audited accounts. GSTR-9 accounts can be audited by a practicing Chartered Accountant or Cost Accountant.
