GSTR 9, Annual GST Return Filing and their Significance

Filing returns and compliances can be hectic. However, because it is mandatory, experts at Ebizfiling have worked on this article to help you understand all about GSTR 9 and annual GST Return Filing including the Due date for filing GSTR 9, FAQs on GST return filing etc.

GSTR 9 form is an annual return that is to be filed once a year by every registered taxpayer under GST. It consists of details regarding the supplies produced and received during the year under different tax heads i.e. CGST, SGST, and IGST.

All the registered taxable entities under GST must file GSTR 9 form. However, the following persons are not required to file GSTR 9.

• Taxpayers who have opted for the Composition scheme as they are required to file GSTR-9A
• Casual taxable entities
• Input service distributors
• Non-resident taxable people
• Person paying TDS under section 51 of the GST Act.

What are the types of annual returns?

• GSTR 9: GSTR 9 is required to be filed by regular taxpayers filing GSTR 1, and GSTR 3B.
• GSTR 9A: GSTR 9A is required to be filed by the person registered under the composition scheme of GST.
• GSTR 9B: GSTR 9B is required to be filed by e-commerce operators who have filed GSTR 8 during the current financial year.
• GSTR 9C: GSTR 9C is required to be filed by the taxpayers whose annual turnover exceeds Rs 2 crore during the financial year. All such taxpayers are also required to get their accounts audited, file a copy of audited annual accounts and reconciliation statement of tax already paid. Along with tax payable as per the audited accounts along with GSTR 9C.
• The Due date for GSTR-9 is on or before 31st December of the subsequent financial year.

Late Fees for GSTR 9 filing

Late fees for not filing the GSTR 9 within the due date is  INR 200 per day (INR 100 for CGST and INR 100 for SGST, while there is no late fee for IGST) during the period of failure, subject to a maximum of 0.25% of the applicable financial year’s turnover.

FAQs on GST Return Filing

1. What is GST return filing?

A return is a document containing details of income that a taxpayer is required to file with the tax administrative authorities. This is used by tax authorities to calculate tax liability. Under GST, a registered dealer has to file GST returns that include: Purchases.

2. What are the returns to be filed under GST?

There are various types of returns required to be filed under GST For example GST 1, GST 3B.

3. Is it compulsory to file a GST return?

Yes, it is mandatory to file a GST return.  

4. What if my business is too small to cope with monthly returns?

If your business is too small to cope with monthly returns, you can opt for the composition scheme. To qualify, you can only sell goods. Under these rules, you only have to file a quarterly GST return, but unfortunately, you can’t claim input credits.

5. Can GST returns be revised?

There is no concept of revision of returns under the GST regime. However, you can change the invoice through a supplementary invoice or debit or credit notes in subsequent invoices.

6. I got my registration cancelled in the financial year say FY 2017-18. Do I still need to file Form GSTR-9?

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