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All you need to know About GSTR-9 Annual Return Filing


GSTR 9 annual return filing has to be filed on an annual basis by the taxpayers GST registered taxpayers (including those registered beneath composition levy scheme). GSTR-9 annual return filing has to be filed following up the GST Laws.
Now you can file your GSTR filing by the help of team Taxsavo.

What is GSTR 9 Annual Filing?

GSTR 9 is the annual return that every taxpayer must file. The GSTR-9 is the outline of a business’s monthly or quarterly returns, i.e., the overall variety of transactions in an exceedingly explicit business or a firm. It includes the number of taxes paid (CGST, SGST, and IGST) throughout the year, yet as details of exports or imports. The purpose of the GSTR-9 is to consolidate information about the monthly and quarterly return that is to be filed before filing the annual return. Moreover, the GSTR-9 isn’t a rectification return however a consolidation come back, which needs that information provided in monthly and quarterly returns should match the information on the GSTR-9 precisely.

Types of GSTR 9 Annual Return

There are 4 types of GSTR 9 annual returns:

  • GSTR 9-GSTR 9 is ought to be filed by the taxpayers who are filing for annual returns of GSTR 1 and GSTR 3B.
  • GSTR 9A-This form is to be filed by taxpayers registered beneath GST’s composition scheme. It’s the outline of all quarterly returns filed by the composition remuneration.
  • GSTR 9B-This form is to be filed by e-commerce operators have filed GSTR-8 throughout the previous year. It’s primarily an audited, annual account, punctually certified by the competent authority.
  • GSTR 9C-This is a reconciliation statement to be filed by taxpayers whose annual turnover exceeds 2 crores rupees (for all states) throughout the year. All such taxpayers need to get their accounts audited by Chartered Accountant or Cost Accountant and file a copy of their audited annual accounts. .They have to also file a reconciliation statement of tax already paid and details of tax collectable as per audited accounts, at the time of return.

Eligibility for filing GSTR 9 Annual Return:

All registered, taxable persons, except those listed below, are accountable for filing a GSTR-9 come, in spite of whether or not there have been business operations throughout the year (i.e., even if all the returns throughout the amount are ought to be zero then also annual return should be filed). This annual return is additionally needed in cases wherever a payer has cancelled their registration throughout the year.

However, the subsequent persons aren’t needed to file GSTR-9 as per Section 44(1) of the CGST Act, 2017 are:

  • Taxpayers opting composition theme (They should file GSTR-9A)
  • Casual Taxable Person
  • Input service distributors
  • Non-resident taxable persons
  • Persons paying TDS beneath section fifty-one of CGST Act.

Due Date for Filing GSTR 9:

GSTR-9 is to be filed on or before the 31st of December of the next year. However, the government has the ability to increase this maturity to such different date it considers necessary.
For instance:
For FY 2017-18, the maturity for filing GSTR 9 has been extended to 30th of June 2019*.
For FY 2018-19 the maturity for filing GSTR 9 is 31st of December 2019*.
Note: GSTR-9 can’t be revised.

Penalty for Late filing of GSTR 9:

The late fees for filing GSTR 9 after the prescribed Due date is Rs.100 per day, per act which means late fees of Rs 100 under CGST & Rs 100 underneath SGST are applicable just in case of delay. Thus, the entire liability is Rs.200 per day of default. This is often subject to most of 2.5% of the taxpayer’s turnover within the relevant state or union territory. However, there’s no late fee on IGST nevertheless.

Details required to be filed in GSTR 9:

The GSTR-9 is divided into 6 parts and 19 tables:

  • Part I (Table 1-3) -This half asks for the fundamental details like year, GSTIN of the filer, legal and trade names. These details are auto-populated.
  • Part II (Table 4-5) – Here, the taxpayers ought to give details of outward and inward provides declared throughout the year (FY). This information will be gathered and verified from the varied GSTR-1’s and GSTR-3B’s filed in this year.
  • Part III (Table 6-8) – This section deals with the main points of the Input diminution (ITC) as declared in returns filed throughout the FY. Details of the ITC reversed and ineligible ITC as declared in individual returns needs to be entered within the section likewise. A number of those details are going to be picked up from the GST returns already filed.
  • Part IV (Table 9) – In this section, details of relevant taxes already paid and declared in returns filed throughout the FY needs to be entered.
  • Part V (Table 10-14) – This half asks for details of the dealing that are associated with the (relevant) FY, declared within the returns of the subsequent year. Further or omitted entries belonging to the previous year, however accordingly within the current year ought to be declared here likewise.
  • Part VI (Table 15-19) – All alternative info needs to be here.
    This might include:
    1. GST demand and refund details:
    2. Supplies received from composition taxpayers,
    3. Deemed offer product sent on approval basis;
    4. HSN-wise outline of outward and inward provides
    5. Late fees paid/payable

The principal supply of knowledge for making ready GSTR-9 are going to be GSTR-1 and GSTR-3B that are already filed. The information as per the books of accounts additionally matters. Therefore, all information should be cross-checked with the books of accounts before it’s declared within the annual return.

Broadly, this type asks for revealing of annual sales, bifurcating it between the cases that are subject to tax and not subject to tax. On the acquisition fact, the annual worth of inward provides and ITC availed on that is to be unconcealed. Moreover, these purchases ought to be classified as inputs, input services, and capital product. Details of ITC that must be reversed to qualification is to be entered.

Note: The data declared within the annual returns have multiple implications. Any wrong information will attract notices, tax demands, interest and penalties and for a lot of. Please check the main points crammed in before filing as GST Annual Return because once filed can’t be revised.

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