GSTR 9 FILING

What is GSTR 9?

The GSTR 9 is a document or statement that has to be filed once a year by a registered taxpayer. This document will contain the details of all supplies made and received under various tax heads (CGST, SGST and IGST) during the entire year along with turnover and audit details for the same.synmac provide you the best gst return filing consultants in bangalore, chennai & delhi.

Annual Return is not for rectification of errors, but it is summarisation of all monthly/quarterly returns filed in a single return. It consolidates the information furnished in the returns during the year.

All Normal taxpayers (including SEZ units and SEZ developers) are required to file an annual return in Form GSTR-9 irrespective of the turnover of an entity. A taxpayer must report the following details for the financial year in the annual return:

Outward supplies,

Inward supplies,

Taxes paid,

Refund claimed,

Demand raised or

Input tax credit availed and utilized

What are the different types of GSTR 9 forms?

There are 4 types of GSTR 9 forms

GSTR 9: to be filled by taxpayers who are filing GSTR-1 and GSTR-3B.

GSTR-9A: To be filed by individuals who have opted for the GST composition scheme.

GSTR-9B: To be filed by e-commerce operators who file GSTR 8 during the financial year.

GSTR-9C: To be filed by registered taxpayers with aggregate turnovers of over Rs.2 crore.synmac provide you the best gst return filing consultants in bangalore, chennai & delhi.

What is the due date for filing GSTR9?

In general, you must file GSTR 9 on or before 31 December of the forthcoming financial year. That said, the date can be extended by the Government.synmac provide you the best gst return filing consultants in bangalore, chennai & delhi.

What is the Penalty for the late filing of GSTR-9 return?

As per the penalty provisions of GSTR-9 annual return form, the taxpayer has to pay Rs. 200 per day as a penalty in which Rs. 100 consist of SGST and Rs. 100 for CGST. Also, it is to be noted that the total penalty cannot exceed 0.25% of the total turnover on which the said penalty is being levied.

There are no penalty charges on IGST at present. The maximum penalty fee payable is Rs.5,000 and you incur an 18% interest penalty on the outstanding tax payments apart from the late charges.synmac provide you the best gst return filing consultants in bangalore, chennai & delhi.

How to fill the GSTR 9 form

The GSTR 9 form comprises 6 parts divided over 19 sections. Here you need to fill in basic details and data that you can get from your previous filings and books of accounts.:

Part 1: Here, basic details such as your GSTIN number, legal and trade names details of taxable services and goods are to be filled.

Part 2: Here, details pertaining to outward and inward supplies declared during the course of the financial year are to be provided. You can get this data from GSTR 1 and GSTR 3B.

Part 3: Here, details of the Input Credit Tax that you filed in returns during the financial year must be entered. You can find this data in GSTR-2A.

Part 4: Here details about taxes paid in returns in the financial year must be declared.

Part 5: Here, details pertaining to transactions of a previous financial year that are declared in returns of the current financial year are to be provided.

Part 6: Here, other information such as HSN summary, late fees and GST demands and refunds should be provided.synmac provide you the best gst return filing consultants in bangalore, chennai & delhi.

How to file GSTR 9

• You can file GSTR 9 online, via the GST website.

• Login to the portal at https://www.gst.gov.in/ and click on Annual Returns.

• Then download summaries of forms GSTR-1, GSTR-3B, and GSTR-9.

• Next, enter your tax details in the appropriate tables and fields.

• Then, preview in Excel or in PDF format a draft of GSTR 9.

• Then proceed to compute liabilities and pay any late fees that you may have.

• Finally, file GSTR 9.synmac provide you the best gst return filing consultants in bangalore, chennai & delhi.