GST ANNUAL RETURN

What is GST Annual Return Form GSTR 9?

The GSTR 9 is a GST annual return form to be filed by the regular taxpayer once a year with all the consolidated details of SGST, CGST and IGST paid during the year.

Who is Required to File GSTR 9 (GST Annual Return Form)?

All the registered regular taxpayers are required to file a form under the GST regime except below list:

• Taxpayers opting composition scheme
• Casual Taxable Person
• Non-resident taxable persons
• Persons paying TDS

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What are the Different types of Annual GST Returns?

Different kinds of Annual Returns under GST:

GSTR-9 Annual Return Form:The regular taxpayer who files 1 and 3B forms are required to file the GSTR-9.

GSTR-9A: The composition scheme holder under GST is required to furnish GSTR-9A.

GSTR-9B: All the e-commerce operators who have filed GSTR-8 are required. to file GSTR-9B in a financial year.

GSTR-9C: The taxpayers whose annual turnover cross Rs. 2 crores are required to file GSTR-9C in a financial year. All those taxpayers are needed to obtain the accounts to be audited and furnish a copy of the reconciliation statement of tax already paid, audited annual accounts, and tax payable according to the audited accounts with GSTR-9C.

Is there any Penalty Provisions if you Missed the Due Date of GSTR-9 Filing?

Yes, as per the penalty provisions of the GSTR-9 annual return form, the taxpayer has to pay Rs. 200 per day as a penalty in which Rs. 100 consists 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.

We at Investax India assure timely,flawless and accurate Annual GST Return filing services so that our clients can completely and uninterruptedly focus on their business and leave compliance worries on us!!