Introduction to GSTR -9
GSTR-9 is an annual return to be furnished by a registered taxpayer to provide the consolidated data to the department for the entire year .The Need of GSTR 9 is to help the department to verify the data of the entire financial year and on the other hand, it helps the tax payer to rectify any mistake done in monthly or quarterly returns.
GSTR 9 Due Date
The Due date of GSTR 9 is 31st December of the year following the financial year concerned. For example the due date for fy 21-22 is 31st dec 2022.
GSTR 9 has 6 parts and 19 tables or sections which can be better understood by having a command over the concepts of other monthly and quarterly returns.
Let's take a short trip to the other returns:-
GSTR 1 is a monthly or quarterly return of outward supply or we can say the invoice level details are provided to the department.
For B2B, all the invoices are to be uploaded and for B2C, the consolidated invoices would suffice.
Presently, GSTR 1 of the current period is not allowed to be filed if the previous period GSTR1 is not filed.
GSTR 3B is the monthly or quarterly return which encompasses the details of sales, output tax, input tax and gst payable for the tax period.
GSTR 3B is allowed only if the GSTR 1 of the tax period is filed.This is immensely helpful, as the data of outward sales in auto populated from GSTR 1.
GSTR 2B is a monthly or quarterly return of our purchases and our input tax credit which is a auto populated data from the GSTR 1 furnished by our suppliers.
If our supplier has furnished GSTR 1 by 11 th of the next month following the tax period, the data gets reflected in GSTR 2B, otherwise, GSTR 2A would contain all the uploaded invoices and related credit.
It is a dynamic return.Input credit can be claimed only from GSTR 2B.
The much of the data of GSTR 3B is auto populated from GSTR 1 and GSTR 2B.
The Annual Return GSTR 9 is governed by section 44 of CGST Act ,2017 and Rule 80.
The GSTR 9 is mandatory for tax payers with turnover exceeding INR 2 crores and optional for others.The late fees for filing GSTR 9 is INR 100 per day under CGST Act and max is 0.25 % of turnover.
Much of the datain GSTR 9 like outward supplies are auto populated from GSTR 1 and data like ITC claimed, utilized, tax paid etc flows from GSTR 3B.
The ITC on inward supplies gets auto populated in GSTR 9 from GSTR 2A.
Why of the GSTR 9?
The mistakes or omissions made in filing in monthly or quarterly returns can now be corrected because GSTR 9 cannot be revised.
Elements of GSTR 9
The Portal has a System Drafted Annual Return, which can be taken help of .The following are the parts and sections of GSTR 9:
Part I
Part I contains the details like financial year, GSTIN, Legal and Trade name .It ranges from table I to 3.
Part II
It contains Table 4 and 5.
Table 4 contains details of tax paid on advances , outward and inward supplies on which reverse charge is applicable.
The details of the above on which no tax is payableis in table 5 .
Credit and debit notes are to be adjusted in this table.
This table also includes the amendments in GSTR 1 of various months.
Now, table 5 contains the details of non taxable supplies in the same way, as the table 4 contains regarding the taxable supplies.
Part III
Part III contains table 6 relating to ITC details for the financial year.
It contains the data of ITC availed through GSTR 3B and the details also include the ITC on inward supplies, inward supplies on which tax was paid on RCM basis and ITC availed theron, import of goods and services,ITC received from input service distributor, amount of ITC reclaimed, which was earlier reversed.
Part IV
It contains tables 7,8, and 9.
The table 7 contains details of ITC reversed due to ineligibility as per the rules or blocked credit as per sec 17(5).
Table 8 contains details of GSTR 2A and other ITC related information.
Table 9 contains the details of tax paid including interest, late fee, penalty, others paid through cash or ITC .
Part V
It contains the details of supplies/tax declared/reduced through amendments related to previous financial year.
The details of ITC availed in previous financial year but reversed in current financial year upto the specified period.
In short this part contains the details of PY transactions in current year and the differential tax paid.
Part VI
This part contains the details of demands and refunds, information on supplies received from composition dealers, deemed supply under section 14 and goods sent on approval basis but not returned and HSN summary of outward and inward supplies.
Concluding the above discussion, GSTR 9 has consolidated figures of entire year's transaction of sales, ITC and tax paid etc , any errors or omissions.
This form and details can be accessed through gst portal of the government.
Thank you
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