GSTR9 is an annual return that must be filed yearly by taxpayers registered under the Goods and Services Tax (GST) in India. This return is required for every financial year and must be submitted by registered persons whose total revenue is more than INR 2 crore per year. Additionally, registered persons whose total revenue is less than INR 2 crore per year are exempt from filing GSTR9. However, those with revenue greater than INR 5 crore per year are also required to file GSTR9C. The due date for GSTR9 for the financial year 2021-2022 is December 31, 2022.
Failing to file the annual return on time will result in penalties and late fees. The late fees for delayed filing of GSTR9 is INR 100 per day for CGST and SGST respectively. Additionally, registered persons who fail to file their annual return may be subject to a general penalty of up to INR 25,000 under Section 125 of the CGST Act 2017. It’s important to note thaGSTR9 cannot be revised once filed. To avoid errors, it’s recommended to carefully check the values that are auto-populated in the annual return and make any necessary corrections before filing.
There are four types of annual returns under GST law:
- GSTR-9 for regular registered taxpayers with turnover greater than INR 2 crore per year,
- GSTR9A for registered composite dealers,
- GSTR9B for e-commerce operators who collect tax at source and have filed GSTR-8 for the financial year, and
- GSTR9C for regular registered taxpayers with revenue greater than INR 5 crore per year. (Need to be filed along with GSTR – 9)
GSTR-9 includes several tables, with tables 4 to 19 being available for filing. Not all tables are required to be filled, with tables 4, 5, 6, 7, 8, and 17 being mandatory. The process of filling GSTR-9 can be done through the GST portal (www.gst.gov.in) by logging in with a user ID and password, selecting the ‘Return’ option under the ‘Service’ menu, choosing the financial year, and following the prompts to prepare and file the return. The return includes details of outward supplies, inward supplies, input tax credit, and any credit or debit notes issued during the financial year. It’s important to ensure that the information provided in the return matches the books of accounts.
This article is for informational purposes only and is based on the author’s interpretation of the relevant provision. It should not be taken as professional advice.
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