CBIC to extend GSTR 9 Date: Know all about GST Annual Return

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Any person registered under GST must file Annual Return once a year. The first financial year is completed since the implementation of GST in last March. And so you are required to be ready with the data to file Annual Return. While writing this, an extension in due date for F.Y. 2017-18 is expected. With a press release, the extended date is informed as 31st March, 2019. However, official order is yet to be released.

If you have already subscribed for GST return filing services with LegalWiz.in, you need not to worry. We would ensure to comply on time. If not, you would like to know what Annual Return under GST is.

What is GSTR-9?

GST Annual return is file once in a year by every GST registered person in form GSTR-9. The compliance applies to every GST registrant even if registered under Composition scheme.

It requires the registrants to provide the details of supplies made and received during the reporting year. The taxes of all heads i.e. CGST, SGST and IGST are reported with consolidated data of all returns filed during the year. (Monthly/ quarterly)

What is the Last Date for GSTR 9 Filing?

The taxpayers are required to file GST Annual Return latest by 31st December of the next Financial Year. For the last Financial Year 2017-18, the due date was 31st December, 2018. From an official order dated 08th December, 2018, the due date is duly extended till 31st March, 2019 i.e. by 3 months.

Due to various ambiguities in the utility model, the said extension was quite expected. The online utility for filing is not available even today. The request for extension was made from CA association of Karnataka State and many traders based on various grounds. Even the large taxpayers are finding difficulties to understand many nuances. However, the extension should not be a reason for you to delay the compliance.

Upon failure to comply, you are required to pay penalty on daily basis. Therefore, connect with LegalWiz.in experts to be compliant ready. Write to us at support@legalwiz.in to request a call back for personalised assistance.

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

The government has announced a penalty on daily basis under respective tax heads. If you are filing the return after the due date, the late fee is INR 100 per day per act. Further, a maximum cap for late fee is provided. It is an amount calculated at a quarter per cent (0.25%) of the taxpayer turnover in the state or union territory.

Thus, the late fee is INR 100 under CGST and INR 100 under SGST, totalling INR 200 per day of default. The sweetener is there no late fee under IGST. You should take note that compliance is one of the determinants of GST compliance rating. So, instead of waiting for due dates, it is likely to complete return filing before time to maintain the ratings.

Who is required to file the Annual Return (GSTR-9)?

Every registered person is required to file GSTR-9 but following persons fall under an exception:

  • A person registered as Casual Taxable Person
  • Input service distributors
  • Non-resident taxable persons
  • Persons paying TDS under section 51 of GST Act

Know which type of GSTR 9 applies to you:

Four types of GSTR 9 are provided below along with applicability to concerned taxpayers.

  1. GSTR 9: This form is filed by the regular taxpayers who are filing GSTR 1, GSTR 2 and GSTR 3.
  2. GSTR 9A: If you have opted for composition scheme, you are required to file GSTR 9A as an annual return.
  3. GSTR 9B: If you are an e-commerce operator and have filed GSTR 8 during the financial year, you are required for file GSTR 9B.
  4. GSTR 9C: This form is applicable if your annual turnover exceeds INR 2 crores during the financial year. GSTR 9C is filed in along with the annual return in above-mentioned form.

Here, the requirement of GST audit is also levied. Therefore, a copy of audited annual accounts is filed. Additionally, reconciliation statement of already paid tax and tax payable as per audited accounts is filed.

As you have now learned about the basics, let’s see which data is reported under this return.

What are the details required under GSTR-9?

The details are filled in respective GSTR 9 format. GST Annual Return typically divided into 6 parts as provided below.

PartRequired Details
IPart I is typically auto-populated. It requires the details of the taxpayer.
IIIn this part, details of inward and outward supplies during the FY are provided. This detail must be picked up by consolidating summary from all GST returns filed during the FY.
IIIIt requires details of ITC declared. It is summarised values from all the GST returns filed during the F.Y.
IVIt requires the details declared for taxes paid during the F.Y. This section also includes details of cess, interest, late fees, etc.
VThis section requires Particulars of the transactions for the previous FY declared in returns of April to September of current FY (2018-19) or up to the date of filing of annual returns of previous FY whichever is earlier.
VIPart VI contains other information. This section comprises details of

  • GST demands and refunds;
  • HSN wise summary details of inward and outward supplies;
  • details of late fees;
  • Information on supplied received from different categories of taxpayers.

The GSTR 9 format released previously had many ambiguities, most of which were later resolved by updating the form. However, few issues are still persisting which are being resolved by updating the offline utility on a periodic basis.

How LegalWiz.in can help you?

As filing GST Annual Return with LegalWiz.in is easy. You are only required to provide us the details in specified format and rest will be taken care of by our experts. The GST return filing services are handled by Chartered Accountant with personalised services to taxpayers. For more information, connect with us on support@legalwiz.in. Also, subscribe to our blog to be updated on GST Annual Return filing.

About the Author:

CS Prachi Prajapati
Company Secretary with a forte in content writing! Started as a trainee, she is now leading as a Content Writer and a Product Developer on technical hand of LegalWiz.in. The author finds her prospect to carve out a valuable position Legal and Secretarial field.

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