GSTR 9 Annual Return – Who Should Be Filing, Due Date, Late Fees and Penalty
What is GSTR-9 Annual Return?
GSTR 9 is an annual return to be filed yearly by taxpayers registered under GST.
- It consists of details regarding the outward and inward supplies made/received during the relevant financial year under different tax heads i.e. CGST, SGST & IGST and HSN codes.
- It is a consolidation of all the monthly/quarterly returns (GSTR-1, GSTR-2A, GSTR-3B) filed in that year. Though complex, this return helps in extensive reconciliation of data for 100% transparent disclosures.
Who should file GSTR-9, the Annual Return?
All taxpayers/taxable persons registered under GST must file their GSTR 9. However, the following are NOT required to file GSTR 9:
- Taxpayers opting composition scheme (They must file GSTR-9A)
- Casual Taxable Person
- Input service distributors
- Non-resident taxable persons
- Persons paying TDS (under section 51 of CGST Act)
| Sales | GSTR 9 | GSTR 9C |
|---|---|---|
| Up to 2 Cr | Optional | N/A |
| More than 2Cr. – 5 Cr | Filling is mandatory | Optional (Benefit Given) |
| More than 5Cr | Filling is mandatory | Filling is mandatory |
Due Date, late fee and penalty
The due date to file GSTR-9 for a financial year is 31st December of the year following the relevant financial year.
For example, the due date of GSTR-9 for FY 2019-20 is 31st December 2020.However, The due date of GSTR-9 & GSTR-9C for FY 2019-20 has been extended up to 28th February 2021
- The late fees for not filing the GSTR 9 within the due date is Rs 100 per day, per act. That means late fees of Rs 100 under CGST and Rs 100 under SGST will be applicable in case of delay.
- Thus, the total liability is Rs 200 per day of default. This is subject to a maximum of 0.25% of the taxpayer’s turnover in the relevant state or union territory. However, there is no late fee on IGST yet.
What are the details required to be filled in the GSTR-9?
GSTR-9 is divided into 6 parts and 19 sections. Each part asks for details that are easily available from your previously filed returns and books of accounts.
- Broadly, this form asks for disclosure of annual sales, bifurcating it between the cases that are subject to tax and not subject to tax.
- On the purchase side, the annual value of inward supplies and ITC availed thereon is to be revealed.
- Furthermore, these purchases have to be classified as inputs, input services, and capital goods. Details of ITC that needs to be reversed due to ineligibility is to be entered.
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