Introduction
Form GSTR 9 in an annual return under GST regime that is to be filed once for every financial year by every registered Taxpayer. GSTR 9 is a consolidation of every quarterly/monthly returns filed during the financial year. The taxpayers are required to furnish details regarding inward and outward supplies made and Input Tax Credit availed during the year.
Applicability
Form GSTR 9 is to filed by every registered taxpayer including SEZ unit in Pune, SEZ developer whether or not it has made any outward/inward supply during the year. However, Annual Return is not required to be filed by Casual Taxpayer/Non-Resident/ISD/ a person paying tax under section 51 (TDS) or section 52 (TCS). Also, Composition taxpayers are required to file Annual Return in Form GSTR 9A.
Details Required to be Furnished in GSTR 9 Form
Form GSTR 9 comprises of 6 Parts as follows:-
- PART – I:- Consists of basic details of Taxpayer which will be auto-populated.
- PART – II: -Consists of Details of all Inward and Outward Supplies declared during the Financial Year. It is the consolidated summary of all GST returns filed during the year.
- PART – III:- Consists of Details of ITC as declared in the returns. This will be the summary of all the values furnished in GST Returns filed during the financial year.
- PART – IV:- Consists of details of Tax paid as declared in the returns.
- PART – V:- This consists of the particulars of all the transactions of the previous FY which are declared in the returns filed between April to September of current FY or up to the date of filing of GSTR 9 whichever is earlier. These are generally the transactions omitted or amended during the previous FY but effected in the returns of current FY.
- PART – VI:- This consists of other information i.e. GST demands and refunds, HSN wise summary information, Late fees payable and paid, Supplies received from composition taxpayers, deemed supply goods sent on approval basis.
Due Date for Filing GSTR 9 and Late Fees
The due date for filing of FORM GSTR 9 for the Financial Year 2017-18 is 30th June 2019 and if the same is not filed before the due date, Late Fees is applicable as following:-
- Rs 100 for CGST and SGST per day subject to a maximum of 0.25% of the taxpayer turnover in the state or union territory.
Since this is the first annual return of GST regime, utmost care should be taken while filing it. It is a mere summary of all the returns filed during the Financial Year and additional ITC cannot be claimed in it. However, if additional Tax liability arises, Before filing the return, the same should be discharged.
NOTE: The filing date for GSTR -9 for FY 2017-18 has been extended to 31st January,2020
Kartik M Jain & Associates is a Chartered Accountancy firm catering to Domestic as well as international clients. We have been providing advisory, regulatory and compliance related services in the areas of Direct and Indirect Taxation, International Taxation, Auditing, and Assurance and cross border transactions related services.
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Kartik M Jain & Associates, CA in Pune is a professionally managed firm serving domestic and international clients providing services relating to direct and international taxation, indirect taxation, auditing and assurance and Consultancy. It is amongst the best CA firms in Pune. Our sister Firm, Payal K Jain & Associates, a Company Secretary in Pune provides services in relation to Company Formation in Pune and across India, Corporate Law and Compliance, ROC filings, FEMA, Trademark Registration, etc.
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