TaxbaseLANPro, TaxbasePro and TDSPro version 22.214.171.124 released on www.sinewave.in
This version covers:
Changes relating to ITR 5 efiling for AY 2022-2023
GSTR 9 is an annual return to be filed once in a year by the registered taxpayers under GST including those registered under composition levy scheme. It consists of details regarding the supplies made and received during the year under different tax heads i.e. CGST, SGST, and IGST. It consolidates the information furnished in the monthly/quarterly returns during the year.
Applicability Of GSTR-9
lf registered person u/s 44 of CGST and SGST Act except as mentioned below [specified u/s 44 (1)] are required to file GSTR.
Casual Taxable Person
Non-Resident Taxable Person
Person deducting TDS or Collecting TCS (the provisions were not applicable in FY 2017-18)
Input service distributor
Types of GSTR-9 Return
There are 4 types of returns under GSTR 9
GSTR-9: GSTR 9 should be filed by the regular taxpayers filing GSTR 1, GSTR 2, GSTR 3.
GSTR-9A: GSTR 9A should be filed by the persons registered under composition scheme under GST.
GSTR-9B: GSTR 9B should be filed by the e-commerce operators who have filed GSTR 8 during the financial year.
GSTR-9C: GSTR 9C should be filed by the taxpayers whose annual turnover exceeds Rs.2 crores during the financial year. All such taxpayers are also required to get their accounts audited and file a copy of audited annual accounts and reconciliation statement of tax already paid and tax payable as per audited accounts along with GSTR 9C.
Due Date & Late Fess for filing GSTR-9
Due Date :-
Annual return GSTR 9 has to be filed by 31st of December of the subsequent fiscal year. Due date is extended to 31st March for Financial Year 2017-18. For example, the annual return for the Financial Year 2018-19 should be filed by 31st December 2019.Due date is extended to 31st March for Financial Year 2017-18
Late Fee :-
As per Section 47(2) of Central Goods and Service Tax Act (2017), a person will be fined a penalty of INR 100 per day (CGST) + INR 100 per day (SGST), amounting to a total of INR 200 per day if he/she fails to file GSTR-9 before the due date. However, the maximum amount of penalty a person can be fined is 0.25% of the total turnover.
How to Revise GSTR-9
Form GSTR-9 once filed cannot be revised. Any mistake made in the return can be revised in the next month’s return when the error or omission is identified.
Content Under GSTR-9
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|Part I||Basic Details|
|Part II||Details of Outward & Inward supplies declared During the Financial Year|
|Part III||Details of ITC as declared in Returns filed During the Financial Year|
|Part IV||Detail of Tax paid as declared in Returns filed During the Financial Year|
|Part V||Particulars of the Transactions for the pervious FY Declared in return of April to September of current FY or Upto date of filling of Annual return of Pervious FY whichever is Earlier|
|Part VI||Other Information.|
Now will Discuss brief of Part I to Part VI under GSTR-9
- Part I – Basic DetailsThis is the first section that you need to fill in the Form GSTR-9. Here, you need to give details like financial year (the year for which you are filing the return), GSTIN, legal name and trade name (if any) of the business/taxpayer.
- Part II – Details of outward and inward supplies declared during the financial yearIn this part of the form, you need to provide the details of all outward supplies and advances received during the FY.
- Part III – Details of ITC as declared in returns filed during the financial yearIn this section of the form, you should provide the details of ITC declared in returns filed during the financial year. You should also give the details of ITC reversed and ineligible ITC as declared in returns filed during the financial year.
- Part IV – Details of tax paid as declared in returns filed during the financial yearIn this section of the form, you are required to fill in the details of the actual tax paid during the relevant FY. You can refer to your GSTR-3B forms to fill this section.
- Part V – Particulars of the transactions for the previous FY declared in returns of April to September of current FY or up to the date of filing of annual return of previous FY whichever is earlierIn this section of the form, you need to mention the details of such transactions of the previous FY which were declared in the returns of April to September of current FY or the transactions declared tum the date of filing of annual return for previous FY, whichever is earlier.
- Part VI – Other information in this part of the form, you need to provide the details of any demands raised or refunds issued by the government, information on supplies received from composition taxpayers, HSN wise summary of outward and inward supplies. You also need to provide the details of late fee payable and paid in this section.