GSTR – 9 Annual Filing
GSTR-9 is an annual return that is combined of all the returns that are being filed in the respective financial year by the taxpayer. This return provides information regarding outward and inward supplies, taxes that are paid, input tax credit claims, raised demands, and issued refunds. GSTR-9 is compulsory for all the taxpayers that are registered under GST and also includes those that were registered only for a day.
Businesses must file their GSTR-1 and GSTR-3B forms prior to completing their GSTR-9 filings.
What is GSTR-9 Annual Filing?
It is the unification of all the months/quarterly returns (GSTR-1, GSTR-2A, and GSTR-3B) and includes all the information concerning outward and inward supplies with respect to the relevant financial year under CGST, SGST, IGST, and HSN codes. This return, due to its complex nature, aids in extensive data reconciliation for complete visible disclosures.
Who needs to submit an annual GSTR-9 return?
Following are the ones who needs to submit their GSTR-9 annual return: –
- Regular taxpayer: This consist of regular taxpayers, Special Economic Zone (SEZ) units as well as SEZ developers.
- Composition Taxpayer: A composition taxpayer that is pulled out of the composition scheme of GST throughout the year and remains registered under GST.
However, the below are not suggested to file GSTR-9: –
- Taxpayers who settled under the composition system were required to submit GSTR-9A.
- Casual Taxable Person (CTP)- A person who provides taxable goods or services on occasion in a taxable region where he/she does not have a permanent place of business.
- Input Service Distributor – Any taxpayer who gets bills for services provided to its branches.
- Taxable persons that are non-resident.
- Individuals who are paying TDS under Section 51 of CGST Act
- People who are collecting TCS under the CGST Act’s Section 52
Mandatory Documents that are required to file GSTR-9: –
Monthly GST Returns: Your monthly sales, purchases, and tax computations are displayed on these GSTR-1, GSTR-2A, and GSTR-3B forms.
Annual Financial Statements: Your annual balance sheet and statement of profits and losses.
Reconciliation Statement (GSTR-9C): This facilitates in aligning your GST returns with your financial data.
Prerequisites for filing the annual return (GSTR-9)
The following requirements must be met in order to file the yearly return (GSTR-9):
Taxpayer Registration: For at least one day of the relevant fiscal year, the taxpayer must be registered with the Goods and Services Tax (GST) as usual.
Filing of GSTR-1 and GSTR-3B: For at least one day of the relevant fiscal year, the taxpayer must be registered with the Goods and Services Tax (GST) as usual.
Auto-Filled Tables: Based on the data in GSTR-3B and GSTR-2A, several rows in GSTR-9 are automatically filled up with information:
- Table 6A is filled in automatically with the information from GSTR-3B and is not modifiable.
- Table 8A is not editable and is automatically filled based on data from GSTR-2A.
- Table 9, which includes information of tax paid as stated in returns filed throughout the financial year, will be automatically filled in based on the details given by the taxpayer in Form GSTR 3B for the related fiscal year.
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What information has to be included into the GSTR-9?
GSTR-9 is segmented into 6 parts and 19 sections. Every part needs the information that can be easily found from the previous returns that were filed as well as books of accounts.
- Information about annual sales, dividing between the cases that are related to tax and not related to tax.
- You must disclose the annual value of received supplies and access to Income Tax Credit (ITC) in the purchase section.
- Furthermore, these purchases have to be classified as inputs, input services, and capital goods.
- Additionally, these purchases have to be categorized as inputs, input facilities, and capital goods like machinery, tools, buildings, vehicles, and technology.
- Information of Income Tax Credit (ITC) that needs to be changed due to the non-eligibility is to be submitted.
Conclusion
GSTR-9 is a yearly return that combines monthly or quarterly returns submitted by regular taxpayers, including SEZ units and developers. It provides a comprehensive view of outward and inward GST supplies for the relevant financial year. GSTR-9 filing is not necessary for non-residents or specified taxpayers utilizing the composition scheme. Suitable documentation, such as monthly returns and financial statements, is important for precise filing, and some tables are auto-completed based on previous data.
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FAQ’s
GSTR-9 is just the yearly summary of all your monthly or quarterly GST returns (like GSTR-1, GSTR-2A, and GSTR-3B) for the entire financial year. It’s the big picture of everything you’ve filed.
Regular taxpayers, SEZ units, and SEZ developers. Also, if you ditched the composition scheme but stayed under GST for the rest of the year, GSTR-9 is your problem too.
Composition taxpayers (they file GSTR-9A), Casual Taxable Persons (CTP), Input Service Distributors, non-residents, and those handling TDS/TCS under CGST rules can breathe easy—no GSTR-9 for them.
You’ll need your monthly returns (GSTR-1, GSTR-2A, and GSTR-3B), your annual financials (balance sheet, profit/loss), and the Reconciliation Statement (GSTR-9C). Don’t miss these.
Yep, some. Tables like 6A, 8A, and 9 will be auto-filled using data from GSTR-3B and GSTR-2A. You don’t need to touch them, but check them.
The input tax credit (ITC), annual sales, inbound supplies, input service categories, and capital goods. In summary, an inventory of the items you purchased, sold, and claimed.
After you’ve filed all your GSTR-1 and GSTR-3B returns for the financial year. Do this first, then worry about GSTR-9.
It’s all about reconciling your numbers and making sure everything adds up. If you screw up here, your GST records for the year won’t make sense.