The Goods and Services Tax (GST) system was introduced in India in 2017 to simplify the indirect tax structure. To ensure that businesses comply with the law, the government has introduced various forms and returns that must be filed regularly. One such important return is the GSTR-9. The CA portal is capable of providing all the necessary information about the users’ GSTR 9 due date for the financial year 2022-23, as well as extension notifications. To file the annual return GSTR-9 for a financial year, the due date is the 31st of December of the year following the relevant financial year 2023-24.
All registered taxpayers under GST must file GSTR 9 annually. It is a summary of all outward and inward supplies, tax liability, and input tax credits claimed in the financial year. The due date for filing GSTR-9 is December 31 of the following year. For various times in the first two financial years, the annual return filing has been postponed.
Filing GSTR-9 is an essential requirement for GST-registered businesses in India. It helps to maintain transparency in tax reporting and gives the government a complete view of a taxpayer’s financial transactions for the year. To avoid penalties and ensure accuracy, taxpayers need to understand the form’s requirements and file it on time. Seeking professional guidance can be helpful, especially when filing GSTR-9C, which involves a self-reconciliation statement.
What is the GSTR-9 Annual Return?
GSTR-9 is a GST return form that must be completed annually. It is simply a summary of the sales, purchases, and taxes made by a registered taxpayer over the whole fiscal year. This form aids in the reconciliation of the tax due by giving the government a consolidated perspective of a taxpayer’s activities throughout the year.
Who is Required to file GSTR-9?
GSTR-9 must be filed by all ordinary taxpayers who are GST-registered. This applies to organizations, people, and entities that have registered for GST. The following taxpayer types, however, are excused from submitting GSTR-9:
- Casual taxable persons.
- Input service distributors.
- Non-resident taxable persons.
- Persons paying TDS under section 51 of the CGST Act.
- Composition dealers.
GST Annual Return Eligibility types
GSTR-9 forms categories into three types each catering to different types of assessees:
GSTR-9– The same form is for the normal assessments that are used to file their yearly returns.
GSTR-9A- The assessee who has chosen the composition scheme under the GST at the time of the fiscal year can use this form.
GSTR-9C– This form, a reconciliation statement, must be submitted with the GSTR-9 by taxpayers whose combined revenue for the financial year exceeds Rs. 5 crores. In essence, it is a reconciliation declaration that has been self-certified.
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What information is Required to Complete the GSTR-9?
The GSTR-9 form consists of 6 parts and 19 sections. Each part seeks information that can be derived from your previously filed returns and accounting records.
- In Part 1 of the form, you are required to provide details of annual sales, differentiating between taxable and non-taxable cases.
- The purchasing section requires you to report the annual value of inward supplies and the Input Tax Credit (ITC) claimed.
- You need to categorize your purchases into inputs, input services, and capital goods. Any ITC that is ineligible or needs to be reversed should also be recorded.
Compliance load Reduced for Small Taxpayers
The Central Board of Indirect Taxes and Customs (CBIC) has announced the exemption of filing annual returns (Form GSTR-9) and reconciliation statements (Form GSTR-9C) for taxpayers with turnovers up to 2 crores and 5 crores respectively. This decision was made on the occasion of the 6th anniversary of the implementation of the Goods and Services Tax (GST).
- Taxpayers with an annual turnover of up to Rs. 2 Crore are not required to file the annual return (Form GSTR-9).
- Taxpayers with an annual turnover of up to Rs. 5 Crore are not required to file reconciliation statements (Form GSTR-9C)
|Up to 2 Cr
|More than 2Cr. – 5 Cr
|Filing is mandatory
|Optional (Benefit Given)
|More than 5Cr
|Filing is mandatory
|Filing is mandatory
Annual Return GSTR 9 Due Date for FY 2023-24:
|Updated Due Date
|GSTR 9 (Annual Return)
|31st December 2024
|GSTR 9 (Annual Return)
|31st December 2023
|GSTR 9 (Annual Return)
|31st December 2022
|GSTR 9 (Annual Return) Extension
|31st December 2021 To 28 February 2022 Read notification
GSRT 9 Due Date & Late Fee, and Penalty
The late fee for not furnishing the GSTR-9 form within the left date is Rs 100 per article per day. It reveals that late fees of Rs 100 below CGST and Rs 100 below SGST will be liable for late cases.
Rs 200 per day is subjected as a sum liability for failure. It is entitled to a highest of 0.25% of the assessee’s turnover in the related state or union territory. But till now there is no late fee on IGST.
The GSTR-9 form comprises various sections that require taxpayers to provide information regarding their financial activities throughout the year. These sections encompass:
General Information: This includes the taxpayer’s name, GSTIN (Goods and Services Tax Identification Number), and the specific financial year for which the return is being filed.
Part I: In this section, taxpayers must furnish details about their outward supplies to registered taxpayers, unregistered taxpayers, and composition taxpayers. Additionally, information about the inward supplies is also required.
Part II: Taxpayers are required to provide information on the taxes paid during the financial year, which includes central tax, state tax, integrated tax, and cess. Any additional liability arising from discrepancies in previous year returns should also be disclosed.
Part III: This section focuses on the input tax credit (ITC) availed and reversed by the taxpayer during the financial year.
Part IV: Taxpayers must report the late fees payable and pay for any delays in filing their returns.
Part V: This section pertains to amendments made in the returns of the previous financial year. Taxpayers are expected to provide relevant details of the amended returns and corresponding information.
GSTR-9 Applicability & Cases
GSTR-9 Nil return: When a person is GST-registered but doesn’t engage in any transactions throughout the year, they must submit a Nil GSTR 9 annual return.
If a person’s registration was cancelled during the fiscal year, they must submit a GSTR 9 annual return for the time they were registered for GST.
When a person chooses to join and leave the composition scheme during the same fiscal year, they must file both GSTR 9 and GSTR 9A for the appropriate periods.
What is Needed to Learn at the Time of GSTR-9 Filing
Precise data: It is important to ensure the accuracy of the data you provide in the GSTR-9 form and verify that it aligns with the information filed in your monthly or quarterly returns.
Timely Filing: The deadline for filing GSTR-9 is generally December 31st of the following financial year. However, it is crucial to stay updated on any potential changes to the deadline.
Penalties: Late filing of GSTR-9 can result in penalties, so it is essential to submit the return within the prescribed timeframe.
Professional Help: If you are directed to file GSTR-9C, it is recommended to ask for help from a chartered accountant or cost accountant, as this reconciliation statement ought to be certified by a qualified professional.
Maintain Records: Keep all relevant documents and records to support the information provided in your GSTR-9 form. These documents serve as evidence and ensure the accuracy and reliability of the data you report
Latest News/Updates of GSTR 9 Form:
- The due date for filing GSTR-9 for the financial year 2022-23 has been extended for certain districts in Tamil Nadu. Read official Notification
- GSTN has recently launched the offline utility for GSTR-9 and GSTR-9C for 2022-2023. This utility can be downloaded easily from the GST portal. The offline utility is a valuable tool for taxpayers who prefer to prepare GSTR-9 and GSTR-9C returns offline. You can fill out the returns using a user-friendly, step-by-step guide. Several helpful features are also included in the utility, which makes the process as simple as possible.
- Features include importing GST data, previewing the returns before submitting, and generating a JSON file for easy GST portal uploading. The GSTR 9C offline utility helps taxpayers save time and effort when filing their returns. All of this makes the process easier and more efficient.
- The Central Board of Indirect Taxes and Customs (CBIC) has issued an announcement to allow Input Tax Credit( ITC) claims and correction of invoices till 30th November 2022. Read Notification
- “Seeks to amend Rule 80 of the CGST Rules, 2017 and notify Form GSTR 9 and 9C for FY 2020-21. Rule 80 provides for exemption from GSTR-9C to taxpayers having AATO up to Rs. 5 crores.” Read the Official Press Release
- “Extension of due dates for FORM GSTR-3B, GSTR 7 and GSTR 1 for the month of July 2019 to January 2020 till 24 March 2020 for registered persons having principal place of business in the Union territory of Ladakh.”
- The Institute of Cost Accounts of India has cordially demanded Ministry of Finance not extend the threshold limit for filing GST Annual Returns and Audit Forms.
- Central Board of Indirect Taxes has once again changed the due date for GSTR 9 and 9C filing.
- Small businesses and taxpayers will be exempt from the annual compliance of GSTR 9, 9A and 9C.